Your Small Business Startup To Do List

You have work to do before you start that small business!

Starting a small business shouldn't be like magic: One day you're not there, the next you are. If you start your business this way, most likely you will end it the same way: One day you're in business, and the next you're not. Starting a business -- one that will be around for a while -- isn't an overnight decision. It requires a lot of planning and work before you open your doors.

Assuming you want your small business to stick around a while, here are a few things you need to get squared away before you start accepting customers.

Set a date. You will be much more productive getting all of the rest of this done if you have a date for when you plan to open. Setting a date both motivates you and gives you a deadline.

Write your business plan. Having a working business plan is one of the most important things about starting a small business. It's through researching your business plan that you identify your target market: who they are, and what kind of marketing is most likely to reach them. Without this all-important research, your marketing attempts will be like firing shots in the dark, and your business is likely to never take off.

Apply for financing. Once you have a business plan in order, you can start seeking a business loan -- but not before. Lenders like to be able to look at a business plan and reassure themselves that you know what you are doing, rather than blindly throwing money at you. In addition, your business plan will tell you how much money you need to borrow in order to get your business off the ground and off to a good start.

Find an office, storefront, or warehouse. If you are not going to be doing business wholly online, you will probably need an office or storefront. Even if you aren't a store, if you are going to be regularly meeting with customers you should consider having an office that is NOT inside your home, as it will increase your professionalism in the customer's eyes. Online shopping websites may require a warehouse for storing inventory.

Set up a website. Even if you are not open for business yet, get your website going. This means researching and purchasing website hosting or server hosting depending on whether your business needs a dedicated server; hiring a designer to build the website; and setting up the shopping cart, secure checkout, and anything else your business model requires. Ideally, you should have a shell website (i.e., with the shopping cart and checkout disabled) up and running as soon as possible, with an announcement about when Opening Day will be.

Stock your inventory. Nothing could be worse than opening your store, and then running out of things right out of the gate. To prevent this from happening, be sure to stock your inventory before you open. It is better to overestimate your sales than to underestimate, as any overage is simply an investment in your future inventory.

Do all the behind-the-scenes paperwork. Do you need to get an employee number? Do that now, before you open. Are you required to file papers with the city or county to register your business? Better get crackin'. Are you going to form an LLC? Get on it! All of this paperwork should be done now, while you are preparing for Opening Day. Believe me, you won't get any less busy once your doors are open!

Hire employees, contractors, etc. Even if you aren't opening for a month, the hiring process takes time, so start looking now! You can always tell your new employees they won't be starting for another couple of weeks -- or maybe even pay them to help you get ready to open!

Starting a new small business takes more than just a pretty Grand Opening sign, an open door, and some inventory. It takes time and work to get everything in order so that you can open, from writing your business plan and securing financing, to hiring employees and doing all the official paperwork. Taking the time to do these things right gives you a better chance of STAYING open!

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