Business Opportunities Weblog

August 8, 2006 by Rich Whittle | 3 Comments

Rhonda Abrams:

So, you’ve decided to start a business. What do you do first? What next? What do you have to do right away and what can you delay? Here are 10 must-dos:

1. Talk to an attorney and/or accountant. Create a simple standard contract or agreement you can use. It’s also a good idea to understand some of the tax implications of setting up your own business.

2. Objectively check out the competition. Most entrepreneurs fail to see what competitors are good at. Learn from them.

3. Get a domain name and/or e-mail address. You’ll look much more professional if you have a company domain name for your e-mail rather than a personal one.

4. Get all necessary business licenses, permits and certifications. Make sure you’re following the law right from the start.

5. Contact an industry trade association. They’re a great source of information and help for your specific type of business.

6. Get a business bank account. Set aside one credit card just for business use. Separate your business and personal expenses from the day you start business.

7. Develop at least a simple budget. Be extremely conservative about income.

8. Get bookkeeping software.

9. Develop a business plan.

10. Develop a marketing plan and go to it!

Photo by shammonds.

In Ideas | 3 Comments
Tags: Business Structures, Ecommerce, Government, Legal, Startup