Some Tips Before You Start

Here are few basic tips to keep in mind even before you start thinking of your plan. These tips are especially useful if you're looking to fund your business plan.

• It pays to take a class or two on running a business while reading up on business plans (try Que's book Write a Business Plan In No Time). You should have a general knowledge of the different aspects of a business before you sit down to start your plan. There are many fine courses offered by your local community college, seminars by non-profit organizations, and small business programs offered by the government. Take advantage of these and spend a little time learning the ins and outs of running a business.

• Open a separate business checking account with the name of your business on the checks. Ask your bank about getting a credit card merchant account so you can accept credit cards at your new business. You may be required to provide a deposit to get a merchant account. This is normal for a new business without a track record. So make sure you have the cash for this.