Launching your business is easier than you think! We’ve Listed a few good steps to help you get the ball rolling.
First, you need to decide where you are going to run your business. Many businesses begin at home, and have 1 employee as the only member of the company. Many people hinder their own growth in business because they create so many barriers that stand in the way of them reaching their goals, so to eliminate the fuss… with the proper permits and preparation, you can run your business from home.
After you’ve got your location together, let’s decide what legal entity your going to take.
50% of entrepreneurs begin their business as a sole proprietors, right from the comfort of their own home. the only problem with this is knowing when to change legal structures.
The most common mistake people make when forming their legal entity is not going about the right way.
Once you know what type of business your interested in starting, the first thing you want to do is decide on a name for your entity.
We recommend the following:
Create a business email
Creating your business email should be your first order of business. It’s very important to keep your business mail and your personal mail separate. Although your domain will come with the privilege of setting up email accounts directly linked to your domain name, but it’s always good to have a backup with big guys, like Gmail or Yahoo.
Once you have your names all squared away, it’s time to create an email account you want to contract all of your business through. Gmail is a great source to do this because of the amenities that come along with the G-suite, such as the synchronized calendar, G-Drive, etc.
Secure your Domain
Doing a Domain Search with the registrar of your choice. Of course, we recommend using Go Daddy. They’ll scan the WHOIS directory for any one who may have your domain. If someone has it, or it’s up for auction, they’ll even invite you in to enter a private auction to obtain the domain.
Although Go Daddy offers web hosting, we recommend going with BlueHost. They’re super easy to work with and great for WordPress integrations.
Once you obtain your domain name, and secured your web server, you’ll be able to set up an email address on your domain’s directiory email@example.com.
Secure the Social Media Accounts
After you’ve checked availability of your domain, we recommend scanning all the social media platforms of your choosing. We highly recommend Twitter, Instagram, Snapchat, and Facebook. Although there are other popular social media platforms out there, these four are amongst the industry leaders.
Cohesiveness is Key
It’s very important to create a brand identity that is cohesive in spelling, along with your domain name. It’ll save space for your advertisements of having blurbs all over the place…
After you’ve secured your names on the web, lets move forward with securing your name with your local government agencies.
Companies INCFILE.com are great places to go to get your legal services covered. They’ve got a wide range of service offerings, such as Filling your DBA, Setting up an LLC, Trademarks, and Copywriting your work.
If you love to DIY, then you can always do a search with the government agencies.
First step is securing your business name is to notify the county of the name that you’ll be doing business as or filing for your DBA. Setting up your own DBA is super easy. Every state has different requirements for setting up a DBA, so we suggest checking out the SBA’s website for info for your state.
Once you have your DBA set up, it’s time to decide how you’d like run your business. Most people test the waters by running their buiness as a sole-proprietor, while others go straight by setting up a corporation as an LLC. If your into the charity business, it’s a common practice to set up a Non Profit Organization. If your are unsure on the proper method, we recommend consulting with a legal consultant to make the proper choice.
After you’ve set up your DBA/Legal Entity , it’s time to obtain an EIN number. EIN stands for “Employee Identification Number”. This is the magic number you’ll need to go down and open up a Business Bank Account. To obtain an EIN number, head over to https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online.
Setting up your business bank account is essental if you plan on making money with your company, which is in the nature of starting your own business.
Make sure your in compliance with your city, operating without proper permits could cost you serious cash in fines.
Hopefully by now, your goals are clear, and your ready for the next step in building your brand, in a major way.