Small Business and Self-Employed Business Owners Help Center

A 10 Step Guide to Successful Small Business Management

Print out the Step-by-step Checklist

Make your business run better and more profitably

Table of Contents

Ten Building Blocks
to Success:
 1. Starting a Business
 2. Financing a business
 3. Company Name
 4. Office Equipment
 5. Hiring
 6. Business Insurance
 7. Advertising
 8. Efficiency
 9. Pension Plans
 10. Succession Plans

Checklist for Success

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Checklist For Success

The Ten Building Blocks to Success

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Step #1: Starting a Business
        (  ) Buying a Business:
        (  ) Find a business
        (  ) Ask to see the books
        (  ) Evaluate the business
        (  ) Make an offer
        (  ) Write up contract
        (  ) Make a Business Plan

Step #2: Financing
        (  ) Use Personal Finances
        (  ) Use Home Equity Loan
        (  ) Use Personal Credit Cards
        (  ) Apply for Bank Loans
        (  ) Apply for Small Business Loans

Step #3: The Company Name
        (  ) Choose business structure:
                Sole Proprietor, Partnership, Limited Liability Company (LLC), C-Corp, S-Corp.
        (  ) Apply for Employer Identification Number

Step #4: The Office
    (  ) Home Office or Outside Office
    (  ) Computer - PC or Laptop
    (  ) Printer, Fax, Scanner, & Copier
    (  ) Desk, chairs, shelves & filing cabinets
    (  ) Software - QuickBooks

Step #5: Hiring & Firing
    (  ) Where to locate new employees - Newspapers, other businesses, Craigslist
    (  ) The interview - Keep it professional
    (  ) Make the job offer in writing
    (  ) Tax forms for new hires - W-4 and I-9
    (  ) Hiring subcontractors- Ask for Copies of their insurance policies.

Step #6: Insurance
    (  ) General Liability & Office Contents - The BOP policy
    (  ) Worker's Compensation
    (  ) Business Auto
    (  ) Malpractice or Errors and Omissions
    (  ) Business Umbrella Policy
    (  ) Life Insurance
    (  ) Disability insurance
    (  ) Medical Insurance
    (  ) Long Term Care Insurance

Step #7: Advertising
    (  ) Ads on your vehicle
    (  ) Call people who can refer business to you
    (  ) Mailing List
    (  ) Business Cards and Stationery
    (  ) Create a website
    (  ) Online advertising
    (  ) Attend local business meetings - Chamber of Commerce, Rotary, etc.
    (  ) Newspaper ads
    (  ) Sponsor youth athletic teams
    (  ) Hats, sweatshirts, T-shirts

Step #8: Efficiency & Time Management
    (  ) Don't put things off. Do it now!
    (  ) Make phone calls and appointments on Sunday
    (  ) Vacation Planning. Have someone covering the office.
    (  ) Answering machine or answering service.
    (  ) Bookkeeping. Stay current.

Step #9: Pension Planning
    (  ) IRA - Traditional or Roth
    (  ) Simplified Employee Pension (SEP)
    (  ) Simple IRA

Step #10: Business Succession Planning
    (  ) Decide who will succeed you as owner of the business
    (  ) Document your decision. Use a Will, trust or buy-sell agreement.
    (  ) Consult a professional for advice and legal documents.
    (  ) Make it known who you want to succeed you.

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