While starting a business may be complex or simplistic, depending on the nature of that business, many experts assert that some early steps include: having a store of capital available for a long period of time while in start-up mode; deciding the location of the business; its corporate and legal structure; creating your company name; obtaining licenses or certifications; obtaining a federal tax identification number to properly file IRS documents and taxes; forming a relationship with an accountant; and creating a business plan/strategy document.