2. EVALUATE YOU & YOUR IDEA – Is your idea feasible? Can you make money from this venture? Are you ready to own a business?
3. MARKET RESEARCH – Test the viability of your idea by researching the market, industry and competition.
4. WRITE A BUSINESS PLAN – This is an essential step and critical for the planning and success of your business.
5. FINANCING – How will you finance your business? Banks and other lenders or investors will often require a written business plan.
6. BUSINESS NAME – Pick a name that best reflects your business.
7. BUSINESS STRUCTURE – How will your business be structured – Sole Proprietorship, Partnership, LLC or Corporation?
8. BUSINESS REGISTRATION - What are the steps to legally register a business?
9. PROTECT YOUR IDEA – Does your business have proprietary information that you want to protect?
10. BUSINESS INSURANCE - An overview of the various insurance products to protect your business from unexpected events.
11. BANK ACCOUNT – How do you open a bank account?
12. HIRE EMPLOYEES - What are your responsibilities as an employer?