Start-up Guide

With few exceptions, every business begins as a small business. Some stay small, others grow as the years pass. Profitability and future growth of a business are based on the ability to understand business operations and make good decisions.

It's important to get off to a good start and that's why we've developed this Start-up Guide. It is designed to walk you through the key steps in starting a business and provide you with the essential information that you will need. While almost all start-up businesses will eventually need to consider each of these categories, you may choose to go through each step in a different order than they are listed. Completion of this guide will give you a great start on your business.

Some of this material was taken from the NxLeveL Guide for Business Start-ups. The Washington SBDC delivers this 10-week course throughout the state. To find classes near you, contact the SBDC office nearest you.

First Steps to Starting a Small Business

• Step 1: Do you have what it takes?
  

  Do you know what going into business means for your income, lifestyle, family, and time? Complete this section to find out.

• Step 2: What business should you choose?
  

  You may think you already know what business is right for you or you may just want to be your own boss. Take the time to make a list and evaluate the possibilities.

• Step 3: Is your idea feasible?
  

  You've got a great idea but do others feel the same way? Do enough people or companies want your product or service? Do you know how many people will buy? Check it out before quitting your day job.

• Step 4: How will you finance the business?
  

  You've got the skills, a great idea, and a market, but what about the money? The number one reason that small businesses fail is because they did not have enough working capital to survive the first two years of operation. If you need to borrow additional money do you have 20-30% of the needed money that you are willing to invest in your company?

• Step 5: Get help from your local Washington SBDC advisor.
  

  Once you have completed this plan there's still a lot more to do, but now it's time to check in with a Washington SBDC advisor to see if you are ready for an appointment. You'll receive no-cost, confidential advising from business experts to help point you in the right direction. They'll help you through the complex maze of getting your business up and running. Contact information can be found here

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Insight ~ Solutions ~ Success

                     

The Washington SBDC is a partnership with the U.S. Small Business Administration, Washington State University and other Washington Institutions of higher education and economic development organizations. Funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the view of the SBA

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