Starting A Business 101: Steps 7-9

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Welcome to the second official post on the mini series Starting A Business 101. Here we will be discussing steps seven through nine that it takes to start a business. If you missed the first three steps, or steps four through six, head on over to catch up!

Step 7: Determining and Setting Up Your Location
Here is where is figure out if you can run your business from a home office or if you need to rent space from a commercial building. Also make sure to write a list of all the equipment you need to purchase in order to get things up and running.

Step 8: Acquire Business Insurance
As a business owner, it is your responsibility to mange the risks that are associated with your business. Some will need more insurance than others, especially if you are dealing with something related to food, animals or selling certain products. This will help protect your business in the event of a disaster or litigation.

Step 9: Create or Find an Accounting System
Making sure you are aware of the financial side of your business is crucial to its success or failure. Whether you hire an accountant or are a numbers person, this is a step that cannot and should not be forgotten.

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