Thousands of new entrepreneurs start businesses at home each year to operate their small ventures on a part time basis, while facilitating full-time self-employment. Some start with the free-lance as an elegant way to self-employment, balancing pragmatism and willingness to take risks.
But perhaps think that you are at the point where you are ready to fully launch into your own venture. Congratulations! Undoubtedly, it is hard work.
Regardless of where you are during the test cycle, we havecreated an "opening checklist" to ensure that you are on the right track. It was designed to confirm that you have covered all the basics and really focused before the start of your business
Take some time to ask the following questions
1. I have focused on a particular product or service?
2. Can my company be made at home? Online? Storefront? Franchise?
3. Have I acknowledged my competition and limitations?
4. I Developed a clear marketing plan?Although serves a specific niche?
5. Do I have a one-year cash flow projections prepared to ensure there is ongoing liquidity?
6. Where appropriate, I have the required e-commerce tools in place?
7. Are all insurance in force?
8. Is my business plan complete and in written form? Is it pre-opening, first year and long-term planning?
9. I have taken the time to gain practical work experience and learn the basics of my business by first working inthe business for someone else?
10. Do I have enough for prototyping, research budgets, sampling and testing?
11. Have I successfully test marketed my product or service? If the answer is positive? If not, you need to test re-design, re-work, and again.
12. Do I need all the communications, computer and other business tools in place? Did I use them?
13 Have I selected and trained, the number of employees will I need?
14. Have I determined my personalWork?
Also ensure that the following elements of the structure of your business are available. Ask yourself:
1. Are my accounting systems available? I have interviewed and selected an accountant? My accountant has fully justified the difference between renting independent contractors and employees and the importance of compliance with IRS rules?
2. Are my plants ready? This includes a lease agreement signed and completed my tenant improvements.
3. Haveall permits and licenses secured?
4. Has the company been registered? Check with my lawyer.
5. Are computers, telephones, cell phones, fax and utilities?
6. Are graphics for advertising and promotional materials ready?
7. Is the domain name registered and the site online?
8. Are all security systems, including the protection of the premises, shrink control and internal security?
For further reading on startup basics, read thisItem: http://www.entrepreneur.com/startingabusiness/startupbasics/article76366.html. For the current reading, visit http://startup.wsj.com.
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