You have decided upon your entity type and have done your initial analysis, you are now ready to get started with your business. You have your product or service and can now jump in and get started.
Whether you are full time or part time you will need to know where you are going to be physically while working on your business. Will it be at a booth in “Starbucks”? Or will it be in a dedicate space at home; or will you be looking for only the safe harbor for the home office? Or is the plan to utilize a commercial space?
Where is the financing coming from? Is this a low-cost start-up or an initial money pit, where you need to buy equipment, supplies or goods to sell. Most use savings, HELOCs or credit cards. Others can get loans for start-up cash. Banks want three years before they will think of touching you.
Do you have all of the equipment that you will need? A computer (desktop [yes, some of us still use desktops], laptop or tablet), printer, internet, or any specialized equipment.
Do you need staff? Full or part time? Do you have the reserves to front these costs? I know businesses that have started with more employees that I would have only to have to dig deep to cover or fire them.
Starting up my own business was a risk that was worth it, and the rewards have been many. Others would argue the opposite. I have worked with them as they unwound their businesses, only to plan again.