Timeline
One Year Timeline For Entrepreneurs
Starting your own business is not something to be rushed into. Careful, advanced planning can
ensure the success of your venture. Below is a suggested one-year plan.
One Year Before Startup
• Decide what business you want to start. Be specific in your business definition.
• Define your ideas in writing. Determine exactly where you want to go.
• Assess the impact on your family and personal life. How will this affect your relationships? Will
your family support the use of finances and time?
• Begin research. You must determine if there is a need for your product/service. This research can
be preformed by students, professionals, or even on your own.
• Build your personal skills by taking formal management/business courses if needed. Contact
Western Technical College at 608.374.7700 for more information.
• Contact the Wisconsin Department of Workforce Development at https://dwd.wisconsin.gov/ for
information on employment and development concerns in the state of Wisconsin.
Six Months Before Startup
• Determine the focus of your business. What do you want to specialize in? It is easier to excel in
one area than at many.
• Start writing your business plan. (See page 6 to begin.)
• Define your target markets. Who is your intended clientele? Who should you aim your
advertising towards?
• Research business and trade organizations. Most areas of business have agencies and
organizations set up to facilitate business. Take advantage of what these groups have to offer.
• Start looking for the best location for your business. How much space do you need?
Conduct the search on your own or contact a real estate agent.
• Determine your cash needs. How much money do you need for start-up? What will your
monthly variable and fixed costs be? What is your break-even point? These are all
questions that must be answered. You must estimate your cash flow.
• Review