Starting a Business: The Great Big Checklist of Everything

This checklist 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 Trademarkia or 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 the USPTO

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 / 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)
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)
If seeking investors, create a business pitch deck
For those issuing stock to finance the company (corporations), use a Shareholders 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 (Google Voice, Ring Central, Onebox) or set up a traditional landline (AT&T, Verizon)
Set up your computer and network
Pick an internal email system (Gmail, Outlook)
Choose an email system to connect with customers (MailChimp, Constant Contact, Sendgrid)
Set up a collaboration method for business documents, spreadsheets and presentations (Google Apps)

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, 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 Amazon Turk 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 larger companies)
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