Many businesses have failed due to not planning properly or missing vital points in the plan.This is a checklist of points to consider step by step when starting a business.The checklist below serves as a guideline of things to consider when setting up an online business.
1.Decide the kind of online business you want to start.
2.Research your choice of business thoroughly.
3.Research the market for your business.
4.Attend business start up courses.
5.Join trade associations or fora related to your online business.
6.Name your online business.Its advisable to choose a name that spells out what your business is about when you register your domain name.
7.Make a trademark search and obtain a logo for your online business.
8.Register a domain name for your online business.
9.Design and build a website for your business or let someone do it for you.
10.Decide if your online business would be a sole proprietor, partnership, or corporation.
11.Evaluate your finances to determine your personal budget.
12.Write a realistic business plan.
13.Write a marketing plan.
14.Organise financing for your online business.
15.Make a list of start-up supplies your online business would require within your budget.
16.Arrange a system for accounting and payroll.
17.Find out if you will require a license, tax identification number, fictitious business name.
18.Choose a location for your business will it be at home or do you intend to rent an office.
19.Organise office equipment i.e.Computer, printer, fax, postage, office supplies, and fixtures.
20.Make an inventory.
21.Make an operations and employee manual for your online business.
22.Choose a launch date for your online business.
23.Plan an event to launch your business.
24.Send out announcements and press releases.
25.Review business plan and update it to cope with any changes.
26.Review your marketing strategy regularly.
Starting a business can be a very rewarding venture but it is important that you set yourself achieveable and measurable goals.As you meet your goals they will boost your confidence and will give you a foundation of success to build on.
