Startup Checklist

Think of an idea. Most likely the toughest part of any start-up business.

Refine your idea. Be specific. Know exactly what you want to accomplish and understand what is involved.

Do your homework. Talk to friends, family, and advisors about the viability of the endeavor. Conduct market research and ensure there is a need for your product in the marketplace.

How will you maximize your skills and compensate for your weaknesses? Evaluate your personal qualities and skills. Build a team or outsource areas where you lack the necessary skills.

What form will your business take? Decide on a structure –sole proprietorship, partnership, or incorporated company.

Develop a marketing plan. Price, product, promotion, plan of distribution, people, process.

What is your pricing strategy? How will your pricing reflect on your company’s image? Do you still make money after paying the bills?

Prepare a detailed, realistic business plan –strengths and weaknesses, key strategic issues, business objectives, strategies and plans, projections, etc.

Stick to your core competencies. Sell what you know. Outsource any non-key areas of your business.

Location, location, location. Pick a place that makes sense for you, your customers, your product, and your employees.

Money! How much is required and what are the sources of funds? Have enough money available to carry your business for a several months.

CreditSunrise : Bank Proposal all right reserved.  Information may not be copied without the expressed written consent of CreditSunrise.com or its affiliates. Use only as a guide only for your business plan research.  Contact us for further details. Home Page Services Resources Sign in Test Drive Links Resources: Starting a small business Start up checklist Credit History Bank Application Process Bank's Lending Requirements Types of Loans