You have a wonderful idea for a small business. You ask your friends and family what they think about your grand idea, of course they love it, so you are ready to start running a business. Ok, well, maybe not, let’s talk readiness. A good idea does not make a business. Preparation, a great idea, and hard work make a business.
There are a few things you need to make sure to get done before your grand opening. Some things are small things, that may often get overlooked, others are important and need to be seen to for legal purposes. If you want to have a successful business make sure you dot your i’s and cross your t’s. Yes it takes a little more time and can seem tedious but the benefits are worth it.
Here is a checklist of steps that need to be taken before your big grand opening, regardless of your business you need to check each item off your list.
- Business plan
- Obtain a employer identification number or EIN from the IRS
- Business license or permits
- Business insurance
- Business bank account
- Business cards
- Elevator Pitch
- Create your brand
- Launch a Website
Each of these steps contain many smaller steps to prepare for opening day. If you have decided to embark on the crazy and fulfilling life of a business owner understand that it is not an overnight endeavor. It will be many small projects put together to create a masterpiece. Take a deep breath and pen and paper and start working out what actions you need to take to complete each and every step in the checklist.
It is vital to a successful business to treat it as a business, even if it was first a hobby. It will take nurturing and patience. It will take passion and elbow grease. The more you put into your business the more you will get out of it. It most likely will take several years to start seeing a real profit and that means it will take persistence. If you become focused in the steps you need to take it will help you to keep your eye on the ball.
If you would like more information about each of these steps please stop by the SO/HO forum and you will be directed to corresponding articles. If you would like to get free updates when new articles are available please subscribe to our newsletter.