Congratulations! What an adventure – here are some tips that may help get you started and focused!
- Define your vision – this is your business, make it personal and make it shine!
- Research your market opportunity – there are many community supports that can assist you with this, reach out and they can help guide you and find the information you need.
- Write a business plan- you can find excellent templates online
- Understand your startup costs, and plan your finances
- Determine your business structure (incorporated/partnership/sole proprietor)
- What are your legal and insurance requirements
- Create and register a business name, apply for the necessary permits and licenses and set up your HST/Payroll accounts
- Open a business bank account
- Set up your accounting Systems – there are a lot of choices, find one you are comfortable with and has the potential to grow with you and your business
- Build a basic web presence
- Build business partnerships- these are great networking tools, and a good partnership can also be an excellent opportunity for a mentoring relationship.
It seems overwhelming, but just work the process step by step. It’s a time to explore your creativity and build something awesome!