Who is the ideal Entrepreneur?
There are no limits on who can become a great entrepreneur. You don’t necessarily need a college degree, a bunch of money in the bank or even business experience to start something that could become the next major success. However, you do need a strong plan and the drive to see it through.
What type of business should you Start?
First order of business is to understand why you want to start a business. Once you have a reason then it will lead you on the path of self discovery and self fulfillment. If its more personal time, then use that as a guide to help you decide what type of business you should start.
In determining what type of business you should start you should make sure that you have what it will take to succeed.
- What is your long lost passion?
- What skills to you have?
- What are you know to be a expert in?
- How much investment capital is needed?
- What lifestyle do you desire?
- Finally, are you seriously ready to be an entrepreneur?
Be honest with yourself and it will create a path for the life you desire to live going forward.
The checklist below provides the basic steps you should follow to start a business.
This list should not be construed as all-inclusive. Other steps may be appropriate for your specific type of business.
Information about specific industries can be found at the Industries/Professions Web page.
Each state has additional requirements for starting and operating a business. For information regarding state-level requirements for starting a business, please refer to your state’s website.
Refer also to the Small Business Administration’s 10 Steps to start your business.
- Apply for an Employer Identification Number (EIN) if applicable
- Select a business structure
- Choose a tax year
- If you have employees have them fill out Form I-9 (PDF) and Form W-4
- Pay your business taxes
https://www.irs.gov/businesses/small-businesses-self-employed
