HOW TO START A NEW STEP BUSINESS
- Create a unique business concept.
- Talk with the talk with StEP graduate intern, Rosie Dutt, about your business concept to ensure it fits with the StEP framework.
- If the concept is accepted, do market research and customer discovery to determine feasibility. Review the necessary “StEPs” for starting something new.
- Prepare and submit a detailed business plan.
- Deliver a business plan presentation and complete an interview with the StEP Advisory Board.
- Wait for approval and recognition.
- Raise capital and become official by fulfilling the requirements of a business in the St. Louis/Clayton area.
- Take advantage of the benefits of being a member.
HOW TO BUY INTO AN EXISTING STEP BUSINESS:
- Learn which businesses may be for sale/have shares for sale (most seniors will be planning to sell before graduation).
- Attend or view the Buying a Business Workshop – this is mandatory.
- If you view the recorded workshop, complete the follow-up quiz to become eligible to buy into a business.
- Once you’ve attended the workshop or completed the necessary steps, you may begin discussions with owners – review their prospectus, submit an offer, enter into negotiations.
- To obtain the video and quiz, contact sc@wustl.edu.
- If your offer is accepted, work with the sellers to agree on a bill of sale.
- Sign all necessary paperwork and begin the adventure of being a StEP Owner!