Starting a Business

Starting a Business Checklist

  1. Take a self-assessment to determine if you have what it takes to be an entrepreneur.
  2. Write a business plan to determine the viability of your idea.
  3. Review all relevant legal requirements.
  4. Incorporate your business.
  5. Determine how best to fund your business.

Introduction: Starting a Business

Starting a business is about taking an idea and transforming it into a reality. This requires not only a well-developed idea for a viable business, but also the vision and the skills to execute that idea.

As you begin the process of launching your new entrepreneurial venture, you must take a close look at yourself, at your business, and at the world around you.

If you have not already done so, begin with a Self-Assessment.

Next, start writing your business plan and vetting your business model. You will want to consider all aspects of your business, including overall strategy, finance, marketing, and operations. As you do this, you will likely want to begin building your leadership team and advisory board, if appropriate.

Meanwhile, you will need to consider the logistics of opening a business in your area. Among other things, you’ll need to select a location, decide on a business structure, and obtain the necessary licenses and permits. Be sure that you review all relevant legal requirements, including how to incorporate your business. In addition, determining how to best fundyour business is critical.

There’s a lot of great information on the web for how to start your business, but make sure you do your homework with local resources for licenses, permits, rules and regulations.

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