start-up foundation checklist

Obtain necessary licenses and permits

Set up a business bank account

Establish a legal structure (e.g., sole proprietorship, partnership, LLC)

Determine the appropriate insurance coverage

Conduct market research to identify target audience and competition

Define your unique selling proposition (USP)

Develop a business plan outlining goals, strategies, and financial projections

Determine pricing and revenue models

Create a marketing and sales strategy

Secure startup funding (e.g., personal savings, loans, investors)

Create a budget and estimate initial expenses

Setup accounting and bookkeeping systems

Determine pricing and profit margins

Develop a cash flow projection

Secure a physical location (if applicable)

Set up necessary equipment and technology

Establish inventory management systems

Develop standard operating procedures (SOPs)

Hire and train employees (if applicable)

Design a logo and brand identity

Create a professional website and establish an online presence

Develop marketing materials (e.g., business cards, brochures)

Implement a digital marketing strategy (SEO, social media, content marketing)

Establish a customer relationship management (CRM) system

Determine sales channels (e.g., online, physical store, partnerships)

Develop a sales strategy and sales targets

Create a customer acquisition plan

Implement customer retention strategies

Establish customer service protocols

Ensure compliance with local, state, and federal regulations

Implement data protection and privacy policies

Address any legal or regulatory risks specific to your industry

Develop a contingency plan for unforeseen events

Regularly review and update compliance practices

Monitor key performance indicators (KPIs)

Continuously analyze market trends and adapt strategies

Seek opportunities for business growth and expansion

Consider strategic partnerships or collaborations

Develop a long-term vision and growth plan