Putting Together Your New Business

Thinking about starting a new business? The Lewis County Chamber is here to help you solve the puzzle of getting your venture off the ground.

Welcome to the Chamber's New Business Checklist.

This resource is here to guide you through the sometimes puzzling steps you need to take to launch a successful business.

Write a business plan

Determine your costs

Register your business

Open accounts

Set up an accounting system

Create a management system

Develop a marketing plan

Set up your facility

Develop Your Business Plan

Here are some of the basic elements you need to consider when writing a business plan:

☑ Executive Summary - a concise overview that highlights the most essential elements of your project plan

☑ Business Description - a more in depth description of the business and its purpose

What do you do/create?
What is your vision?
What separates your from competitors?

☑ Market Research & Competitor Analysis

What is the market demand?
Who is your target customer?

☑ Conduct a SWOT Analysis - identify Strengths, Weaknesses, Opportunities, and Threats

☑ Financial Projections - anticipated revenue, expense, and cash flow

☑ Goals, Objectives, & KPIs

What are you trying to achieve?
Which metrics will determine success?

Additional Resources

US Small Business Administration

SCORE

Estimate Your Up-Front Expenses

Consider:

☑ Create a Startup Budget

One-time startup costs
Overhead costs (rent, utilities, etc.)
Labor costs

☑ Research Available Grants

Speaking of Labor Costs, Ask:

Will you start and run your business by yourself, or will you need to hire employees? Your answer will help guide how you register your business in the next step.

Additional Resources

US Small Business Administration

Register Your Business

☑ Choose a Business Structure - may impact tax rates, personal liability, and more

Sole Proprietorship
LLC
Partnership
S-Corp/C-Corp

☑ Choose a business name

☑ Create an online presence

Claim a domain name
Claim social media handles

☑ Register Your Business

Check state and local requirements. For instance, if you sell and provide services to multiple locations, you may need to register for a business license in each of those places.
Register any trademarks
Register with IRS for a EIN
Once you have an EIN, complete registration process with the WV Secretary of the State
If incorporated inside Weston city limits or Jane Lew town limits, contact their respective city halls to register for a business license.

Additional Resources

US Small Business Administration

West Virginia Secretary of State

West Virginia One Stop Business Portal

City of Weston

Business License Form

Open Business Accounts & Apply For Permits

☑ Open a Dedicated Business Banking Account

☑ Get Licenses and Permits

☑ Apply for Industry-Specific Permits and OSHA Certifications

☑ Apply for Any Necessary Building Permits

Additional Resources

US Small Business Administration

West Virginia Secretary of State

West Virginia One Stop Business Portal

Lewis County Chamber Member Assistance

City of Weston

Forms & Permits

Set Up Your Accounting System

☑ Purchase Accounting Software Subscriptions

☑ Estimate Your Tax Liability

☑ Set Up Essential Bookkeeping Documents

Profit & Loss Statement
Balance Sheet
Cash Flow Statement
Bills & Invoices
Expense Tracking

OR

☑ Hire a Bookkeeper and/or Accountant

Additional Resources

SCORE

Harvard Business

How to Read an Income (Profit & Loss) Statement

Lewis County Chamber Member Assistance

Create Your Management System

☑ Create an Organizational Chart

☑ Work with Attorney on Employment Documents

Employee Policies and Agreements
Employee Handbook
Job Descriptions

☑ Purchase Project Management Software

☑ Set Up Essential Management Tools

Calendar & Scheduling System
Operating Budget Tracker
Team Management System
Short- and Long-term Goals & Timelines
Choose and Track KPIs

Additional Resources

Develop Branding & Marketing

☑ Determine Brand Guidelines

Select a color palette
Design a logo

OR

☑ Hire a Graphic Designer

☑ Create a Website

Contact Information
"About Us" Page
Site Menu/Navigation Bar
Core Services
Online Ordering (if applicable)
Customer Testimonials
Company Blog

☑ Create a Tagline and/or Mission Statement

☑ Set Up Relevant Social Media Sites

☑ Print Business Cards, Signage, Collateral

Additional Resources

US Small Business Administration

Marketing & Sales

SCORE

Marketing Plan Guide

Locable

Local Marketing and Content Plans

Lewis County Chamber Member Assistance

Set Up Your Storefront or Office Space

☑ Identify Locations with a Commercial Realtor, Property Owner/Manager, and/or Local Economic Development Coordinator

☑ Hire an Attorney to Assist with Lease or Purchase Agreement

☑ Ensure Compliance with Local Zoning Ordinances

☑ If Required, Hire Architect and Contractors to Renovate the Space

Additional Resources

US Small Business Administration

Pick Your Business Location

SCORE

Setting Up Your Physical Location

Lewis County Commission & Economic Development

Lewis County Economic Development Authority

Lewis County Chamber Member Assistance

This information is provided as a service to our business community. The Lewis County Chamber is not responsible for the actions of individuals or organizations using this resource for guidance.