Before you begin your business...

Knowledge
Have the knowledge pertaining to the business you plan to enter.

Experience
Have experience in managing people and finance.

Research
Do your homework. Time spent planning is time well spent.

Business plan
This is essential! If you fail to plan, you plan to fail. Your plans should include:

• What - Describe your product or service.

• Why - Describe the unanswered need.

• Who - Describe your customer.

• Who - Describe your competitor.

• Where - Describe your ideal location.

Marketing plan
Know how you will reach your customers. Determine why they will buy from you.

Financing
Explain how you plan to finance the business. Describe sources and use of funds.

Select your business structure
Determine if you will be a sole proprietor, partnership, corporation, or other entity. Do your research. This is both a legal and tax issue.

Check licensing requirements
Many occupations and business operations require special licenses, permits, or certifications from state agencies or boards.

Importance of Small Business
Start-up firms and expanding small businesses are two of the most important resources of jobs and career opportunities for Californians. Whether you are in a start-up phase or expanding, there are web sites designed to help you succeed.