| 1. Have a vision, then define your mission
2. Develop a sound business plan with specific goals and objectives:
a. Define the products and services you will be providing
b. Define your customer and analyze your competition
c. Decide what legal entity to use for your business
d. Develop a marketing plan to meet your needs and budget
e. Develop a financial plan, including break-even and financing requirements
3. Seek business management advice:
SCORE (719) 636-3074; Small Business Development Center (719) 272-3844;
business organizations; professionals; trade associations; etc.
4. Find the best location for your business. Gather information about traffic patterns
(vehicular and pedestrian) to assess potential:
a. Traffic Engineering Division, 30 S Nevada, (719) 385-5445, has information on
vehicular movement
b. Observe pedestrian movement during business hours to estimate pedestrian numbers
5. Check local zoning regulations:
a. City Zoning Department, 101 W. Costilla, (719) 385-5982. Get a permit for a home-based
business if applicable.
b. City Planning Department, 30 S. Nevada STE 301, (719) 385-5905
c. El Paso County Land Use, 27 E. Vermijo, (719) 520-6300
d. Check neighborhood home-owner associations for any covenants which may apply.
6. Understand federal, state, and local tax laws:
a. Internal Revenue Service, (800) 829-1040 for questions. For forms: (800) 829-3676
b. Colorado Department of Revenue, 4420 E. Austin Bluffs Pkwy
c. City Clerk, Sales Tax Division Ste 203, 30 S Nevada, (719) 385-5901
7. Register your tradename (If a partnership or sole-proprietorship).
Or incorporate (If a Corporation of Limited Liability Company).
-- With the Colorado Secretary of State, (303)894-2200.
Save by on-line registration
http://www.sos.state.co.us/biz/FileDoc.do
8. Check whether a "Business License" is required for your type of business:
a. State of Colorado Dept. of Regulatory Agencies (303) 894-7800
b. City of Colorado Springs City Clerk's Office (719) 385-5901.
c. State of Colorado alphabetic Occupational/Industry License Data Base
9. Learn about management issues (seminars, local universities, continuing
education, libraries).
10. Check on adequate insurance coverage. (Insurance brokers who specialize in
business insurance).
11. Project your business activities far enough in advance to cover growth years and economic downturns.
12. Form an advisory team for your business. (Should consist of accountant, attorney, banker, and at least one
other person in the same type of business). Consider also including a SCORE counselor or SBDC counselor.
13. If you will have employees, be aware of the Wage/Hour Laws and Workers'
Compensation Laws:
a. US Department of Labor, (866) 487-9243
b. Colorado Division of Labor, (labor standards), (303) 318-8441
c. Colorado Division of Workers' Compensation, (303) 318-8700 or (888) 390-7936
d. Colorado Compensation Insurance Authority, Pinnacol Assurance, 800-873-7242
14. Call the Colorado Small Business Hotline (800) 333-7798, or see the "Colorado Business Resource Guide",
( http://www.colorado.gov/cs/Satellite/OEDIT/OEDIT/1154721645662 )
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