1. Consumer Validation

• Market Research
• Customer Interactions/Interviews
• Validate problem/solution

2. Product Prototying (If product based)

• Find a prototyping facility near you.

• Discover and connect with manufacturers in your area.

3. Secure Intellectual Property Rights (if protectable)

• Are you looking to obtain Intellectual Property Rights (Patent, trademark, copyright, etc.)? Meet with the Innovation Guidance and Solutions team at Dixie State University

• Find local Patent Attorney

4. Write a Business Plan

• Describe your business
• Determine the organization of your business
  • Will the business be home based or in commercial location?
• Identify your target market
• Develop your product/service line
• Identify Startup costs
  • https://foundr.com/how-long-does-it-take-to-become-an-entrepreneur

Meet with us to help you put together a strong business plan!

5. Develop Marketing Plan/Strategy and Develop Business Identity

• Create Vision and Mission Statements
• Find a Marketing agency near you that can help you develop your brand

6. Finance Your Business

• Identify start up costs and needs
• Discover and explore funding sources
• Find Bank/Traditional Funding Opportunities here

7. Select Business Name and Legal Structure

• Sole Propietorship
• General Partnership
• Limited Liability Partnership
• Limited Liability Company (LLC)
• C-Corporation & S-Corporation
• Non-profit
• B-Corporation

Business Structure articles:

https://www.irs.gov/businesses/small-businesses-self-employed/business-structures

https://seacoast.score.org/resource/types-business-entities

Unsure which structure is best for you? Find an accountant or legal firm near you that can advise on which structure is the best fit for you and your goals.

8. Register Business Entity with Utah Division of Corporations:

• Find an accountant or legal firm near you that can help establish your business entity.

• Already know you want to set up an LLC? Schedule a consultation with one of our BRC advisors now to set up your LLC.

9. Obtain Federal Employer Identification Number (EIN)

10. Reserve Website URL/Assets and Social Media Accounts

• Find a marketing agency near you that can help you create a website
• Have your agency help you set up social media accounts.

11. Apply for Appropriate Business License

• Find the appropriate business license for your business.

12. Establish Business Bank Account and Payment Collection Options

• Find business banking options near you here.

13. Acquire General Liability Insurance (and other required insurance) For Your Business

• Find local insurance providers.

14. Set up Accounting and Record Keeping Systems

• Find a local CPA near you.

15. Hire and Train Employees (if needed)

• Sales
• Customer Service
• Product Development

16. Network with Local Business Community!

• Find your local Chamber of Commerce.

17. Connect With Your Regional Business Resource Center and Meet With One of Our Experienced Business Advisors/Mentors That Can Help You Through the Entire Process for FREE!