Checklist for Starting a Business

From the Small Business Administration

Owning a business is the dream of many Americans ... starting that business converts your dreams into reality. However, there is a gap between dreams and reality. Your dreams can only be achieved with careful planning. As an entrepreneur, you will need a plan to avoid pitfalls, to achieve your goals, and to build a profitable business.

This checklist is designed to help you get started. It has seven key components:

• Identify Your Reasons
• Self Analysis
• Personal Skills and Experience
• Finding a Niche
• Market Analysis
• Planning Your Startup; and
• Finances

Each component is comprehensive and is designed to prepare you for self employment. In addition, each component includes an analysis of you responses as well as a menu of supporting resources.

1. IDENTIFY YOUR REASONS
As a first and often overlooked step, ask yourself why you want to own your own business. Check the reasons that apply to you.