Small Business Startup Checklist

Startup Business Checklist This checklist provides basic information to start a small business in Wyoming. While the list covers many of the major steps required, there may be others. Anyone who has decided to start a new business or expand an existing one, should first meet with a Small Business Development Center consultant.

Download the Start a Business Checklist

4 Stages to Start a Business in Wyoming

Concept
Feasibility
Development
Commercialization

1. Concept

This is usually the most fun and easiest part! Think of an idea for a business, hopefully an unmet need in your community. Write a page or so about what it is. If you are going to manufacture something, build a prototype.

Then, go right to stage 2 and start investigating. It is highly recommended you DO NOT buy a business license, rent a location, purchase inventory, or anything else, until you have completed stage 2.

2. Feasibility

This is the stage often ignored by new entrepreneurs, and even seasoned ones. It is time consuming and sometimes difficult, but truly necessary to investigate your idea. Positive comments from people you know can make you feel good inside, but are not objective enough to test your idea. Let us help you through this by providing education on how to proceed.

3. Development

Development is where you start to really spend money on expenses other than market research and prototypes. In this stage you start with an accounting system, get licensed properly, ready to pay taxes, hire employees, purchase equipment and inventory, purchase a point-of-sale system or cash register, launch a website, and so forth.

4. Commercialization

This is where you start selling and move into management, managing purchasing, marketing, accounting, and so forth. This stage also requires that you continually assess your products sales, and your clients. Client assessment should never end.