Starting Your Own Business Checklist

By Barrett Baker

Zack Miller, Founder of Hatch in Norfolk, shares a checklist for anyone preparing to start a business.

• Do you love your concept or business idea, think about it all the time, can’t live without it?
• If you have a partner, are you ready to marry them?
• Do you have access to enough capital to live the lifestyle you want for the next year without making money?
• Have you cancelled your Netflix account yet?
• Have you talked with at least 10 of your prime customers to see if they would want to buy your product or service? Did you sell it to them?
• Are you really solving a problem?
• Why are you starting a business? (If it’s to get rich, you may want to rethink it.)
• Have you considered tax codes to understand how much money you will lose off the top?
• Are you willing to Uber to make ends meet?
• Do you have a group of entrepreneurs you can lean on? I have one for you. It’s called 1000 Four.
• Are you OK with no one understanding what you do for a living?
• Can you handle the fact that even when you are “off the clock” you are always on?
• Are you prepared for your every two-week paycheck to change?
• Do you understand that managing employees will become your new priority if you don’t hire someone to handle it for you?
  

Hatch is dedicated to empowering entrepreneurs from every background, in every industry and in every business stage. Learn more about the services they offer on StartWithHatch.com.

For more advice, read our 10 Things To Consider Before Starting A Business.