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Megan & Linda Baumann
Getting Started with a New or Current Business
Simple, Effective and Affordable Marketing Support
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Business Plan
Writing a business plan is your most important step and how you and others will measure your business
success. A key element within the business plan is the marketing plan, which explains marketing strategies
that will be used to advertise and promote the products or services. The goal setting steps of the plan will
help you to analyze the success of the business in future years and clearly illustrate the capital needed to
operate the company to break-even.
Financing
With your business plan in hand, you are ready to go find yourself some capital. Most small businesses have
three options for financing: friends & family, investors or bank loans. Each of these options has different
considerations for the business.
Getting Started
You've got the plan, the money and the enthusiasm; you're ready, right? Not yet, as with everything you
need to take the legal issues into consideration. First you should choose a legal structure: Sole
Proprietorship, Partnership, or Corporation. Your financing decisions will have an effect on what legal
structure you choose. Now you can file with the state to incorporate and obtain a federal Identification
number. Now that your business is through the start-up phase, you can now look forward to the issues of
managing and marketing your business.