Turning Your Dream Into A Reality.
So you’ve made the decision: you’re starting your own business. Becoming an
entrepreneur takes time, effort, and a significant amount of work, but it can be immensely fulfilling, as well as profitable. To give yourself the best chance for success, plan your course of action before jumping in with both feet.
First Things First
There are a lot of moving parts in a business start-up, so do your due diligence to ensure you get off to a good start. Begin by developing a business and marketing plan and determining the best business structure for your company. A Limited Liability A company, or LLC, can be beneficial, protecting you from some types of liability, providing flexibility, and giving you tax advantages. You can do the legwork yourself, hire an expensive attorney, or use a formation company to handle everything on your behalf. States have different regulations around LLC formation, so check yours out in advance by searching, “How do I start an LLC.” Identify Pre-Startup Location Needs
Real Estate For Your Business.
Whether you’re starting with a home-based office or renting space for a storefront, you’ll need to ensure you have the appropriate licensing and insurance to operate. If you’re working from a home office, make sure it’s away from the bustle of household activity, and keep it professional - the area should be dedicated completely to business operations. If you need retail or office space, a commercial real estate professional can help you identify properties that are in line with your specific needs. Factor in not only rent but other overhead operating expenses when considering finances. Ensure Proper Funding
The dreadful part, financing.
All businesses require some degree of start-up financing. You may work from savings, crowdsource from friends and family, bring on investors, or apply for a small business loan. Banks will want to see a fully developed business plan, as well as a solid credit score before considering a loan. Use caution in applying for personal loans or taking on high-interest credit card debt to finance your operation’s launch. It can take a while for a business to get established and start making money, and you don’t want to be burdened by debt that’s difficult to pay down. Secure Your Tech
Software and MISC Operations.
You’ll want to have the latest tech to help you run your operations, stay connected to vendors and customers, and market your business. You may need laptops or desktops for you and any other key employees, smartphones, printers, scanners, and any other tech that’s essential to operations. If you need large-scale equipment, you might be able to buy in bulk or lease items from a reputable company. Keep security issues in mind when it comes to tech. According to NIST, having appropriate cyber security measures in place can protect you against data leaks and theft. A policy for password protecting information and regularly backing up data can also help. Running and Marketing Your Business
Considering Freelancers For Your Business?
If you’re a one-person operation, you might not need employees right away, but you’re likely to require some degree of assistance now and in the future. Whether you need a full staff or just a handful of specialized freelancers, an employment agency can help you find the right people. According to Mighty Recruiter, one of the benefits of this approach is the agency handles the background screening and checks qualifications for you, saving time and effort. You can also advertise on job boards and through industry associations, but you’ll be responsible for screening applicants and conducting interviews on your own.
Creative Digital Marketing.
Look for creative ways to market your business. Attend a tradeshow, hold a contest, or offer discounts. You can also use Instagram to boost brand awareness in your community. Create captivating Instagram posts using an Instagram post generator. You can choose from a multitude of templates and then customize them to include videos, text, your logo, and much more.
There are many moving parts that go into a business start-up, and doing your legwork in advance can save you money and frustration, as well as set you up for success. If you’re looking to hit the ground running, digital marketing services from Bells Marketing Consultant can get on the right track. Call (417) 812-6395 to schedule a consultation!