8 Biz Start Up Essentials

 1. Make sure to have the proper business license sometimes known as a tax registration certificate.  Contact city hall, state government office or federal government office for more information about proper licenses and permits your small business may need.  2. Marketing is about communication so you need the basics: get business cards, domain name registration and establish a website or social networking site like linkedin or facebook. 3. Workspace: whether its a table in your bedroom, a corner of  the garage, or a 600 sq.ft. office-you need a place to focus on your business. 4. Know your credit score and understand what’s on your credit report. Go to www. myfico.com for more information. 5.  Develop a good business plan to use as a navigational tool. Writing the business plan is a very good brain drain exercise to get the ideas out of  your head and onto paper. It helps to formulate concepts, compile data and is a way for you to commit to your dreams. 6. Take a skills inventory. What are you really exceptionally good at doing?  Do have skills which need strengthening? Are there skills you need to learn? 7. Create a ” source and use” statement to determine start up costs and the source of money to meet these expenses.  How much money do you have to invest in your business? How much of a loan do you need? or perhaps a line of credit. Please do not use credit cards for this purpose, if you have other choices. 8.  Liability insurance  really can bring peace of mind.  Some businesses cant get started without it.  If you don’t know if you you need insurance or don’t know the type of insurance you might need speak with others in your industry, contact an industry association or call an insurance agent for more information.