Research and Plan

• The first subject to assess before starting your small business is you. Evaluate your personal characteristics, honestly asking yourself questions about your readiness and skills to start and maintain a business. Study the industry you are entering and craft a business plan that specifies the mission and goals of your business. The plan also should provide a road map of how your business will achieve each goal.
  
  

Finance

• You will need to plant the seed money to breathe life into your business. Use your own savings or turn to family, friends and colleagues. Because funding is such a crucial ingredient in a small business' success or failure, and also because financing a startup with no proven track record is riskier to potential outside investors, have a clearly defined purpose for the seed money in your plan.
  
  

Register

• You must decide on the structure and name of your business, register your business name, and visit your state government's website to obtain the proper tax identification number. Visit the IRS website, irs.gov, in order to obtain an employer identification number, or EIN. Also, obtain the necessary local, state and federal licensing required for your venture.