What To Do Before Starting A Business

Based upon the SCU MOBI curriculum, here is a checklist to help guide your launch!

You have established the following for your business:
- Name of your business (including DBA that has been registered and secured).
- Definition and description of products or services your business will offer.
- Ways and places where products/services will be available for purchase. (When and where the customer will buy from you.)
- Demand and sustainability for this business based on target customers and the market.
- Price point of the products/services.
- Any limitations of your product/service as well as how to work around them.

You have researched the primary competitors/best competition in the market including:
- Direct Competitors
- Indirect Competitors

Your business will be: (please select all that apply)
- Home-Based
- Freelance
- Independent
- Online/Ecommerce
- Storefront/Brick and Mortar
- Franchise
- Other

Your business will be run/operated in:
- Home Office/Space
- Coworking Space
- Separate Leased/Rented Space
- On Location (for example mobile car wash, house cleaning, photography, etc.)

If you will be operating your business from home, you have reviewed the Freelance, Independent, and Home-Based Business Readiness Checklist to prepare.

You have established one of the following for business identification:
- Employer Identification Number (EIN)
- Personal Social Security Number (SSN)/Individual Taxpayer Identification Number (ITIN)

You have established a separate bank account for your business (separate from your personal bank account, if possible).

You have obtained the permits and licenses needed for your business at any and all appropriate levels, based upon your business, your location, your industry, and your legal structure such as:
- Business Tax License (also known as Business License)
- Fictitious Business Name/Doing Business As (DBA) Filing/Registration
- City, State, County, Federal Licenses
- Licenses for Home-Based Businesses (including food and care businesses)
- Seller’s Permit/Sales Tax Permit
- Industry-Specific (for example: contractor, electrician, accountant, beauty, daycare, etc.)
- Permissions/Permits/Inspections by the Police or Fire Department

You have assessed your business risks and arranged for insurance coverage where appropriate.

You have determined the amount of funds needed for the business and secured the amount from the following: (select all that apply)
- Equity (money you already have)
  - Personal Savings
  - Friends and Family
  - Partner (if applicable)
- Other Debt (money you will borrow, consider including the interest rate and/or overall cost of the loan and how/when it needs to be repaid)
  - Friends and Family
  - Bank, Community Development Lender (CDFI), Microlender, or Other Loan
  - SBA Loan
  - Credit (from a supplier, landlord, etc.)
  - Credit Card
  - Collateral
  - Other

You have calculated a one-year cash flow projection and the amount necessary to ensure liquidity has been determined and secured.

You have completed our Action Checklist for Accounting and Cash Flow for your business.

Your business will be properly, legally, and economically run with:
- Myself alone owner/creator (work by myself).
- Myself and a partner or partners.
- Hired independent contractors.
- Hired employee(s).

You have established the legal organization/structure (also known as entity) of the business as:
- Sole Proprietor
- Partnership
- Limited Partnership
- Limited Liability Company (LLC)
- Benefit or Social Purpose Corporation
- S-Corp
- Corporation
- Nonprofit

You have put the following communication tools in place to conduct your business: (select all that apply)
- Computer/Laptop/Tablet
- Printer
- Software
- Cell Phone/Smartphone and Carrier Plan (and a telephone landline if needed)
- Email Address (that is connected with your business)
- Mailing Address/P.O. Box
- Video/Web Conference Tool
- Online Collaboration Tools
- Calendar System/Software for Schedules and Appointments
- Other

You have completed the following steps to create your website: (if applicable)
- The domain name has been registered and purchased.
- The hosting provider has been chosen and purchased.
- An SSL certificate for additional security has been purchased (if needed or applicable, especially if business will conduct ecommerce).
- The website has been designed, built, and published by me or by a web developer.
- All term limits, fees, login information has been noted for future reference.

If your business is using an ecommerce strategy to sell products or services to a larger audience online, you have:
- Determined the type of ecommerce model.
- Considered and accounted for all the requirements and fees associated with any payment processing vendor or tools.
- Checked with your State Board of Equalization Office or local government office to determine appropriate sales tax, and understand the rules and regulations for international ecommerce if you plan to sell globally.

You have established the following advertising and promotional channels: (check those that apply)
- Online/Digital (website, ecommerce, crowd-sourced networks, social media, digital advertising)
- Email Marketing/Newsletters
- Direct Mail
- Local Marketing (i.e. chambers of commerce, networking events)
- Trade Shows
- Other

You have created the following marketing materials and collateral: (select all that apply)
- Business Logo
- Social media accounts have been created and names have been secured for these platforms: _______________,____________,_____________, etc.
- Google, Bing, Yelp, etc. business profiles have been created.
- Promotional materials have been designed and purchased/printed: (select all that apply)
  - Signage (if needed for physical location), car magnet, etc.
  - Flyers (if appropriate)
  - Business cards
  - Invoices
  - Uniforms
  - Other

MOBI Spark