Business Start Up Essentials Checklist

Starting a business is exciting but can feel overwhelming without the right guidance.

We’re here to support you as you put these pieces together. Whether it’s handling compliance, creating a solid financial plan, or developing customer strategies, you don’t have to do it alone. This checklist is your roadmap—and we’ll be right alongside you to make it happen.

1. Legal and Administrative Setup
□ Business Structure: Decide on the business entity (e.g., LLC, Corporation, Sole Proprietorship) based on liability, tax, and operational needs.
□ Business Registration: Register your business name and entity with the appropriate local and state authorities.
□ Licenses and Permits: Obtain any necessary permits or licenses based on your industry and location.
□ Tax ID: Apply for an Employer Identification Number (EIN) with the IRS for tax purposes.
□ Registered Agent: Designate a registered agent to receive legal documents.
□ Intellectual Property: If applicable, register and protect trademarks, copyrights, or patents.
□ Contracts and Agreements: Draft standard contracts for clients, vendors, or partners to ensure legal protection.
□ Compliance Calendar: Create a calendar for filing deadlines, permit renewals, and tax payments.
□ Business Continuity Plan: Develop a plan to handle unexpected disruptions (natural disasters, power outages, etc.).

2. Financial Infrastructure
□ Bank Account: Open a dedicated business bank account.
□ Accounting System: Set up accounting software (e.g., QuickBooks, Xero).
□ Budget and Financial Plan: Create a detailed budget and financial forecast.
□ Insurance: Get appropriate insurance (general liability, professional liability, property, etc.).
□ Payment Processing: Set up merchant accounts or payment gateways to accept payments.
□ Funding Sources: Secure funding (personal savings, loans, investors) and outline your funding strategy.
□ Credit Line: Establish business credit.
□ Invoicing System: Set up a streamlined invoicing process for efficient billing and payment tracking.
□ Tax Preparation and Filing: Establish a system or hire a professional to ensure tax compliance (quarterly estimates, deductions, etc.).
□ Profit Margin Analysis: Regularly evaluate and set target profit margins for products/services.

3. Business Plan
□ Mission and Vision: Define your business purpose and long-term goals.
□ Target Audience: Identify your ideal customers.
□ Product/Service Offering: Outline what you will sell and how it addresses customer pain points.
□ Marketing Strategy: Develop a plan for promoting your business.
□ Competitive Analysis: Analyze your competitors.
□ SWOT Analysis: Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats).
□ Exit Strategy: Outline an exit plan (e.g., sale, merger, or succession) to define long-term goals and contingency options.
□ Revenue Streams: Diversify income sources by exploring secondary offerings or passive income options.

4. Operations and Logistics
□ Standard Operating Procedures (SOPs): Document workflows.
□ Technology Stack: Invest in necessary tools and software.
□ Inventory/Service Delivery: Establish a system for managing inventory or delivering services.
□ Physical Space/Location: If needed, secure a physical location.
□ Suppliers/Vendors: Identify and establish relationships with suppliers.
□ Backup Systems: Implement regular backups for critical business data and systems.
□ Quality Control Measures: Define quality benchmarks and processes to ensure consistency.
□ Shipping and Fulfillment: Establish logistics for order delivery, if applicable, including return policies.

5. Team and People Management
□ Hiring Plan: Define roles and responsibilities.
□ Contracts and Policies: Develop employee or contractor agreements and workplace policies.
□ Payroll System: Implement a payroll system.
□ Onboarding Process: Create a plan for onboarding team members.
□ Training Programs: Provide professional development or skills training for employees or contractors.
□ Performance Evaluation System: Develop criteria for evaluating team performance and setting goals.
□ Conflict Resolution Policy: Plan for handling disputes or grievances in the workplace.

6. Customer and Client Management
□ Customer Relationship Management (CRM): Use a CRM system.
□ Feedback Mechanism: Set up ways to collect customer feedback.
□ Customer Service Strategy: Define how you will handle customer inquiries and support.
□ Loyalty Programs: Create incentives to encourage repeat business and customer retention.
□ Customer Segmentation: Analyze your audience to offer tailored services or products to different segments.
□ Case Studies and Testimonials: Build credibility by showcasing customer success stories.

7. Compliance and Risk Management
□ Data Security: Implement cybersecurity measures.
□ Compliance Checklist: Ensure adherence to industry and government regulations.
□ Contingency Plan: Develop a risk management plan.
□ Insurance (Specific Types): Consider industry-specific insurance.
□ Privacy Policy: Create a privacy policy that complies with data protection regulations.
□ Internal Audit System: Periodically review operations, finances, and compliance.
□ Environmental Policies: If applicable, incorporate sustainability practices into operations.
□ Employee Safety Measures: Ensure workplace safety protocols are in place, especially if there is a physical office or job site.

8. Brand and Marketing Essentials
□ Website: Create a professional website.
□ Brand Identity: Develop a logo, brand colors, and messaging.
□ Social Media Presence: Establish and maintain social media profiles.
□ Content Marketing: Develop a content strategy.
□ Email Marketing: Build an email list and use email marketing.
□ Marketing Budget: Allocate a specific budget to track marketing spend and ROI.
□ Affiliate or Influencer Marketing: Explore partnerships with influencers or affiliates to expand your reach.
□ SEO and PPC: Optimize your website for search engines and consider running pay-per-click (PPC) campaigns.

9. Networking and Partnerships
□ Advisors or Mentors: Connect with experienced professionals.
□ Partnerships: Explore collaborations with other businesses.
□ Industry Associations: Join professional organizations or industry groups for networking opportunities.
□ Collaborative Projects: Work with other businesses on joint campaigns or initiatives.

10. Measurement and Growth Plan
□ KPIs: Define key performance indicators.
□ Scalability Plan: Plan for scaling your business.
□ Continuous Learning: Stay updated on industry trends.
□ Analytics and Tracking: Implement tools to track website traffic, marketing campaigns, and sales data.
□ Customer Lifetime Value (CLV): Track the long-term value of each customer to inform strategy.
□ Employee Engagement Metrics: Measure employee satisfaction and engagement to reduce turnover.
□ Milestone Tracking: Set and review milestones to ensure steady progress toward growth goals.