Steps to Starting a Business

Selecting the Idea

• Consider work experience, hobbies, consumer experiences
• Fill an existing need in the marketplace

Testing the Market

• Learn everything about the business, industry, marketplace
• Know your competition and customers

Acquiring Capital

• 70% of all start-ups funded with equity financing
• 6 C's of Capital: Cash, Credit, Collateral, Capacity to repay, Condition of the industry, Character

WRiting a Business Plan

• 3 reasons to write a business plan: communication tool, road map, objective look

Turning for Help

• Accountant, attorney, banker, insurance agent, management consultant, government service providers, mentor

Understanding Legal Requirements

• Legal forms of organization
• Licenses, permits and taxes

Putting it All Together

• Attend workshops in the STARTUP series
• Use the SBDC Help Desk for basic questions
• Make an appointment with an SBDC Certified Business Analyst

The 7 Steps to Starting a Business form the basis of the curriculum taught in the three-hour "How to STARTUP Your Own Business" workshop.  A schedule of workshops includes this workshop, as well as a number of other STARTUP training programs including Marketing 101, Where's the Money?, Coming Out of the Shoebox, Taking the AX out of Taxes, and Business Plan for Startups.