Step 1: Create a business idea. Whether it’s a pizza parlor, clothing store, or gift shop, make sure you have some kind of idea in mind.  If you are not sure, look into the possibility of buying a franchise or an existing business.

Step 2: Write a business plan.  This will be very important when asking a financial institute to fund your business. Tell how you will market your business, and list your strategies and financial projections.

 Step 3: Financing. If your business plan is well thought out and well written, you can know search for funds. There are three options; friends and family, investors, and bank loans.  Research all three carefully before making your decision.

 Step 4: Getting started. Now that you have your plan and funding, there are legal issues to consider.  Sole Proprietorship, Partnership, or corporation.  Choosing the legal structure will impact the financial decision. Once you have made your decision, you can file with the state to obtain a federal identification number.

 Step 5: Opening the Doors. In order to open the doors, you must have a location in mind. Will you work out of your home or in a commercial space? What about hiring employees? Don’t forget bookkeeping. What about an accountant for taxes and payroll. 

 With all this information, it can be overwhelming. Don’t Worry! We can help you every step of the way.  If you are truly ready to start your own business, these are just speed bumps along the road to success.