Business Startup Checklist

Starting up a business is not monumental work. It is like any other goal you have done in your life. You worked hard and achieved it; well is the same with a business, you have to work hard to achieve success.  

If you commit to working hard, the rewards are enormous. 

Make sure you check each of these suggestion lists to ensure that you are following the right path.  

Discover a good business idea

Finding a good idea is not looking for gold in the middle of the Pacific Ocean; it must be something you like and will not get tired of doing every day. It should be a job that you enjoy, and no matter the circumstances, you will not give up. 

Find something you have fun with or something that helps the community, but no matter your idea, work hard for it.  

— Come up with a business idea that caters to your strengths

— Define what success looks like for you

— Perform a SWOT analysis to identify your strengths and weaknesses

 — Do your research: What are popular businesses today?

Do Market Research for your Idea and take it for a test

Ideas are everywhere you look if you are willing to search. Sometimes we have great ideas, but fear comes our way and stops us from succeeding. Don’t let others dictate what you think. You will work hard to make it real if it is in your heart.  

Make a search on the internet for your idea. Check how many others have done it. Verify your competitors; how many are there?  How can you improve others? Let people analyze it and tell you what should be improved. Do surveys, and conduct interviews, but be careful someone else won’t still your idea. Always be aware.   

— Define the needs of your potential customers and how your idea is solving them

— Specify the solutions your idea is presenting

— Define your target market and ideal customer

— Find out the best place to set up your business

— What advantages does your solution have over your competitors?

— Shape the team that will help you implement your idea

— Make a basic financial plan (estimate your startup expenses and project sales to ensure that you can make a profit with your business)

— Map detailed business milestones or goals and the time taken to achieve them

— Confirm your idea: conduct surveys to make sure you are solving real problems or needs

–Validate if your prices pair the solutions and if your customers can afford them

Funding needs a Detailed Business Plan

Are you looking for funding for your new idea? Then you will need a detailed business plan. This e-Commerce Math section will help you do the process and details.  

What should a Detailed Business Plan include: 

— Executive summary

–Company Overview

–List your products and services and the problems they are solving or needs they are fulfilling

— Market target research and details

–Marketing and Sales plan

— Key milestones and metrics

— All your management team

— Detailed financial plan

— An appendix

— Make an elevator pitch

–Present Licenses or Registrations

Brand your business

Branding is the action to make people know who you are. 

If you don’t work on your branding,  how will people find you? Indeed, branding is not inexpensive, but it is necessary to attract customers and loyal buyers.  

— Decide on a business name; you can have a domain and trademark

— Select your logo, and your unique selling proposition or value proposition

— Develop a tagline

— Identify your brand’s archetype—what connects you with your customer on an emotional level

— Define the look of your brand: colors, font, style

Define your Legal Structure 

If you are doing e-commerce, you can hold on to this until a couple of weeks before opening the store. The reason is that e-commerce doesn’t need the same permits as a physical store. If you are opening a physical store, you need to have all your permits up to date, including your legal structure.  

— Decide on a legal structure or business structure: LLC, Corp., Sole Proprietary, etc.

— Register your business name

— Register for a domain name that matches your business name

— File for trademark protection 

— Obtain any federal and state licenses or permits that you need

— Obtain your federal business tax ID number (also called your Employer Identification Number)

— Find an attorney; it will be beneficial for the trademark and all other legal aspects 

Get financed (only if you need it) 

Filling out finance is not an easy task. Banks request plenty of documentation and experience; honestly, it all depends on the type of business.  Financial institutions always check for a way to repay. So, please have all your documents ready and go for it.  

— Estimate your startup costs

— Decide whether you will use personal finances along with loans, investor money, money from friends and family, or crowd-sourced finances

— Prepare the relevant financial statements

— Sales forecast

— Income Statement

— Cash flow statement

— Balance sheet

— Improve your elevator pitch for investors

— Apply for Financing

— Open a business bank account

— Set up an accounting system

— Know your exit strategy, and how you would repay if things don’t go your way

Set up shop

Wow, you are almost there. Aren’t you excited? You have just a few more details to go.  

— Find a business location or e-commerce like Zona Shoppers that specializes in Small Business

— Purchase insurance no matter if you have a physical or e-commerce; a lawsuit can happen to anyone 

— Get Workers’ compensation insurance if you have employees or for yourself

— Get General liability insurance

— Property or casualty coverage

— Life insurance

— Disability insurance

_Plan for your employees’ schedules: full-time, part-time or freelance

–Draft job descriptions

–Post advertisements for the jobs

— Interview and hire employees

— Set up your technology: special accounting software is a plus, an inventory software, and all others

— Point of sale (POS) systems

— CRM

— Billing and payment systems

— Accounting

— Email

— Phone systems

Market and launch your business

For your convenience, Zona Shoppers offers marketing campaigns already included in the memberships. The memberships are very affordable and comparable to Shopify. Don’t let anything stop you from succeeding. 

If you want to open a store or e-commerce by yourself, here are the main options for the marketing phase.  

— Create a marketing plan

— Network, use social media, postal, news, anything you can think of

— Create your marketing materials

— Shop signs

— Stationery, invoices, and PowerPoints

— Brochures and flyers

— Create a website

— Register a domain name 

— Purchase hosting

— Build your site

— Get your site listed on key directories

— Get set up on social media platforms

— If necessary, create t-shirts or uniforms

— Let the press know when you’re opening

— Organize an opening day