Starting your own business checklist

When you make the choice to start up a business you begin to read and study everything you can find about starting a home based business, work from home opportunities, home based business and that's part of doing your homework. You think about all the reasons why you want to start your own business.

The first thing you should do is to make a list of those reasons:

You want to be your own boss

You want to work from home

You are unhappy with your current job

You need to be able to schedule your own hours

You want to take charge of your own financial future

To determine what type of business is a "good fit" for you. Ask yourself these questions:

What special skills do I have that I can apply?

Do I have any hobbies or interests that are marketable?

What do I believe I could enjoy doing that others are willing to pay for?

What products or services could I provide based on my skills and experience?

Draw up a pre-business checklist asking yourself these questions:

What type of business would I most be interested in starting?

Can I market this product or service?

Do I want to be home-based or do I want a storefront?

Do I believe that my skills are enough to make a go of it?

Will I need additional training?

After you identify your niche, do some research to answer these questions:

Is my idea practical and will it fill an existing need?

What would be my business advantage over my competition?

In what way will I be able to deliver a better quality product or service?

After you have narrowed it down, make a list of your answers to the questions below:

What will I name my business?

What will be my legal structure?

What equipment or supplies will I need?

What insurance coverage will be needed?

What are my current resources?

How much financing will I need?

Your answers will help you get started on the homework you need to do so that you can lay out a "blueprint" for your business!