Constructing and implementing a business start-up plan is a necessary, but time-consuming and mind-reeling step to solvency. Without the proper goals or a rough outline of business operations, it becomes enormously hard to convince outside investors or associates as to the viability and professionalism of your business. In short: The nailing down of the brass tacks is the first and most profoundly important step to a business start-up plan.
Establishing Goals
Self-help juggernauts perennially implore the importance of establishing goals—deciding exactly what you want and how you can get there in a reasonably short period of time. In particular regards to the process of business start-up, this is a valuable evaluation since organization, determination, and focus are the keywords of commerce. Besides setting the sights and pin-pointing the details, establishing goals additionally aids in constructing a marketing plan (i.e. how you see your business in terms of goals directly translates into marketing). For instance: If Apple Computers sets a goal to be more environmental conscious in production, often times this goal will directly appear in their marketing strategy.
Licenses and Permits
Talk about brass tacks: licenses and permits are perhaps the most boring, yet extremely consequential facet of business start-up. Without federal, state, and local legitimacy (in the form of licenses and permits) business owners face fines, prison time, and forced closure. Governmental regulations and statutes might seem tedious, but despite the overwhelming bureaucracy of the process, they are needed. OSHA, unemployment insurance, short-term disability insurance, and worker’s compensation are a few of government enforced standards and practices that protect the general public from corporate neglect, whether intentional or otherwise. Businesses must conform to certain federal, state, county, and municipal laws concerning the treatment of employees (safety, discrimination, benefits), the treatment of the environment (emissions, transportation of wastes, production practices), and the treatment of consumers (i.e. the product itself; is the public safe while using it?). Prospective business owners should contact their state’s Secretary of State for information regarding specific regulations in their industry, state, and municipality.
Accountant and Attorney
An unavoidable and inevitable conclusion of business start-up is a heaping mound of paperwork that requires some finely-tuned attention. Someone must pour over the minute details surrounding the solvency of a business. Attorneys and accountants are solid investments when it comes to making heads or tails of corporate documents. Legal and financial advice are two things business owners can never have too much of. So, while going-it-alone is certainly an option, stacks of invoices, disbursements, accounts receivable, and accounts payable, facilitate the need for professional help (although the purchasing of accounting software often allays the constant flow of paperwork).
Building a reliable and efficient business foundation is no easy task, but, it simply must be done in order to lay the groundwork of success. Ascertaining the need for professional help, establishing goals (as well as a viable marketing strategy), paying applicable taxes, and filling out the necessary permits and licenses are vital steps in cementing this proper foundation (a foundation that will prevent toppling when struck with inevitable curveballs and unknowns). Remember: When the business world gives you lemons, be ready to make lemonade—just make sure you have change.
By Jean-Pierre Lacrampe