checklist

Business Startup Checklist: What You Need To Do To Start-up


We get asked a lot by entrepreneurs what they need to do to start their business.  While there isn’t one definitive path to starting a business but let’s try to list out some of what you may need to do.  There are five major categories you need to include in a business startup checklist.

These are:

Business Development

  • Come up with a business idea
  • Ensure there is an idea/market fit
  • Make sure that your business is sustainable
  • Define what your goals and objectives are from the business

Marketing and Sales

  • Define your ideal customers
  • Find out everything possible about your idea customer
  • Review your competition
  • Come up with a winning USP to beat your competition
  • Come up with campaigns to promote your product/service to your ideal market
  • Write your marketing plan
  • Secure digital presence (the internet and social media)

Operational

  • Find suppliers and negotiate best deals
  • Find premises to operate
  • Recruiting management team and staff
  • Define roles and responsibilities
  • Plan how you will make or deliver your product/service
  • Plan how you will manage performance of staff and business

Legal

  • Make sure your intellectual property is protected
  • Register business
  • Prepare contracts for customers, partners and employees

Finance

  • Define your pricing strategy
  • Develop your sales assumptions based on marketing
  • Prepare financial forecast
  • Work out your Break Even Point
  • Calculate how much money you need to start the business
  • Find the most suitable funding options
  • Apply for funding

As you can see it’s quite a big list, but don’t be scared of this. Everything does not have to be done all at once. Work out your priorities and stick with them.

Use the Business Start-up Checklist in the Business Development Toolkit to Plan out what needs to be done.

 


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