When starting a business of what ever kind, large or small, there is a always a require framework or scaffolding that you have to set up. Not only does this make your business much more effective, but it also saves you from a lot of embarrassing and costly problems. Here is your framework:

1. Business Name. Choose an appropriate name that sums up what your business stands for. It has to be unique try and ensure that a suitable domain name is also available as you will probably want a web site as well. The owner of an established web site might cause problems if you give your brick based business the same name so be careful in your choice.

2. Your Business Entity. Obtain professional advice as whether to the best way to set up your business as a limited company, partnership etc. Then register your company.

3. Patents and Trademarks. If you have unique products then you need to ensure that you have registered your patents before your start trading. Similarly any product names, mottos, selling tags etc should be trademarked. Take professional advice on how to do this..

4. Licenses and Permits. Ensure that you have all the licenses and permits that you are legally required to have.

5. Insurance. You may think that you dont need this but you do and will. So take out property, business, vehicle liability, staff and disaster insurance. A good broker can advise you.

6. Taxes. A necessary evil I am afraid. Register with your local tax collector. Set up a good accounting system and hire a good accountant.

7. Employment Laws. Establish what you local employment laws are and ensure that you adhere to them. Set up employee guidelines and handbooks. Make sure you hire and fire legally.

8. Banking. Visit your local banks and find the best business bank account and credit card for you business. Always keep your business and personal spending separate.

9. Business Plan. This is your carefully written plan on how you want your company to operate, what you want to sell, where and to whom. It includes your business and marketing strategy as well as your financial standing and projections. This is the foundation of your business.

10. Liquid Cash. Ensure that you have enough money to carry your through the first few months of your business as well as any foreseeable troublesome times ahead.

When you start up your business, remember to tick off the 10 items above and you will have a very sound start to your business.

Lee Lister

Lee Lister is Management Consultant and Program Manager with more than 25 year's management and consultancy experience and more than 20 year's program and project management experience in projects for Banking, Finance, Insurance, Leisure and Government bodies. She also have more than 10 years bid management experience ranging from bids for medium companies to large international and infrastructure bids.

British born, Lee received her BA(Hons) Financial Economics from the University of Essex. She went on to work in or for a considerable number of countries within Asia and Europe as well as Australia and the United States. While building a name for herself through helping company restructure, change management and project management consultancy, Lee became a well-known figure for her skills in analyzing, problem solving and trouble-shooting. She has consulted for many major industries, including banking, telecommunications, insurance, transportation, leisure and governments from many different countries. Some of the companies who have benefited from Lee’s expertise are Hewlett Packard, Siemans Nixdorf, Electrolux and the Philippines government.

Whilst working in the Far East she became a recognized expert on preparing and evaluating large World Bank Proposals (infrastructure projects within developing countries). These accomplishments called upon the skills of bid and project management, risk assessment, contract negotiation and supplier management and required dedicated work to very tight time scales. This expertise was acknowledged by an invitation to be the principle speaker at an International Business Development Conference in Washington, USA. She has also consulted at very senior level in several countries.

She owns and manages two companies, Biz Guru LLC in the USA and Biz Guru Services Ltd in the UK as well a considerable number of profitable web sites. She works almost entirely via the internet, visiting clients on site during major consultancies and training. Her Internet skills span from when major companies first started to consider obtaining their own web sites. During these years, she has kept up to date with the rapid changes on the internet, including the dot com boom and the resulting bust – which her own web based companies survived.

She regularly consults, writes and lectures on business, bid management and marketing and has published numerous courses and books.