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Thread: Checklist for Starting a New Business

  1. #1
    Will.Spencer's Avatar
    Will.Spencer is offline Retired
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    Checklist for Starting a New Business

    I wrote Business Startup Tasks a few years ago.

    While it is a good start, I feel that it's missing a huge number of important tasks.

    Can you help me identify those missing tasks?
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    eXe (30 December, 2008)

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    coolbloggerman is offline Newbie Net Builder
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    Wow...that's really amazing...I see you have mentioned all the necessary things which can help to grow business...well, I don't know much about Business Management as right now I am student of Management..Anyways, I learn lots of from your article....thank you sir

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    Poseidon's Avatar
    Poseidon is offline Newbie Net Builder
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    Great read, do not forget to mention Amar Bhide's Origin and Evolution of New Business too

    Will, The forum is certainly doing really well adding tons of quality content. Are you also getting spammed as I know VB is very prone to bots and spammers ?

  5. #4
    DickTracy is offline Newbie Net Builder
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    Nice list. I would include also

    - clear statement of business goals and how they will be achieved

    - financial business plan (both short term and long term)
    - monthly budget
    - management accounts to compare results wth budgets

    - I see sales but didn't notice finding / negotiating with suppliers

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    krnchx's Avatar
    krnchx is offline Newbie Net Builder
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    All of the above and:

    Passion, something to "prove", pride, endurance....

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    elbandelero's Avatar
    elbandelero is offline Net Builder
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    New here, haven't looked for an introduction thread or forum yet, but the title of this thread caught my attention.

    With the greatest of respect, if this is to be a guide for new businesses starting up, then you are lacking business plan formulation, and analysis of strengths and weaknesses.

    Prior to a business being setup there are usually a lot of costs that can be absorbed into the new business after creation, so at the very least keeping an accurate expenses summary is critical.

    Under marketing I'd make sure you also cover market research (size of market, demographics, location etc) and test the market before you even begin the process of incorporation.

  8. #7
    krnchx's Avatar
    krnchx is offline Newbie Net Builder
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    Quote Originally Posted by elbandelero View Post
    With the greatest of respect, if this is to be a guide for new businesses starting up, then you are lacking business plan formulation, and analysis of strengths and weaknesses.
    I think we're all sharing parts of our own experiences, not aiming for an A to Z guide for anyone to start any business.

    Quote Originally Posted by elbandelero View Post
    Prior to a business being setup there are usually a lot of costs that can be absorbed into the new business after creation, so at the very least keeping an accurate expenses summary is critical.
    Great point! Your accountant will love you (strange breeds: they bill by the hour, but love it when you simplify their lives...) while minimizing your taxable income. It's much easier to keep clean books from day one - which often "feels" strange, since tracking these things often happens before it's known if the business is even sustainable (aka, before any revenue's generated).

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    thoran is offline Newbie Net Builder
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    Nice info in the link WIll.

  10. #9
    superfast502 is offline Unknown Net Builder
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    I think one of the larger things that is most often overlooked when starting a business is the answer to the question -

    How does this business fit in my overall life? Do I have a primary goal or vision for my life and does this business and its requirements run parallel to contradictory to this?

    Also, I see many people start a business without being able to answer - Is this business worth it? Of course, everyone wants a successful business, but really? How many times have you driven down the street and seen the Corvette rental business in a snow state? Or the specialized mechanic/custom auto builder who can maybe produce a few autos per year with revenue of maybe a few grand per auto? Are these worth it?

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