Starting a New Business? Before You Forget...

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Starting a business is exciting and stressful. With so many decisions, it's easy to get distracted. Proper planning helps you focus on the most important aspects of launching and growing a business venture. 

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Learning the ropes

Read books and tap into resources that teach you how to maneuver your industry so you can avoid the startup mistakes others have made before you. Think about joining a trade organization and your local chamber of commerce to speak with colleagues and other small business owners. 

READ MORE: What Is a Business?

Making a business plan

You need a general idea of how you plan to operate your business and make money. Take the time to establish your product/service lines and pricing well before the launch date. Once you are up and running, you'll have less time to devote to these essential functions.

TIP: Use a business plan checklist to stay on track.

Bookkeeping 101

It's time to learn how to keep your books so you can experience a substantial return on the investment of time and money you're making into your business. Without organized records, reports, and projections, you cannot make informed business decisions.

TIP: Download our chart of accounts example and bookkeeping spreadsheet to help launch your books.

READ MORE: 101 Tax Write-Offs That Will Help You Save Money

DISCLAIMER: Please consult with your accountant, attorney, and financial advisor before implementing any information displayed on this website. DIY research does not replace the advice of a licensed professional who has thoroughly reviewed your file.