1. Develop a concept from industry experience and work history (do what you know).
2. Create a business plan showing who, what, when, where, why, and how (convince yourself that it will work).
3. Use business plan to determine and obtain startup capital (convince others that it will work after you convince yourself, first).
4. Incorporate or form an LLC (liability protection, taxes, image, reduced audit risk).
5. Obtain Employer Identification Number (EIN) (taxes and hiring).
6. Open a business bank account (funnel all transactions through one account).
7. Get required licenses (occupational, specialty).
8. Set up QuickBooks® (cash flow, manage business, taxes).
9. Form a support team consisting of : Attorney - Leases, contracts, employment agreements Banker - Bank account, credit card, financing Certified Public Accountant - QuickBooks, accounting, taxes Insurance professional - Property, liability, workers' compensation Realtor - Brick and mortar location, leases, building Mentor - Someone who has done this before. 10. Implement marketing plan - nobody knows you are there! - everyone has competition (website, target markets, direct mail).