Silicon Bayou News, an online source which aims to highlight technological and entrepreneurship-related news in Louisiana, started a four-part series earlier this month describing the excitement, challenge, and trials an entrepreneur might face when starting a new business in New Orleans.

Part One: Starting a Business in New Orleans

Before you take any steps, especially monetary ones, it is crucial to create a sound business plan. This includes figuring out what resources you have, such as capital, people and skills, or lack thereof. Understand your strengths and weaknesses, then decide if you can overcome them or if you need outside help. New Orleans has several resources specifically designed to help small businesses get their feet wet, such as the Louisiana Small Business Development Center in New Orleans.

Part Two: Getting Your Business Off the Ground

The initial work is done—you have a business plan, a great concept, office space and you’ve even registered your LLC. Now the real work begins. You might feel like the world is spinning when you step into that office for the first day as the boss of your own company. So now what do you do?

Regardless of what type of company you start, you need to figure out your revenue stream. If you don’t have a client list, or some sort of cash flow, now is the time to develop these.

Part Three: Your Very First Taxes

Regardless of what people say, taxes aren’t always bad. Ignore whatever the media says on April 14^th. Instead, understand that with a little work beforehand, a little preparation, and perhaps just a bit more than a “little” paperwork (or Microsoft Word work at least), you’ll be more than prepared for your first tax season. With a little foresight and some luck, you might even be confident enough to finish early!

Part Four has yet to be released, but should be coming up within the next week or so. Click the links in the title for the full articles.