Organizing Your Business

The organization of your business is the very first thing you do after deciding to open up a business. You have to decide what exact business you are entering. It’s not enough just to say “I’m getting into the computer business.” Are you going to sell computers? Are you going to repair computers? Are you going to write computer programs?  Decide EXACTLY what your business will do.

Now comes an interesting part. What are you going to name the business?  Here are some of the possibilities?

1. Name it after yourself.
2. Name it after somebody you admire.
3. Include the type of business you’re entering in the name.
4. Pick a name just because it sounds good.
5. All of the above

You can name it almost anything you want. Just make sure it’s not an offensive name and it doesn’t encroach on another company’s trademark.

What are going to be your business hours? Of course, only you can answer that because only you know your schedule. But, there is another very, very important consideration when it comes to work hours — the shopping and purchasing hours of your CUSTOMERS. Don’t forget that or they might forget you!

Where will your business be located? Many now-famous companies were started in someone’s garage, spare bedroom, or basement. As you write this section of the business plan, you will make dozens of decisions about the physical set-up of your company, the equipment you’ll need, and even your business hours. Stop for a minute and try to visualize the physical arrangement of your business location.

In the list below, check the items you will need.

Physical address to receive mail
Computer and Internet access
Desk and office chair 
Phone/cell phone
Water and/or electricity
Water and/or electricity
Work table(s)
Special tools or equipment 
Storage space 
Shelves for displays  

(After you've made your checklist, print this page for future reference. Write in more items as you think of them. )

ALL of this important information needs to be included in your business plan to organize your business well. It will ensure that you get off to a good start.

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