Legalities
The first thing a person does, when playing a board game like Scrabble is to arrange all the letters. If it is Monopoly, the first thing you do is arrange the money. You need to do the same thing when you start a business except it is the paper work and not the letters or fake money. You will have to follow the federal, state and local rules and regulations. You need to have knowledge of zoning, GST, and the different legal structures. You need to be knowledgeable about how to register your business name. Errors in any of these things could lead to problems down the road.
Legal Structure
You need to know how your business is going to be structured before you open the doors. Do you want to be the only owner or do you want to have a partner. Do you want your business to be incorporated? It is important that you know the ramifications of each structure so that you can decide which structure will suit you best.
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