Almost once a week we receive a call from a client or friend, telling us they’re thinking about changing their business or starting a business. Sometimes it has to do with a developing passion, or the nature of the economy. In either case, it is our pleasure to meet in person, confidentially, and discuss the options.*
If you are thinking about starting a business either to replace your current income, or to add a little bit to the side, keep these first steps in mind:
- What exactly is your goal in starting the business? More time with the kids? More income? Control of your own calendar?
- What will you sell or offer, and how is it different than what your competitors sell or offer?
- What type of customer will purchase your product or service?
- Do you have the expertise needed for the industry or type of business?
- Will you work alone, with family, with friends, or a co-owner?
- Do you need financing, and if so, will it come from savings, a bank loan, or investors?
- Will you work from home, a new office space, or at the coffee shop?
With these basic questions answered, take steps to make your business legal and protect your name:
- Purchase necessary web site domain names
- File a fictitious business name with the county
- Publish your business name in the newspaper as required
- Establish your company as a corporation, then re-file your name with the county, and re-publish your new name
- Establish a business bank account
- Discuss business taxes with your accountant
Once you are legal, it’s time to rock n’ roll:
- Develop your brand, colors, slogan, logo, etc.
- Develop your web site, business card, brochure, and other marketing materials
- Stock inventory or perfect your service process
- Reach out to prospects and ask for the sale!
- Evaluate and make changes as necessary.
*TBC does not provide legal or financial advice… please contact the appropriate professionals for this type of help.