As a new or potential owner, a business start-up checklist can be a very useful tool in launching your business. It ensures that you give careful consideration to the most important aspects of setting up your business with the result that the launch goes smoother with fewer hitches.

One you have decided on a business idea, hopefully it is one that you are passionate about, then you need to do the following as detailed below:

1. Conduct your market research
2. Write out your business plan
3. Appoint a solicitor or an accountant
4. Decide on the legal structure for your new business with the help of your professional advisers
5. Decide on the business model you will adopt
6. Consider the very important topic of funding for your new business venture
7. You need to open a business account for your new business and establish lines of credit
8. Consider the logistics of the business. This may include contacting suppliers of your raw materials and opening up accounts with them. Also establishing a line of credit with them could go a long way towards improving the cashflow of your business especially at the initial stage.
9. Recruiting of Staff – unless you plan to operate a one man venture or a partnership with some or all partners active in your business, then you will need staff to help you run it. What is important to consider is what your employees will bring in, to add value to your business, in exchange for their payment. Before starting the recruitment process, you will need to decide on the level of experience you would like them to have. Whatever your prospective employee brings to your business should be in line with the overall objectives of you as a business are trying to achieve. Employing staff either on a full- time or part- time basis would have varying impacts on how you run your business as well as on your cash flow so this also has to be taken into consideration.
10. Training requirements for Staff – ideally you will want to get your business ready to serve customers once you open your doors. So, selecting one or two key staff and training them on the fundamentals of your business is essential in the run up to the big day
11. Decide on the open day and start off with a bang – a press release within a week of opening, sending out invitations to your neighbours, balloons and all to attract as much attention as possible and kickstart the marketing process, if it is not already underway.
12. Market your business consistently after deciding on a marketing strategy based on the results of your market research.

Using these points as a planning tool, when looking to launch your business can make the difference between a stressful or stress-free launch. Because you have the information you require at your fingertips, it will also save you time because you will be better organized.

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Onokerhonranye has a passion for helping and empowering her clients with information and tools to help them achieve their goals and dreams.