• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources

WholesaleCentral.com Blog

The Industry's Trusted Source for B2B Retail and Wholesale News

  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
Home » 10 Startup Tips

10 Startup Tips

July 1, 2010 by Publisher

Here are 10 tips that the editors of Cover have gathered at recent business meetings for starting a new business:

  1. Outline your company’s mission statement, goals and define your corporate culture.
  2. Outline your business plan. It is critical to have a detailed business plan for the first 60 days, the first six months and the first 12 months.
  3. Create a three year budget, because your potential equity investors and debt lenders will demand it.
  4. Find an accountant geared to small business to help you select the best business structure for your operation; C corporation, S corporation, LLC or another structure.
  5. Set up a legal entity and register the company name with the state.
  6. File for state and federal tax ID numbers.
  7. Find an attorney geared to small business issues.
  8. Do a company name search to avoid conflicts with existing firms.
  9. Get legal advice on shifting personal assets to protect them in case the business does not thrive as planned.
  10. Carefully plan and implement employees/partners compensation plans. If the plans are too generous up front and you need to cut back on them later, it can be a disaster.

Category: Magazine Archives, Marketing & Management Tags: how to, management

Primary Sidebar

Latest Posts

Using Blockchain to Grow Your Business

Ecommerce

5 Tips to Boost Ecommerce Conversions

Ecommerce

Success Tips for Food & Beverage Wholesale Distribution

Marketing & Management

8 Entrepreneurial Myths Debunked

Retail News

Improve Retail Pop-Up Experiences with Technology

Retail News

Halloween Retail Displays to Boo-st Sales

Retail News

Sign Up for Buyer Updates

WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Editor’s Picks

How to Build the Perfect Marketing Campaign

Editors Picks, Wholesale 101 for Buyers

The Best & Worst Times to Post on Social Media

Editors Picks, Marketing & Management

Best Made in USA Products to Sell in the Summer

Editors Picks, Featured Products, Made in USA, Product News

More Editor's Picks

Follow Us:

© Sumner Communications, Inc.
6 Research Drive, Suite 420 | Shelton, CT 06484