How to Start a Small Business: A Complete Guide

There are no limits on who can become a great entrepreneur. You don't necessarily need a college degree, a bunch of money in the bank or even business experience to start something that could become the next major success. Talk to any entrepreneur or small business owner and you'll quickly learn that starting a business requires a lot of work. Generating a business idea is a great starting point, but an idea doesn't become a business without effort. Some budding entrepreneurs understand the effort necessary to create a business, but they might not be familiar with the many steps required to launch a business venture. If you're willing to put in the effort to build a business, you're going to want to know the steps needed to reach your goals. Use and copy the checklist below to guide yourself!

• Do you have a specific business idea?

• Do you have a name for your business? Make sure it is not copyrighted.

• Have you created a tagline or slogan for your business.

• Do you have a name for your product or service?

• Do you have a company logo and color scheme?

• Have you created an inventory of your assets that can help you start your business? This includes skills, experiences, and colleagues that can help you get a running start.

• Have you pitched your business to anyone yet?

• Do you have a business plan, either simple or detailed?

• Do you have a functioning website?

• Do you have a social media presence?

• Have you identified your target customer segment?

• Have you interviewed potential customers?

• Have you analyzed your competitors?

• Have you had at least one paying customer?

• Have you hired anyone?

• Have you been matched with a business advisor or mentor?

• Have you completed the Skysthelimit.org Entrepreneur Onboarding?

• Have you created an online profile with SkystheLimit.org?

• Have you participated in funding rounds like the Friends & Family Fund or done similar fundraising initiatives?

• Have you designed your first product or service based on what your customers want and need?

• Do you know where to get the equipment and materials you need for your product/service?

• Do you have promotional materials like email campaigns, flyers, and business cards ready?

• Have you created a startup and operating budget for your business including the costs of materials, equipment, marketing, etc.?

• Have you created a business banking account like a separate checking account and credit card?

• Have you created a financial plan to estimate how much money your business will make and how much your business will cost?

• Do you have the proper licenses, permits, insurance, or liability forms from the City or State or Federal government?

• Do you know how to get your product or service to your customer? For example: online; in local stores; at farmer's markets; in their home.

• Do you know what price you are offering your product or service at?

• Have you set your goals for the year?