Don’t just wing it – create a game plan. Writing out business goals and action steps helps to clarify your mission and gives potential investors a clear vision of your roadmap to profitability.
Once you’ve developed your business plan, you should have a clear understanding of the amount of money (or capital) you need to start and run your business. If you need to raise or borrow money, there are several options.
Where should you operate your business? That all depends on your business types and needs. Choose between home-based, commercial, or retail.
Choosing the legal structure that best suits your business type is a top priority. All businesses – even small ones – must be registered with the city in which they operate, and often with the state and federal governments as well.
Once you’ve picked the perfect business name, the next step is to make it legal by filing a fictitious business name (FBN) with your local county clerk.
Research and plan for any required permits and license requirements that will be required for your specific business.