Information Central

The Seed Stage

By: Dr.Sherrie Koechling

The seed stage is when you have an idea, a drive to start your own business, but you are now sure how to get going. This article is far from a conclusive list of things to do to begin the journey of becoming an entrepreneur but will give you a start. The business name is very important. It should give insight into your purpose, so put some time into developing a name for the business. You must register the business name if it is something other than your name. This is usually done at your Secretary of State’s office. Although business plan may be tedious they are the blue prints of your business. The more thought put into the business plan the more confident you will be that this is the business you want to dedicate your life. A business will be all encompassing for the first three years; you will eat, sleep and breathe the business so make sure it’s what you want to do. The business plan will assist in developing a strategy. It can become a step by step process to business ownership. If your business is going to be a brick and mortar business and not a virtual business, location becomes the next very important step to consider. The location must match the demographics of your customers; it must have easy access, and be easily seen. Inexpensive rent should not be the major consideration. However, rent, taxes and percentage of sales requirements are very essential conditions to success. Check with your local, state and federal government on registration and licensing requirements and tax information. Get help and training. We can assist you in many of these areas. There are also, the Department of Economic Development, Small Business Administration and SCORE that are services available for new start-up. Good Luck!

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