The Gathering Phase: Document Preparation & Filing.
SBA Step 1: Write a Business Plan
SBA Step 3: Choose a Business Location
SBA Step 5: Determine the Legal Structure of Your Business
SBA Step 6: Register a Business Name (“Doing Business As”)
SBA Step 7: Register for State and Local Taxes
(Note: Half of these outdated steps can now be done early in the 1st phase to determine if it’s even necessary before further investment!)
The Optimization Phase: Learning Key Skills, Training & Hiring.
SBA Step 2: Get Business Assistance and Training
SBA Step 9: Understand Employer Responsibilities
(Note: You’ve done your homework in the 1st phase so you’ll actually know what help & training to focus on; as well as what work can be outsourced inexpensively!)
The Implementation Phase: Running Sales & Exposure Campaigns.
SBA Step 8: Obtain Business Licenses and Permits
(Note: Since most were done in phase 1, the focus will be the obtaining of licensing & permits specific to operating & selling in your field, market, &/or location. And considering annual fees, you’ll maximize the time-value by getting these licenses & permits when you’re truly prepared to use them!)
The Networking Phase: Creating Strategic Alliances.
SBA Step 10: Find Local Assistance
(Note: When you already have traction, more people will want to work with you!)
The Growth Phase: Acquiring Funding.
SBA Step 4: Finance Your Business
(Note: Acquiring funding is usually the last phase for most non-tech entrepreneurs. But this process is now easier because you’ll have the right paperwork, the right training, marketing exposure, sales traction, & the right connections to make yourself 5 times more qualified for funding than ever before!)