Why it’s Important: Your vision gives your business a direction and your mission defines the purpose. A strong mission and vision statement guide decisions and attract customers who align with your values.

Action Step: Write a one-sentence mission statement that summarizes your business’s purpose and vision for the future.

Why it’s Important: The structure you choose (sole proprietorship, LLC, corporation, etc.) will affect your legal responsibilities, taxes, and personal liability.

Action Step: Consult a legal or financial professional to choose a structure that fits your needs, then register your business with the appropriate state and federal agencies.

Why it’s Important: Today, a professional online presence is essential for credibility and customer engagement.

Action Step: Secure a business domain and build a website. Ensure your brand is present across social media platforms that align with your audience. Consider starting with a basic website and building on it as your business grows.

Why it’s Important: A growth mindset ensures your business stays adaptable and able to scale.

Action Step: Identify areas of potential expansion, such as new products, services, or geographic areas. Set measurable growth goals, such as increasing customer base or revenue over a specific time period.

Why it’s Important: Before you invest too much time or money, ensure that there’s demand for your product or service.

Action Step: Conduct market research through surveys, competitor analysis, or focus groups to validate your idea. Be clear on who your target market is and what problem you’re solving for them.

Why it’s Important: Legal compliance is essential to avoid penalties or shutdowns. Depending on your industry, you may need licenses or permits to operate.

Action Step: Obtain your Employer Identification Number (EIN), business licenses, and any specific permits your business may require, such as health, safety, or zoning permits.

Why it’s Important: Effective marketing drives awareness and sales. It’s important to know how to reach your target market efficiently.

Action Step: Identify key marketing channels (social media, email marketing, search engine optimization, local advertising, etc.) and create a simple content plan to engage your audience.

Why it’s Important: Having mentors, advisors, or a peer group can help you overcome challenges and stay motivated.

Action Step: Join local business groups, attend networking events, and consider hiring a coach or mentor to guide you through difficult phases of your business journey.

Why it’s Important: A well-crafted business plan is your roadmap for success. It outlines your strategy, defines your objectives, and sets financial and operational goals.

Action Step: Draft a basic business plan that includes:

• Executive summary

• Business description

• Market analysis

• Marketing and sales strategy

• Financial projections

• Operational plan

Why it’s Important: Proper financial planning helps avoid cash flow problems and ensures the longevity of your business.

Action Step: Set up a separate business bank account, create a budget for startup costs, and track ongoing expenses. Consider using accounting software for easier management of finances.

Why it’s Important: Good processes streamline operations, helping you focus on growth and customer satisfaction.

Action Step: Create basic workflows for everyday tasks (order fulfillment, customer service, bookkeeping, etc.) and invest in simple, affordable tools like project management software, customer relationship management (CRM), and point of sale (POS) systems.

Why it’s Important: Protecting your business with the right insurance ensures that you are covered from risks that could otherwise destroy your hard work.

Action Step: Research and secure appropriate insurance for your industry, such as general liability, property insurance, or workers' compensation.