1. Define the Purpose: Clearly outline the purpose of the tontine, whether it's for retirement income, funding a project, or any other goal.

2. Legal and Regulatory Considerations: Be aware of any legal and regulatory requirements related to financial arrangements in your jurisdiction. Consult with legal and financial professionals to ensure compliance.

3. Select Participants: Identify and invite individuals who are interested in participating in the tontine. Make sure they understand the terms and conditions.

4. Contributions and Payout Structure: Determine how much each participant will contribute and establish the payout structure. This may involve deciding on periodic payments or a lump sum distribution.

5. Documentation: Create a formal agreement or contract outlining the terms of the tontine. Include details such as contribution amounts, payout structure, rules for joining or leaving, and the process in case of a participant's death.

6. Administering the Tontine: Designate someone or a group to administer the tontine. This could involve collecting contributions, keeping records, and managing payouts.

7. Regular Communication: Maintain open communication with participants. Provide regular updates on the tontine's performance and any relevant information.

8. Legal and Financial Advice: Seek legal and financial advice throughout the process to ensure that the tontine is structured appropriately and adheres to all relevant laws.

Remember, starting a financial arrangement like a tontine involves significant responsibilities and potential legal complexities. It's crucial to consult with professionals who can guide you through the process and help ensure that everything is done properly and ethically.