Do a quick search on Google for a “small business start-up checklist” or a “guide to small business start-up” and you’ll get back many really informative articles (a few of which I will reference here). But what if in your case there is very little money available to turn your idea into a viable, operating business? Moreover, what if your available time is limited because you are trying to start your new business while simultaneously going to college or working a day job?
Though the trite truism “where there’s a will, there’s a way” certainly applies here, those looking to start their own businesses must still come to terms with their current financial, economic, and market realities.
The following series of posts will offer a step-by-step guide to small or home business start-up, small business start-up tips, and a whole bunch of business resources specifically targeted to the budget-strapped, time-strapped entrepreneur.
New: There is a downloadable, small business start-up checklist that goes along with this series. The document can be found here.
I have a few goals in mind with this series of posts:
- To help the frugal entrepreneur get the resources he or she needs to successfully (and responsibly) start a new business
- To offer a down to earth, step-by-step guide to small business start-up
- To help aspiring entrepreneurs decide if they should really be persuing a new business in the first place
The Steps of Small Business Start-up
***Note: I tried to put these steps in the order that they would need to be accomplished. But, keep in mind that depending on the situation, this order may need to change. If you are planning on running your business from a home office, for example, then you would need to be aware of the local zoning laws early on before you invest significant money or time into the process.
Step 1: Conducting Research & Development
Step 2: Approximate Your Start-up Costs
Step 3: Determine Your Available and Potential Resources
Step 4: Determine Your Location
Step 5: Develop a Business Plan
Step 6: Apply for Outside Financing
Step 7: Set Up a Legal Business Entity
Step 8: Get Your Accounting System Up and Running
Step 10: Build Up a Business Credit Profile
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Hey The Frugal Entrepreneur,
Cool Post, Want a business making money online? If you said yes, you must be prepared and furnished with the right wisdom, able to put in the time, effort, and strive frequently. Beginning such an enterprise online is more difficult than you contemplate. If you want to achieve prosperity, then you must muster up the effort just as with any regular office occupation.
Keep up the posts!
Thanks for posting this series it really is a great way to dive into home businesses.
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