Following your dream of owning your own business isn’t easy; it takes time, but it is worth the effort! These 10 steps will help you get started.
- Complete the Business Readiness Tool and submit your idea.
- Register to access Initiate Prosperity: Powered By Southwest Initiative Foundation. This on-line resource has numerous tools covering business start-up, money, marketing, and management.
- Contact the Small Business Development Center and begin working on your business plan and cashflow projections.
- Identify your target market/customers and begin working on a marketing plan. For tips, check out this resource from the U.S. Small Business Administration.
- Know your financial health and determine your financial needs; you can check your credit score for free from Equifax, Experian, and TransUnion.
- Determine your legal business structure and check business name availability.
- Connect with LegalCORPS for a FREE 30 minute consultation.
- Visit the Minnesota Secretary of State office to find out more about state resources and requirements for small business owners. Be sure to register your business! For information on the federal level, check out the “Starting a Business” page by the IRS.
- Explore the city and county resources where your business will be located.
- Finish your business plan, cash-flow projections and marketing plan. Set up a meeting with your local lender to discuss your dreams!
If you have questions about our business development programs and how we can help you with your project, contact Jackie Turner, Economic Development Officer, at [email protected] or 320-583-2180.
