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TABLE OF CONTENTS

Who this book is for

About Rhonda Abrams

Introduction

Week 1 Lay the Foundation

#1: Clarify your business concept

Identify your personal goals

Spell out your business values

Remind yourself of your source of inspiration

Describe your business concept

Identify your strategic position

Decide whether you want partners

Decide whether you want investors

Consider potential exit strategies

Discuss the impact of starting a business with your family

Make an appointment with an SBDC counselor

#2: Create your company identity

Choose a name

Check out trademarks

Secure a domain name

Consider logos, taglines, and colors

Meet with a graphic designer

#3: Get organized

Set up files

Create digital records

Set up a contact management system

Keep track of your company’s vital statistics

Keep track of expenses

Week 2 Get the Info You Need

#1: Learn more about your industry

Make a list of your research questions

Contact your industry association(s)

Do online research

#2: Research your target market

Define your target market

Determine if there are enough customers

#3: Check out your competition

Identify your competitors

Analyze your competition

Compare competitors’ pricing

#4: Find suppliers

#5: Consider strategic partners

#6: Broaden or establish your network

Attend a community, entrepreneur, or industry organization meeting

Build your online connections

Week 3 Cut Through Red Tape

#1: Deal with legal and licensing matters

Choose a legal form and ownership structure for your company

Discuss ownership of your company

Apply for business licenses, permits, and identification numbers

Discuss collecting sales tax

Draw up basic contracts and other legal agreements

Protect your intellectual property

#2: Build your team and personnel structure

Consider your support structure

Decide who you need on your team

Figure out how much you can afford

Examine the use of independent contractors

Understand employment laws and consider your personnel policies

Appraise your management style

Week 4 Take Care of Operations

#1: Find and secure a location

Option A: Rent space

Decide on the necessary attributes of your location

Meet with a real estate agent

Compare properties

Consider whether you need more than one location

Option B: Set up a home office

Find the space to work

Figure out your phone, fax, and Internet connections

Plan how to meet with customers

Decide whether you need a separate business address

Understand home-based office tax deductions

Plan ways to separate work life from home life

Deal with kids and pets

Option C: Set up an “office” in your vehicle

Option D: Search for shared space: Incubator, accelerators, and coworking spaces

#2: Design your work space and production process

Design your layout

Design your production process

Order/install utilities and facility improvements

Get furniture and equipment

Order inventory and/or raw materials

#3: Research and purchase computers, software, and other technology

Develop an approach to buying technology

Choose a phone system

Choose software

Choose hardware

Get online

Meet your mobile needs

Find ways to get technical help

#4: Consider how you will distribute your products

#5: Design procedures for handling administrative tasks

#6: Deal with insurance

Week 5 Deal with Money Issues

#1: Deal with money matters

Meet with an accountant

Learn the lingo

Take stock of your personal financial situation

Clean up your credit

Set up your books

Establish your prices

Open a bank account

Consider accepting credit cards

Prepare simple financial forecasts

Learn about taxes

#2: Consider financing

Determine whose money you want

Develop a business plan

Week 6 Open Your Doors!

#1 : Develop a marketing plan

Clarify your company’s message

Come up with your Elevator Pitch

Decide on marketing vehicles

#2: Set up a simple website

#3: Begin online marketing

#4: Start making sales

#5: Hold your grand opening

#6: Look toward the future

Index

Worksheets

Goals for Starting my Business

My Personal Goals: The Four Cs

My Business Values

My Role Models

My “Bright Idea”

My Business Concept

Basic Business Description

Discussing Partnership Terms

Business Name Comparison Chart

Creating My Identity

My Research Questions

Research Sources

Who Are My Customers?

My Customer Profile

Size of My Market

My Competitors

Competitors’ Price Comparison Chart

Potential Strategic Partners

Organizations to Join

Types of Legal Forms of U.S. Business Organizations

People You’ve Given or Promised Stock

Stock Distribution Plan

Business Licenses and Permits

Vital Statistics

My Support System

Whom Do I Need on My Team

How Much Can I Afford?

My Personnel Policies

Recruiting Employees

My Leadership Skills

Things to Consider when Renting Space

Location/Space Comparison Chart

Mobile Office Plan

Office Move-In Checklist

Floor Plan Layout

Designing My Production Process

Warranties and Service Contracts

Furniture Shopping List

Equipment Shopping List

Supplier Comparison Chart

My Phone Needs

My Hardware Needs

My Software Needs

Comparison Chart: Internet Hosting Companies

Distribution Agreement

Retailer Comparison Chart

Comparison Chart: Insurance Coverage