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email:WSBDC@uwyo.edu

Small Business Startup Checklist

 

This checklist provides basic information to start a small business in Wyoming.  While the list covers many of the major steps required, there may be others.  Anyone who has decided to start a new business or expand an existing one, should first meet with a Small Business Development Center consultant.

 

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Download the full  Start a Business Checklist

 

4 Steps to Start a Business in Wyoming

 

  1. Concept
  2. Feasibility
  3. Development
  4. Launch

 

1. Concept

This is usually the most fun and easiest part!  Your concept is why you’re thinking about starting a business!  It’s your idea that gets you jazzed about moving forward.  Write a paragraph or two describing your product or service idea.  If you are going to manufacture something, your concept may need a prototype.  Do not buy a business license, rent a location, purchase inventory or file a business structure until you have completed Step 2: Feasibility.

   

2. Feasibility

This is the stage often ignored by new entrepreneurs, and even seasoned ones.  It is time consuming and sometimes difficult, but truly necessary to investigate your idea.  Positive comments from people you know can make you feel good inside, but are not objective enough to test your idea.  Let us help you through this by providing education on how to proceed. 

 

3. Development

Development is where you start to really spend money on expenses other than market research and prototypes.  In this stage you start with an accounting system, get licensed properly, ready to pay taxes, hire employees, purchase equipment and inventory, purchase a point-of-sale system or cash register, launch a website, and so forth.

 

4. Launch

This is where you start selling and move into management, managing purchasing, marketing, accounting, etc.  This stage also requires that you continually assess your product/service sales and your customers.  Customer assessment should never end.

 

Download the full  Start a Business Checklist

 

 

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