For all the excitement that comes with opening a new business, the process can also be extremely stressful. There is much to do, so much that it can be difficult to keep track of and prioritize all the steps you will need to take to ensure your business gets started right.
To make matters more complex, the steps that need to be taken may vary depending on the industry and your goals for the business. Launching a new restaurant is quite a bit different than getting a new manufacturing facility off the ground. For that reason, there is no one-size-fits-all to-do list for starting a business.
What Are Common Steps For Starting A New Business?
There are some common steps that many or most businesses will have to address as they get started. Those steps include:
- Determining the proper entity and getting it formed
- Obtaining financing
- Finding a location, purchasing real estate and doing construction
- Establishing protocols for product review or parameters for service
- Addressing tax issues
- Coming up with a marketing plan
- Setting up employment protocols
- Establishing operational procedures and benchmarks
Creating and following a checklist can make a dramatic impact on how smoothly the launch goes, and on the business’s chances for success. After all, the steps taken during the early stages of a business’s life will have a long-term impact.
To ensure that you have a comprehensive checklist for getting your new business off the ground, you may want to consult with an experienced business law attorney. You will want to work with someone with a longstanding reputation for getting businesses like yours off the ground, someone who understands your industry and can create a customized new business checklist that will best position your business for success.