by M C Kiggins

Created on: April 27, 2010

The first part is easy. You have an idea and you are excited about it. Is it a service or a product? Many teens start service type businesses, such as landscaping, pet walking, babysitting, or computer repair, so we will start there. If you are serious about your idea, then you should start your business the correct way, otherwise you make yourself vulnerable to yucky legal issues. According to the business.gov website, there are ten steps to starting a business. Don't worry, not all will apply to you.

1.  Research and plan your business. This just means: know what it is that you want to do. It is a good idea to research your idea and see if there is a need in your area for what you have to offer.

2.  Get business assistance and training. There are many resources available if you need them. Start with http://www.business.gov , a government based website to help small businesses, or try http://www.score.org , the website for an organization of retired business executives who offer free advice, counseling and mentoring. They have local chapters with volunteers who could meet with you.

3.  Choose a business location. This is probably not going to apply to you, as you will most likely be working from home, however occasionally zoning laws may prohibit you from starting some types of businesses, when you get to step number 9, you will address this further.

4.  Finance your business. You may need to have some money to start your endeavor. You will need flyers to advertise and maybe business cards to pass around at the very least. Maybe you need equipment for your business as well. These are things to take into consideration and either earn the money or find someone who will loan it to you.

5.  Determine the legal structure of your business. This means whether your business will be a sole proprietorship, partnership, LLC, corporation, non-profit or cooperative. You will probably be either a sole proprietorship, which means you are starting your business by yourself, or a partnership if you have a friend who is going into business with you. If you are planning to get more involved than a sole proprietorship or partnership, you should contact an accountant for a consultation.

6.  Register a business name (“doing business as”). This means to register your business name with your state government. If you are a sole proprietorship, then it is simply your full name. Not all states require this, check this webpage to see what the

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