Step 8: Business OrganizationMany entrepreneurs fail to properly organize their businesses before they actually get up and running; this can prove to be a costly mistake. You want to set-up your business organization as early in the process as possible so that when you get too busy with the actual running of your business you wont have to stop and worry about setting up the foundation.
For the purpose of this article, business organization refers to setting up all of the necessary back end systems so that your business can operate efficiently. The most common organization is in the form of accounting, bookkeeping, banking, IT, securing office space, business insurance, and accepting credit card payments. It is important to address these items early so that you have the proper time to dedicate to each area and to talk with multiple companies so that you can compare services and prices.