Starting a Business: The Great Big Checklist of Everything

This checklist (available in a downloadable version here) breaks down everything you must and should do when starting a business.

Mandatory tasks are required under the law in order to operate a valid and compliant business.

Recommended tasks, although not strictly required under the law, are tasks that should be undertaken in order to grow and protect a new business.

Ideation & Protecting Ideas

Mandatory

•           Pick a company name and check any potential trademark infringements on Trademarkiaor KnowEm.

•           Determine whether your business name needs to be trademarked, and if does Trademark it at the USPTO.

•           Protect your written works and code through the Copyright Office.

•           If you are inventing or creating a product, understand patents and register for one at theUSPTO.

Recommended

•           Vet your idea with the idea checklist.

•           Protect your ideas when sharing them with others by using an NDA.

•           Search your state’s corporation and LLC name registration database to ensure your business name has not been taken.

•           Check Google, Yellow Pages, and local directories to ensure your business name is not taken.

•           Learn how to select a good business name.

Forming Your Entity

Mandatory

•           Pick a structure (Sole Proprietorship, Corporation, S-Corp, LLC, Partnership, LP, LLP, Non-Profit) and ensure that you comply with business formation requirements.

•           Creating a corporation? File Articles of Incorporation and Bylaws with the Secretary of State’s Office.

•           Forming an LLC? File the Articles of Organization and an Operating Agreement with the Secretary of State’s Office.

•           Get the necessary licenses and permits to operate legally.

•           Apply for an Employer Identification Number (EIN).

•           If you are incorporating, appoint a Board of Directors.

•           For a corporation and LCC, you must register a service agent.

Recommended

•           Going into a Partnership? Create a Partnership Agreement.

•           Check your state government’s website for other state-specific registration, taxation and employment rules.

•           Get your DBA (Doing Business As) which allows a business to operate under a fictitious name (this is required for sole proprietorships that want to operate under any name other than the name of the business owner).

•           Open your company bank account.

Identity and Branding

Recommended

•           Design a logo (99designs).

•           Search for and register a unique online domain name (GoDaddy, 1and1, Register).

•           Create your website (Wordpress, Intuit, Weebly, Wix, SiteKreator, GoDaddy).

•           Ensure your business name is available on a wide variety of social networking websites in order to develop consistent branding (KnowEm).

•           Create and manage your social media presence.

•           Get business cards and other physical collateral (Vistaprint).

•           List your business online with MerchantCircle, Manta, Yelp and DandB.com.

Financing and Business Planning

Recommended

•           Prepare for and create a Business Plan (if you need one).

•           Find sources of capital— friends & family, business bank loans, angel investment, venture capital or even crowdfunding (Crowdfunder, Fundable).

•           If seeking investors, create a business pitch deck.

•           For those issuing stock to finance the company (corporations), use a Shareholder’s Agreement.

Operations

Mandatory

•           Find a retail space, set up a home-based office or find an office space on LoopNet,OfficeFinder or ShowCase.

•           Choose a broker to help find an adequate business space on TheBrokerList.

•           For corporation, keep record of Meeting Minutes.

Recommended

•           Set up an online phone system (Ring Central, Google Voice, Onebox) or set up a traditional land line (Verizon, AT&T).

•           Set up your computer and network.

•           Pick an internal email system (Gmail, Outlook).

•           Choose an email system to connect with customers (Constant Contact, MailChimp,Sendgrid).

•           Set up a collaboration method for business documents, spreadsheets and presentations (GoogleApps).

Financial Planning & Accounting

Mandatory

•           Choose a tax year.

•           Determine which type of federal business taxes you will be responsible for.

•           Determine state tax obligations.

•           Create and maintain the top 3 financial statements: income statement, balance sheet and cash flows on at least a quarterly basis.

Recommended

•           Set up an accounting system (Quickbooks).

•           Find the right accountant.

•           Set a budget for the coming year.

•           Create a sales forecasts and financial projections regularly.

•           Get a business credit card and

•           Register with Dun & Bradstreet to build business credit and obtain a D-U-N-S Number to accurately gauge and share your creditworthiness.

•           If a corporation, decide whether to elect S Corporation tax status.

Business Mentors

Recommended

•           Speak to entrepreneurs and leaders in your industry and consider asking them to be your mentor.

•           Ask mentors to join your Board of Advisors (for the overall benefit of the company).

Building a Team

Mandatory

•           Determine the company founders and leadership (partnership, owners, CEO, etc.).

•           Clarify who gets equity, and how much.

•           Conduct job interviews—look out for red flags.

Recommended

•           Find team members through personal connections, recruiters or job boards (Ziprecruiter,Craigslist, Monster, Indeed, SimplyHired).

•           Run a background check on new hires.

•           For one-off or task based activities, use AmazonTurk or Odesk.

Human Resources

Mandatory

•           Make sure workers are properly classified (employee, independent contractor, part-time employee, intern, etc.).

•           Have employees fill out Form I-9 and Form W-4.

•           Familiarize yourself with the Department of Labor laws and regulations regarding

employment.

•           Put up the necessary labor law posters to meet federal and state requirements.

•           Familiarize yourself with federal discrimination laws and heed them

•           Terminate employees properly to avoid discrimination claims.

Recommended

•           Create job descriptions.

•           Understand the definition of an "At Will" employee.

•           Have workers sign the proper Employment Agreement.

•           Protect the inventions employees create for you with an Employee Non-Compete and Confidentiality Agreement.

•           Give all new employees an Employee Handbook.

•           Lay out the employee benefits you will provide (paid leave and holidays, health insurance, bonuses).

•           Choose a payroll service (ADP, Trinet, Paychex).

•           Set up a system for employee discipline.

Sales

Recommended

•           Determine a pricing system for your product(s).

•           Execute the 5 Step Sales Process.

•           Learn the art of persuasion.

•           Hire and train salespeople.

•           Use a sales management service (one that fits your business size, from smaller to largercompanies).

•           Pick a Customer Relationships Management System (CRM).

•           Make a Customer Service Plan to standardize procedures for complaints and refunds.

•           Track which products perform better, and which have the best margins.

•           Decide on possible discounts, specials and coupons to attract new customers.

•           List your products on online marketplaces.

Marketing & PR

Recommended

•           Plan your marketing strategy.

•           Decide on a target market and conduct a market analysis.

•           Determine your Key Performance Indicators.

•           Get free online traffic.

•           Improve SEO.

•           Get paid online ads, such as Google AdWords and Facebook Advertising.

•           Master social media marketing.

•           Look into relevant trade shows and conventions to market your product.

•           Print flyers, brochures or catalogs.

•           Leverage current customers with email marketing.

•           Decide if you want to hire a PR Agency.

•           Go mobile and consider app development.

•           Reach out to relevant newspapers and press.

Insurance

Mandatory

•           Decide which types of business insurance you need.

• Common: workers' compensation, unemployment and disability insurance.

• Others: property, liability or business overhead insurance.

Recommended

•           Check any potential insurance providers here

Legal

Recommended

•           Find an attorney you trust.

•           Use waivers and contracts to prevent litigation.

•           Prepare for when your company is sued.

CHECKLIST FOR YOUR SPECIFIC BUSINESS

Service-Based Businesses

Mandatory

•           Determine the price of your services.

Recommended

•           Don’t forget to clarify the deliverable, deadline and cost in your service agreement.

Retail/Brick and Mortar Businesses 

Mandatory

•           Check zoning laws.

•           Secure a lease.

•           Decide on days and hours of operation.

•           Determine staffing needs (for prime hours, slower times, closing an inventory).

•           Secure the correct permits and licenses for your city and state.

•           Set up lighting and utilities.

•           Acquire furniture, register, racks, tables and wall displays, a register, etc.

•           Get a state-specific Seller’s Permit or Resale Permit to properly collect sales tax.

Recommended

•           Choose a location with good foot traffic, size and appearance.

•           Speak with a commercial realtor to get an idea of what to look for and what to expect.

•           Establish agreements with your manufacturer, distributor or wholesale supplier.

•           Set up inventory tracking (understand a Stock Keeping Unit).

•           Set up your Yelp page.

Online Business

Mandatory

•           Purchase computers.

•           Find images for your website.

•           Set up your e-commerce or online store (Shopify, FlyingCart, Goodsie).

•           Choose a shipping or delivery system (FedEx, UPS, USPS).

•           Set up a system for payment processing (PayPal, Google Checkout).

Recommended

•           Track and improve traffic through Google Analytics.

•           Determine storage options, such as cloud computing (Box, DropBox).

•           Set up a system for IT bugs and tickets (Jira).

•           If outsourced development is needed, use Guru or Elance.