SBDC Template

Business Start Up Checklist

Starting a business is risky. Understanding the risks and reducing them through careful planning improves the chances for business success. You should be fully aware of the implications of owning your own business. A new business venture will affect both you and your family. Carefully analyze your reasons for starting a business. How will it fit with your family and your lifestyle?

Here are some initial questions to ask yourself:
  1. Am I a self-starter? Do I have the discipline to maintain a schedule?
  2. Do I want to earn more money? Will this business earn more money initially or do I need to be prepared to initially work for less?
  3. Do I want to be more creative? Do I have the necessary skills to be successful in this business?
  4. Have I discussed this proposed business with my family?
  5. Do I have the money needed for business start-up and initial operating expenses until I start earning a profit?
  6. Have I decided on the legal structure of my business?
  7. What about the tax implications?
  8. Will my business have employees?
  9. Have I defined the products or services I will provide? Is there a need in today’s marketplace?
  10. Have I registered my business?
  11. Do I need a trademark?
  12. Do I have a sound business plan?