There are many steps to opening a business. Establishing a location, securing a name, and finding the right employees are a few of the vital steps to running a successful business. The new owner is working hard to get the company off the ground and get everything done, but sometimes things get forgotten. The most overlooked basics in starting a business are creating a business plan and purchasing the right business insurance.The business plan maps out the direction the owner wants the company to take. It provides a general description of the company and defines the products and services the company will offer. Strategic marketing tactics are spelled out, daily operational duties and responsibilities are outlined, and financial statements and projections are included. Business plans can be overwhelming and can take a couple weeks or more to complete. Business plan templates,www.score.org/template_gallery.html can help make the procedure easier and produce an impressive plan.Business insurance is another commonly overlooked yet important step in starting a business. Insurance protects business owners from liability in the case of accident, injury or error. Learning about the different types of business insurance,www.sba.gov/content/types-business-insurance before the company opens its doors can save the owner unnecessary expense and grief.