In part one and two of this business series, we have covered entrepreneurial skills required of you to be a successful business person and we have covered steps you should take before you set up your new business.
In part one and two of this business series, we have covered entrepreneurial skills required of you to be a successful business person and we have covered steps you should take before you set up your new business.
In this segment, we have put together a comprehensive checklist that will guide you in the process of starting a new business. Following through all the steps in the right order will ensure that no mistakes are made and you build your business on a solid foundation. Good luck!
• Assess your current skills and desired skills to successfully run the business.
• Personal SWOT (strengths, weaknesses, opportunities and threats) Analysis.
• Business Idea.
• Business Research
. • Get a business lawyer.
• Business Structure (LLP, LLC, PLC etc.)
• Create Business Plan inclusive of a marketing and financial plan.
• Choose Business name.
• Business Registration (get licenses or business permits)
• Get domain name for your website before it is taken.
• Get a business email address and set up your potential business on social media.
• Register trademark or copyright.
• Register for unique tax number and find out all the information about business taxes.
• Get funding.
• Open a corporate account.
• Get business location.
• Get insurance.
• Print business cards and pre-launch handbills.
• Hire staff.
• Order stock or inventory or office supplies.
• Start selling your business by word of mouth and advert placements.
• Set your launch date.
Now that you know the winning formula and you can run with it and achieve great business success.
Author: Chinwe Azikiwe
