You’ve got your business pretty well defined, you know what form it’s going to take and you know where you’re going to locate. Now it’s time to get down to the business of running your business. Here are some of the major concerns you’ll need to address as you get under way:

Marketing. Identify your potential customers–they’re your target market. Then identify what is unique about your product or service. Develop a strategy for telling your target market about your product or service, and that’s the basis of your marketing plan.

Pricing. The amount charged for a product must cover all costs and return a profit. Many small business owners fail to consider all the variables of producing their products in a competitive manner, so they either fail to generate a profit or charge more than the market will bear. The three main components of price are material, labor and overhead costs. Do a complete cost analysis and set a price that falls in line with your marketing strategy.

Supply. Identify suppliers of the materials you will need to provide your product or service.

Production. Determine the best, most efficient way to make your product or offer your service.

Distribution. Figure out the fastest, least expensive way to get your product or service to your customers.

Staffing. If you’re going to hire employees, be sure their roles are clearly defined. Prepare an organizational chart of personnel that covers the functions of sales, service, manufacturing and purchasing.

Training. Provide opportunities for your staff to learn more about their jobs and responsibilities.

Details, details. Don’t neglect the following:

• Get a federal tax identification number
• Get a state sales tax identification number
• Establish a banking relationship
• Retain an attorney for the business
• Retain an accountant/bookkeeper
• Choose an insurance company
• Obtain any necessary licenses