So, you finally decided to start a business- congratulation and good luck!! The overall experience of starting a business is a plethora of emotions swirling in your stomach- excitement, happiness, fear and hopefulness. Once you have decided to go on the path of business startup, it time to divide your entire business process in smaller chunks. And go through one chunk at a time to ease your way into business world.
As we know from experience, the process of having start up is overwhelming, therefore, to make things little easier for you, we have drafted a complete checklist of all the things you need to take care when having a business startup.
- Find out feasibility
Let’s face it, business is all about making profit. So, be brutally honest with yourself and ask what you are trying to do through your startup is capable of bringing profit or not. Take some time and spend it asking questions to yourself like: is your service good? Will your products will have place in the market? Who will buy your product and why? Will your business provide any values to your customers? Will it be able to produce enough profit to keep it going?
One thing to remember it to be brutally honest with yourself while asking these questions.
- Figure out your fund
Business call out for money and lots of it. Therefore, figure out everything related with your finance. Your income, your investments, expected profit, personal expenses and taxes.
- Be a man with a plan
Of course, no business can stand a chance in the market without any plan. Your plan must include the vision, mission, niche, products, market area, customer base and financial planning. Business is not the area where you can make plan as you go with it.
- Register your domain name
Every business is having online presence these days and hence having a website is core to the business. Therefore, go get a domain name. Make sure your domain name matches your business, this way you can avoid all the confusions.
- Get a business license
Get a license. To establish your authenticity and future discomforts you will need a license. There are license depending upon your locality or state.
- Set up a website.
This is extension of getting a domain name. Online presence is core to any business’s success these day. So, don’t forget to have a attractive website.
- Establish your online presence
Social media is the essence of life style these days, so take advantage of its growing popularity. Register yourself on popular social media and see your business grow.
- Rent an office space.
If your business is to deal with material or manufacturing of products, you might need to consider about office space way too early. But if your business is not about products and material, for example if you are designing logos and banners, you can hold off renting a space. This will save quite a good sum of money.
- Design a business cards
Business is all about networking and you should have something to give out when communicating. So, design a creative business cards and have some always in hand.
- Deal with finances
Having a business is all about dealing with money and how well you do it. Start with opening a business account, to have a distinguished expenses of personal and business errands. Then set up your accounting system.
Having checked all the above points of the checklist, you are good to start your startup. Good luck!!Tags: accounting, accounts, budget, business, finances, fund, start up, website