Steps to Launching Your Business

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[ ]  Determine your vision and strategic plan

[ ]  Specifically define your skills, relevant experience, and role

[ ]  Develop a business plan

[ ]  Review your business plan with business counselor, lenders, colleagues

[ ]  Determine business name

[ ]  Determine facilities and location

[ ]  Determine your target market and develop a marketing plan

[ ]  Establish your public relations plan

[ ]  Identify your pricing and sales strategies

[ ]  Research your competitors and determine the advantages you have over them

[ ]  Establish start-up costs and plan for financing

[ ]  Develop a monthly operating budget

[ ]  Develop return on investment, cash flow, income statements, and balance sheets

[ ]  Determine other accounting needs and who will manage function

[ ]  Determine how to compensate yourself

[ ]  Determine your legal structure and address all legal issues

[ ]  Research tax requirements

[ ]  Assess insurance needs and plan for purchase

[ ]  Obtain all necessary licenses, permits, operating numbers, trademarks

[ ]  Plan all technology needs

[ ]  Purchase all technological equipment

[ ]  Plan all office management needs: payroll process, accounting systems, furniture

[ ]  Develop customer service strategy

[ ]  Assess staffing needs, define roles, and hire employees

[ ]  Determine how you will train your employees

[ ]  Establish plan for production of products

[ ]  Establish plan for distribution of products

[ ]  Plan for how you will use social media in your business

[ ]  Determine your exit strategy

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