{"id":3001,"date":"2023-02-19T16:11:16","date_gmt":"2023-02-19T16:11:16","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/reading-ten-steps-to-starting-a-business\/"},"modified":"2025-05-22T15:05:16","modified_gmt":"2025-05-22T15:05:16","slug":"reading-ten-steps-to-starting-a-business","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/reading-ten-steps-to-starting-a-business\/","title":{"raw":"Learn It 8.4.1: How to Start a Business","rendered":"Learn It 8.4.1: How to Start a Business"},"content":{"raw":"<section class=\"textbox learningGoals\">\r\n<ul>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;List the steps to follow for starting a business&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">List the steps to follow for starting a business<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the steps necessary for starting a business&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the steps necessary for starting a business<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;List the components of a business plan&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14721,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">List the components of a business plan<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand each component of a business plan&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand each component of a business plan<\/span><\/li>\r\n<\/ul>\r\n<\/section>\r\n<h2>10 Step Plan<\/h2>\r\n\r\n[caption id=\"attachment_8709\" align=\"alignright\" width=\"293\"]<img class=\"wp-image-8709\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/143\/2016\/11\/18182025\/15461399740_d5516fb8ec_k.jpg\" alt=\"Two women putting Post-it notes on a whiteboard.\" width=\"293\" height=\"220\" \/> Figure 1. The SBA suggests planning in 10 steps.[\/caption]\r\n\r\n<p>The Small Business Association's (SBA)\u00a0<a href=\"https:\/\/www.sba.gov\/business-guide\/10-steps-start-your-business\/\" target=\"_blank\" rel=\"noopener\">10 Step Guide to Starting a Small Business<\/a> includes the following action items, with links to the associated detail page.<\/p>\r\n<ol>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/plan-your-business\/market-research-competitive-analysis\" target=\"_blank\" rel=\"noopener\">Conduct market research<\/a><\/li>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/plan-your-business\/write-your-business-plan\" target=\"_blank\" rel=\"noopener\">Write your business plan<\/a><\/li>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/plan-your-business\/fund-your-business\" target=\"_blank\" rel=\"noopener\">Fund your business<\/a><\/li>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/pick-your-business-location\" target=\"_blank\" rel=\"noopener\">Pick your business location<\/a><\/li>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/choose-business-structure\" target=\"_blank\" rel=\"noopener\">Choose a business structure<\/a><\/li>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/choose-your-business-name\" target=\"_blank\" rel=\"noopener\">Choose your business name<\/a><\/li>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/register-your-business\" target=\"_blank\" rel=\"noopener\">Register your business<\/a><\/li>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/get-federal-and-state-tax-id-numbers\" target=\"_blank\" rel=\"noopener\">Obtain federal and state tax IDs<\/a><\/li>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/apply-licenses-and-permits\" target=\"_blank\" rel=\"noopener\">Apply for state licenses and permits<\/a><\/li>\r\n\t<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/open-business-bank-account\" target=\"_blank\" rel=\"noopener\">Open a business bank account<\/a><\/li>\r\n<\/ol>\r\n<p>The <a href=\"https:\/\/www.irs.gov\/businesses\/small-businesses-self-employed\">IRS website contains a section for small businesses<\/a> and is the source of federal action items, including requesting employer IDs and accessing tax forms and publications. For state-specific guidelines, you can use the IRS\u2019 <a href=\"https:\/\/www.irs.gov\/businesses\/small-businesses-self-employed\/state-government-websites\" target=\"_blank\" rel=\"noopener\">State Government Websites<\/a> page as a jumping-off point. Your city or county may have additional requirements; refer to the relevant site for any permit or licensing requirements.<\/p>\r\n<p>The nonprofit small business education and mentoring organization SCORE is another source of start-up information including a <a href=\"https:\/\/www.score.org\/getstarted?gclid=EAIaIQobChMImMyS2e6Q3gIVHYGzCh28MQgvEAAYASAAEgJ9lPD_BwE\" target=\"_blank\" rel=\"noopener\">Simple Steps for Starting Your Business<\/a> workbook, online course, and additional resources and webinars. <a href=\"https:\/\/www.score.org\/\" target=\"_blank\" rel=\"noopener\">Visit SCORE's website<\/a> if you want to learn more. Finally, your city or county may have an economic development program that provides business planning expertise, relevant economic data, and access to funding.<\/p>\r\n<section class=\"textbox tryIt\">[ohm2_question height=\"200\"]4475[\/ohm2_question]<\/section>","rendered":"<section class=\"textbox learningGoals\">\n<ul>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;List the steps to follow for starting a business&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">List the steps to follow for starting a business<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the steps necessary for starting a business&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the steps necessary for starting a business<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;List the components of a business plan&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14721,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">List the components of a business plan<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand each component of a business plan&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand each component of a business plan<\/span><\/li>\n<\/ul>\n<\/section>\n<h2>10 Step Plan<\/h2>\n<figure id=\"attachment_8709\" aria-describedby=\"caption-attachment-8709\" style=\"width: 293px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-8709\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/143\/2016\/11\/18182025\/15461399740_d5516fb8ec_k.jpg\" alt=\"Two women putting Post-it notes on a whiteboard.\" width=\"293\" height=\"220\" \/><figcaption id=\"caption-attachment-8709\" class=\"wp-caption-text\">Figure 1. The SBA suggests planning in 10 steps.<\/figcaption><\/figure>\n<p>The Small Business Association&#8217;s (SBA)\u00a0<a href=\"https:\/\/www.sba.gov\/business-guide\/10-steps-start-your-business\/\" target=\"_blank\" rel=\"noopener\">10 Step Guide to Starting a Small Business<\/a> includes the following action items, with links to the associated detail page.<\/p>\n<ol>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/plan-your-business\/market-research-competitive-analysis\" target=\"_blank\" rel=\"noopener\">Conduct market research<\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/plan-your-business\/write-your-business-plan\" target=\"_blank\" rel=\"noopener\">Write your business plan<\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/plan-your-business\/fund-your-business\" target=\"_blank\" rel=\"noopener\">Fund your business<\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/pick-your-business-location\" target=\"_blank\" rel=\"noopener\">Pick your business location<\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/choose-business-structure\" target=\"_blank\" rel=\"noopener\">Choose a business structure<\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/choose-your-business-name\" target=\"_blank\" rel=\"noopener\">Choose your business name<\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/register-your-business\" target=\"_blank\" rel=\"noopener\">Register your business<\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/get-federal-and-state-tax-id-numbers\" target=\"_blank\" rel=\"noopener\">Obtain federal and state tax IDs<\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/apply-licenses-and-permits\" target=\"_blank\" rel=\"noopener\">Apply for state licenses and permits<\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.sba.gov\/business-guide\/launch-your-business\/open-business-bank-account\" target=\"_blank\" rel=\"noopener\">Open a business bank account<\/a><\/li>\n<\/ol>\n<p>The <a href=\"https:\/\/www.irs.gov\/businesses\/small-businesses-self-employed\">IRS website contains a section for small businesses<\/a> and is the source of federal action items, including requesting employer IDs and accessing tax forms and publications. For state-specific guidelines, you can use the IRS\u2019 <a href=\"https:\/\/www.irs.gov\/businesses\/small-businesses-self-employed\/state-government-websites\" target=\"_blank\" rel=\"noopener\">State Government Websites<\/a> page as a jumping-off point. Your city or county may have additional requirements; refer to the relevant site for any permit or licensing requirements.<\/p>\n<p>The nonprofit small business education and mentoring organization SCORE is another source of start-up information including a <a href=\"https:\/\/www.score.org\/getstarted?gclid=EAIaIQobChMImMyS2e6Q3gIVHYGzCh28MQgvEAAYASAAEgJ9lPD_BwE\" target=\"_blank\" rel=\"noopener\">Simple Steps for Starting Your Business<\/a> workbook, online course, and additional resources and webinars. <a href=\"https:\/\/www.score.org\/\" target=\"_blank\" rel=\"noopener\">Visit SCORE&#8217;s website<\/a> if you want to learn more. Finally, your city or county may have an economic development program that provides business planning expertise, relevant economic data, and access to funding.<\/p>\n<section class=\"textbox tryIt\"><iframe loading=\"lazy\" id=\"ohm4475\" class=\"resizable\" src=\"https:\/\/ohm.one.lumenlearning.com\/multiembedq.php?id=4475&theme=lumen&iframe_resize_id=ohm4475&source=tnh&show_question_numbers\" width=\"100%\" height=\"200\"><\/iframe><\/section>\n","protected":false},"author":21,"menu_order":19,"template":"","meta":{"_candela_citation":"[{\"type\":\"pd\",\"description\":\"Ten Steps to Starting a Business\",\"author\":\"\",\"organization\":\"U.S. Small Business Association\",\"url\":\"https:\/\/www.sba.gov\/content\/follow-these-steps-starting-business\",\"project\":\"\",\"license\":\"pd\",\"license_terms\":\"\"},{\"type\":\"original\",\"description\":\"Ten Steps to Starting a Business\",\"author\":\"Nina Burokas\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Strategic Planning Workshop\",\"author\":\"Samuel Mann\",\"organization\":\"\",\"url\":\"https:\/\/www.flickr.com\/photos\/21218849@N03\/15461399740\/\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":2981,"module-header":"learn_it","content_attributions":[{"type":"pd","description":"Ten Steps to Starting a Business","author":"","organization":"U.S. Small Business Association","url":"https:\/\/www.sba.gov\/content\/follow-these-steps-starting-business","project":"","license":"pd","license_terms":""},{"type":"original","description":"Ten Steps to Starting a Business","author":"Nina Burokas","organization":"Lumen Learning","url":"","project":"","license":"cc-by","license_terms":""},{"type":"cc","description":"Strategic Planning Workshop","author":"Samuel Mann","organization":"","url":"https:\/\/www.flickr.com\/photos\/21218849@N03\/15461399740\/","project":"","license":"cc-by","license_terms":""}],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"","media_targets":[]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3001"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/users\/21"}],"version-history":[{"count":9,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3001\/revisions"}],"predecessor-version":[{"id":9505,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3001\/revisions\/9505"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/2981"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3001\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/media?parent=3001"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=3001"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=3001"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/license?post=3001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}