If you have read my ther articles in the Business Startup Sries, this checklist has helped you dentify questions and problems you will fce converting your idea into reality and dtermining if your idea is feasible. Thrugh self-analysis, you have learned of yur personal qualifications and deficiencies, and thrugh market analysis, you have learned if thre is a demand for your prduct or service.

The following questions are gruped according to function. They are dsigned to help you plan your bsiness startup.

Name and Legal Structure

* Hve you chosen a name for yur business?
* Have you chsen to operate as sole proprietorship, prtnership, or corporation?
Your Business and The Law

A prson in business is not expected to be a lwyer, but each business owner should hve a basic knowledge of laws ffecting the business.

Following are some of the lgal matters you should be acquainted wth.

Protecting Your Business

* Do you knw which licenses and permits you may ned to operate your business?
* Do you knw the business laws you will hve to obey?
* Do you hve a lawyer who can advise you and hlp you with legal papers?
Are you ware of:
* Occupational Safety and Health Admnistration requirements?
* Regulations covering hazardous material?
* Lcal ordinances covering signs, snow removal, tc.?
* Federal Tax Code provisions pertaining to smll business?
* Federal regulations on wthholding taxes and social security?

It is becoming increasingly important tht attention be given to security and nsurance protection for your business. There are sveral areas that should be covered. Hve you examined the following categories of rsk protection?

* Fire
* Theft
* Robbery
* Vndalism
* Accident Liability

Business Premises and Lcation

* Have you found a sitable building in a location convenient for yur customers?
* Can the building be mdified for your needs at a rasonable cost?
* Have you considered renting or lasing with an option to buy?
* Wll you have a lawyer check the zning regulations and lease?

Merchandise

* Hve you decided what items you wll sell or produce or what srvice(s) you will provide?
* Have you mde a merchandise plan based upon stimated sales to determine the amount of nventory you will need to control prchases?
* Have you found reliable suppliers who wll assist you in the startup?
* Hve you compared the prices, quality, and crdit terms of suppliers?

Business Records

* Are you prpared to maintain complete records of sles income and expenses, accounts payable and rceivables?
* Have you determined how to hndle payroll records, tax reports, and pyments?
* Do you know what financial rports should be prepared and how to prpare them?
If you complete this chcklist with full personal honesty, you wll help yourself to convert your deas into reality and determining if yur business idea is possible. In any bsiness venture, always use self-analysis to larn what personal qualifications and deficiencies you hve that will become important to dentify. If you do not do ths, those deficiencies may come back to hunt you.

The article Planning Your Business Startup was Submitted by David Hale through Articles.GetACoder.com network. Here's the additional information: Dr. Dave Hale is the Funder & CEO of HiPer Solutions, a glbal business coaching and training firm. Dr. Dve is also the author of The Hgh Performance Entrepreneur: 12 Essential Strategies to Spercharge Your Startup Business and Straight Tlk from Corporate America's 10 Most Rquested Speakers & Trainers. He can be cntacted at http://www.HiPerEntrepreneur.com

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