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​In Pursuit of Profit

Read our expert article below or sign up to get articles sent to your inbox.​

11/21/2018

Comments

New Business Startup Formation Checklist

 
New Business Startup Formation Checklist
Starting a new business is one-part passion and two-parts paperwork.
​

Entrepreneurs can quickly get overwhelmed by the vast federal, state, and local requirements in place to regulate the formation of new businesses. Furthermore, focusing on requisite steps can distract new business owners from asking astute questions and doing critical market research to hone their business ideas. 
However, starting a new business without a comprehensive plan in place to prioritize and organize requirements can result in substantial time delays, cash shortages, and even serious legal implications.
​
Working through a business startup checklist will ensure that all important steps are addressed in a logical order to stay ahead of the process. Additionally, it allows a new business to plan for future operations to increase its long-term chances for success.

Here is a checklist to help you get started (or evaluate) your business startup:
The Ultimate New Business Formation Checklist
DOWNLOAD THE CHECKLIST
  1. Verify Business Idea
  1. Determine How to Fund It
  1. Find Support
  2. Pick a Name
  3. Select a Business Structure
  4. Appoint a Registered Agent
  5. Write a Business Plan
  6. Assign Responsibilities
  7. Apply for an EIN (Employer Identification Number)
  8. Set Up a Website
  9. Open Social Media Accounts
  10. Apply for a Sales Tax Permit
  11. Open a Business Bank Account
  12. Get a Merchant Account
  13. Obtain Industry-Specific Licenses/Permits
  14. Forecast Revenue and Expenses
  15. Get Equipped
  16. Write Your Pitch
  17. Utilize Existing Networks
  18. Line Up Suppliers and Providers
  19. Purchase Business Insurance
  20. Build Brand Awareness
  21. Market the Business
  22. Rent Retail Space (if Applicable)
  23. Hire Employees
  24. Learn About Employment Taxes
  25. Implement an Accounting Solution
  26. Implement Automation
  27. Rent Office Space
​This list is not all inclusive. There are other items to consider on a start-up checklist. Patents, local regulations, market research and as some will say an exit strategy should be on the list.  Where you start and the order you follow will depend on your particular business. 

Are you interested in more details?

​Get the comprehensive checklist with more details about each to-do with resources and links.  The PDF whitepaper is available here:

​Download "The Ultimate New Business Formation Checklist"

The Ultimate New Business Formation Checklist
Comments

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