The Entrepreneur’s Checklist: 13 Essentials for Launching Your Business
The excitement of starting a business can be exhilarating, often leading to a whirlwind of ideas. To help channel that enthusiasm into focused, actionable steps, here’s a comprehensive checklist of 13 essential items every entrepreneur needs to get started on the right foot.
1. Business Registration and Licenses
Before you can legally operate, your business needs official recognition. Forming a Limited Liability Company (LLC) is often preferred for its personal liability protection, safeguarding you from business debts and lawsuits (U.S. Small Business Administration [SBA], n.d.-a). Once your entity is chosen, you'll need to secure the necessary state and local business licenses and permits. These documents are crucial prerequisites for opening bank accounts and other official processes. Services like LegalZoom, Rocket Lawyer, or UpCounsel can streamline this process, offering guidance and assistance with filings.
2. Employer Identification Number (EIN)
An EIN is a federal tax ID, essentially a Social Security number for your business. Most businesses, especially LLCs and corporations, will need one, even if you don't plan to hire employees immediately (Internal Revenue Service [IRS], n.d.). It's free and easy to apply directly through the IRS website.
3. Business Mailing Address
Having a dedicated business mailing address professionalizes your operations. This should be a physical address, not your personal home address or a P.O. Box, for official correspondence and credibility (SCORE, 2023). Options include leasing a physical office, utilizing a co-working space, or purchasing a virtual business address from providers like iPostal1, Anytime Mailbox, or The UPS Store.
4. Business Phone and Fax Numbers
Separate your personal and business communications. A dedicated business phone number, and potentially a fax or a toll-free 1-800 number, enhances your professional image and allows for more organized client interactions. Many services offer robust features like call routing, voicemail-to-email, and extensions. Explore providers such as RingCentral, Nextiva, GoToConnect, Grasshopper, or Zoom Phone.
5. Professional Business Email Address and Contact List Management
A professional email address (e.g., yourname@yourbusiness.com) is vital for credibility. Beyond just an address, setting up an email management system allows you to organize customer, vendor, and client communications efficiently. Consider integrated platforms that include contact list management for future marketing and relationship building.
6. Domain Name
Your domain name is your online identity. It's crucial for branding and establishing your web presence. Before launching, secure a memorable and relevant domain name that aligns with your brand. Websites like GoDaddy, Wix, and Squarespace are popular platforms for searching and purchasing domain names.
7. Professional Logo
A well-designed logo is the visual cornerstone of your brand. While free logo makers (e.g., Squarespace's logo design tool) can provide a starting point, investing in a professional designer often yields a more unique, impactful, and scalable result (Wheeler, 2017). Platforms like 99designs by VistaPrint or freelance marketplaces offer access to skilled designers. Remember, professional design is a deductible business expense.
8. Website and Social Media Accounts
In today's digital landscape, a professional website is non-negotiable for most businesses. It serves as your online storefront, information hub, and marketing platform. While DIY website builders like Squarespace, Wix, and WordPress.com offer user-friendly options, consider hiring a professional web developer for a custom, optimized site, especially as your business grows. Simultaneously, establish a presence on relevant social media platforms where your target audience congregates (Mangold & Faulds, 2009).
9. Merchant Account and Pricing List
To accept payments, you'll need a merchant account or a payment processing solution. Services like Square, Stripe, and PayPal make it easy to accept credit card payments both online and in person, often with simple sign-up processes and transparent fee structures. Alongside this, develop a clear pricing list for your products or services.
10. Accounting and Bookkeeping Service/Software
Unless you have a strong background in accounting, enlisting the services of an accountant or bookkeeper from the outset is highly recommended. They can help set up your chart of accounts, manage payroll, track expenses, and ensure tax compliance (SCORE, 2024). Alternatively, robust accounting software like QuickBooks, FreshBooks, or Zoho Books can automate many bookkeeping tasks, though professional oversight is still valuable.
11. Business Consultant or Mentor
A business consultant or mentor can serve as your strategic partner, offering invaluable guidance, insights, and a sounding board for ideas. They can help you navigate challenges, refine your strategies, and accelerate your growth. Look for experienced professionals in your industry or business stage.
12. Business Bank Account
Once you've identified your initial startup costs and secured funding, opening a dedicated business bank account is crucial. It separates personal and business finances, simplifying accounting and tax preparation (SBA, n.d.-b). Many banks and fintech companies offer business accounts with low or no minimums, tailored for freelancers and small businesses, such as Lili, Bluevine, Grasshopper, Mercury, and Found. You will typically need your business registration documents and EIN to open these accounts.
13. Establishing Business Credit
Building business credit is a strategic move that can significantly benefit your company's future access to financing and better terms from suppliers. It's a distinct credit profile from your personal credit. To begin establishing business credit, you generally need:
A formally registered business entity (e.g., LLC, Corporation).
Your EIN.
A physical business address.
A UEI (Unique Entity Identifier), which replaces the DUNS number for federal government-related purposes and is often used by commercial credit bureaus (General Services Administration [GSA], n.d.).
Dedicated business phone and fax numbers, ideally with a 411 listing.
A professional business email address.
An operational business website.
Demonstrable revenue and typically at least two to three years in business to qualify for many traditional business loans.
By systematically addressing these 13 essentials, you’ll lay a solid foundation for your new business, moving beyond initial enthusiasm to strategic, sustainable growth.
References
General Services Administration. (n.d.). Unique Entity Identifier (UEI). Retrieved August 17, 2025, from https://www.gsa.gov/about-us/organization/federal-acquisition-service/vsc/unique-entity-identifier-uei
Internal Revenue Service. (n.d.). Apply for an Employer Identification Number (EIN) Online. Retrieved August 17, 2025, from https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online
Mangold, W. C., & Faulds, D. J. (2009). Social media: The new hybrid element of the promotion mix. Business Horizons, 52(4), 357-365.
SCORE. (2023). Setting Up Your Business: The First Steps. Retrieved August 17, 2025, from https://www.score.org/resource/setting-your-business-first-steps
SCORE. (2024). The Small Business Owner's Guide to Bookkeeping. Retrieved August 17, 2025, from https://www.score.org/resource/small-business-owners-guide-bookkeeping
U.S. Small Business Administration. (n.d.-a). Choose your business structure. Retrieved August 17, 2025, from https://www.sba.gov/business-guide/plan-your-business/choose-your-business-structure
U.S. Small Business Administration. (n.d.-b). Open a business bank account. Retrieved August 17, 2025, from https://www.sba.gov/business-guide/plan-your-business/open-business-bank-account
Wheeler, A. (2017). Designing Brand Identity: An Essential Guide for the Whole Branding Team (5th ed.). Wiley.
