Life Plan:  Create a life plan.  Do a personal assessment of your skills talents, abilities, weaknesses, and resources. Do you have the necessary training and skills for your desired business? Do you have the discipline necessary to plan and manage a successful business?

ORGANIZE: Set up a planning notebook to keep track of appointments, things to do, calls to make, errands to run, shopping, etc. Finally, set up a work schedule and so you won't get sidetracked. Establish a goals and a timeline for your business. Assemble a team.

business model: Choose a model that fits your lifestyle, commitment level and business opportunity: Home-based business, retail,
e-commerce, e-bay, franchising, network marketing, etc.

BUSINESS PLAN:  Write a business plan, which includes a complete description of your business,  who the prospective customers are, how you plan to promote, and how much money is need for start-up costs.  Include everything, answer all the possible questions. Establish Goals. Understand all the cost associated with doing this business. This document is on-going and updated regularly. REMEMBER: “If you fail to plan, you plan to fail.” Use your Business Plan as a tool.

GATHER INFORMATION: Spend considerable time researching your business and other businesses, looking for success models or business strategies. A library or web search can provide information on business basics, and on the specific type of business that interest you.

BUSINESS NAME: Choose a name that is an asset to your business and register it.  Web search your company name.  If another business already has that name, you may want to select a new one.

LEGAL ENTITY: The basic legal forms are sole proprietorship, partnership, corporation and limited liability corporation. The most common is the sole proprietorship. Talk to your accountant to understand the tax implications of each legal entity.

LOCATION: Choose a mailing address, phone contact and business location. Which locations will consistently represent the business image you are trying to create. REMEMBER: “location, location, location.”

GRASSROOTS MARKETING: Select business cards, stationery, marketing materials. They make a definite impression-good or bad- on the people who receive them. If you are not certain what is most suitable and effective, consult a graphics designer or advertising agency.
REMEMBER: "Image is everything."

FUNDING: Determine where the money is coming from. There are three ways to finance start-up costs: use your own money, obtain a loan, or find investors. If possible, it is better to start small, use your savings, and not worry about repaying a debt. "If you really love your business, remember there is no romance without finance." Most businesses fail because of a lack of funding.

RECORD-KEEPING SYSTEMS: Put together a simple and effective bookkeeping system for income and expenses. Use a pocket divider for each month's receipts, bank statement, deposit tickets, and canceled checks.  Learn to use accounting software.  Attend a CEDCO workshop.

BUSINESS ACCOUNT: Build a relationship with a bank and a banker. Call several banks to find out what services they offer. Bank fees can be significant, so shop around for the best deal.

OBTAIN LICENSES & PERMITS: It's very important not to overlook any necessary license or permit. Some cities and counties require a general business license. If the product or service you sell is taxable, you need a state sales tax permit.  Obtain an EIN number.

Creating and operating a small business is a wonderful and rewarding challenge. The satisfaction is not only in the money earned, but in doing what makes you happy.  .