Checklist - Am I Ready to Start a Business?
Startup Basics: Test your business idea and identify the key factors that influence startup success. Gain an overview of the skills and tools needed when deciding to start a business. Discuss the advantages and disadvantages of owning a business, the most profitable form for specific businesses, and the fundamentals of formation, organization, marketing, cash flow, and funding sources.
Business Concepts: Identify your target markets, describe your products and services and collect key competitive information to support the feasibility plan. Review your understanding of business concepts and gain step-by-step guidance in researching your idea, market, and competition.
Marketing Plan: Learn marketing, communication methods, and tools to maximize customer reach. Understand pricing strategies, positioning, differences between features and benefits, and marketing strategies. Gain skills on how to outline your marketing strategy, test your message, choose the correct sales channel, and exercise your strategies.
Financial Projections and Funding Sources: Review sales and prices, financial risks and rewards, true startup costs, ongoing operating expenses, setting benchmarks for tracking progress and organization of all your financial information. Discuss financing your business, accounting, banking relations, and monthly preparation and review of financial statements.