Essential to the startup effort is the creation of a business plan – a
detailed map of the new business to be created.
RESEARCH WHAT IS GOING TO COST
Careful research of the industry and potential
makeup and profile of customers must be
conducted before starting up a business.
Some business owners choose to hire market
research firms to aid them.
Insurance, License, Permit Fees
Businesses are expected to file with applicable
government agencies where their business is
located to obtain
certain business licenses and permits.
It is a good idea to obtain
business insurance as well.
Equipment & Supplies
Every business type requires some form
of equipment and basic supplies.
You need the necessary items to obtain
customers. Depending on your business
the list of items needed could be as high
as a truck or building or inexpensive as a
briefcase and laptop.
As soon as starting you must do everything
you can to acquire customers. Advertising
and promoting the business is much more
than ad placement. It also includes marketing
– everything in between.
Starting up any kind of business requires
an infusion of capital. There are two ways
to acquire capital for a business: equity
financing and debt financing.