Firstly, the feasibility of any business idea must be tested.

	Is there a need for the products (Goods and/or Services) you want to offer?
	Who are your competitors and how can you win?
	What prices are customers willing to pay for these products?
	How many customers do you need at this pricing level to be Profitable?
	Is your business affected by (location) geography and (delivery) time?

Next, is to prepare a comprehensive Business Plan.

	Marketing Strategies to address your strengths, weaknesses, opportunities & threats.
	Product Analysis to project selling prices that wins market share and customer loyalty.
	The need for Fixed Assets and at what cost.
	The capabilities of Management to execute the plan.
	Financial Analysis to project future Cash Flow and Growth.

Then, Negotiate with Financiers.

	Armed with extract from your winning business plan, the Prospectus seeks funding.
	Equity Finance (Venture Capital) from Self, Family, Friends and others.
	Debt Finance (Loans, Bonds & Debentures) from Financial Institutions.
	A mix of both Equity & Debt Financing is generally the answer.

Now, Work the Plan.

	Using your Business Plan to set up your Management Information System.
	Record all the Products (Goods and/or Services) you intend to offer in their various stages.
	Record all Contacts as Customers, Suppliers, Venders, Employees, Lenders and Shareholders.
	List all the necessary Accounts’ Names and Numbers.
	Set up existing Fixed Assets, Investments, Bank Accounts, Loans and Capital Accounts.

Start by defining or knowing your products (Goods and/or Services).

	Establish a list of Categories and Sub-Categories to group your products.
	Register Product Name & Description, Size & Measurement, Serial, Make & Model Numbers.
	Record Quantity of Sellable Units in Purchase Package.
	Further divisions of Sellable Units or as Ingredients, without Sellable Units.
	Total Cost, Minimum Markup & Selling Price are affected by the product history.

Now, enter your Opening Inventory.

	Record Inventory at current value via the first purchase order.
	Identifying particular Goods and the Quantities that are in Stock.
	Set warehousing location codes and other means of identification.
	Cost (inclusive of prorated taxes, duties and other charges) of particular Goods in Stock.
	Total value of Your Inventory.

Then, record other Purchase Orders as required.

	Register Suppliers’ information.
	Record Date, PO Number, Authorized person and other relevant information.
	Select Goods purchased recording quantity and cost, discount and tax.
	Enter Payments through the Supplier Accounts.

And record Cash and Credit Sales as booked.

Cash Sales, Return and Refunds through the Cash Register.

	For Credit Sales, Register Customers’ information.
	Record Date, SI Number, Authorized person and other relevant information.
	Select Goods sold recording quantity and price, discount and tax.
	Enter Payments through the Customer Accounts.

Similarly, record Expenses.

	Register Venders’ information.
	Record Expense and payment Account Number, Date, and other relevant information.
	Record quantity and price, discount and tax.
	Check Expense Totals.

Also, record Payroll as necessary.

	Register Employees’ information.
	Record Payroll and Cash Account Number, Date, and other relevant information.
	Automatic calculation will fill in deductions and totals.
	Check Payroll Totals.

Further, record Fixed Assets at current value.

	Register Venders’ information.
	Record Fixed Assets and Cash Account Number, Date, and other relevant information.
	Automatic calculation will fill in depreciation and adjust current value.
	Set Maintenance Schedule.

Additionally, record Investment Instruments at current value.

	Register Investment Brokers’ information.
	Record Investment and Cash Account Number, Date, and other relevant information.
	Automatic calculation will fill in interest income, dividend and adjust current value.
	Set Interest Rate and examine your portfolio mix.

As well, record Loans and Mortgages at current value.

	Register Lenders’ information.
	Record Loans and Cash Account Number, Date, and other relevant information.
	Automatic calculation will fill in interest expense, principal amounts and adjust current value.
	Set Interest Rate.