Ready to start your own business but not sure what to do next? Here are 7 essentials steps for starting your own business. Let’s get you out of dreaming of running your own business and into doing it!
What’s In A Name?
Your business name should be available as a dot-com address, i.e. OakStSocial.com, as well as a handle on all key social networks, to include Instagram, Facebook, and Twitter. If you are just launching a business and your business name is not available in every one of these ways, pick a new business name. You may have to think outside of the box, but it’s worth it because your digital presence is everything! (Be sure to reserve all of your social handles the second you pick a business name and buy a dot com.)
What Do You Stand For?
Once you’ve secured the above, make sure you further develop your brand story. What is the ONE key thing your company will stand for? What is the ONE key thing you hope to accomplish? Who is your target customer? (Not all of them -- just one of them.) Let’s start with one key client profile. Build out a concept of this ideal client… who they are, what matters to them, etc. Is your brand snarky and cutting edge or kind and inspirational? Figure out who you are so you can share your brand story accordingly.
If you are a small, boot-strapping company, it’s time to get digital… and it can be done cheaply. I love Squarespace for websites. I am no expert but I personally built the site you are on right now for my personal blog in about 4 hours total using Squarespace. I pay less than $30 a month to keep it running to include email via Google for business and the purchase of my dot com, CarolynJarrettJones.com. Set up your social profiles: Facebook, Instagram, and Twitter are musts.
Register your Business
Don’t do business personally. Register as a proper business through the county + state you are in. You can skip the trademarking for now, just set up shop as a legal business entity in some capacity -- to protect your personal assets to some extent -- and get an EIN. You’ll need this to open a business bank account and start making money.
Get Funded and Create a Budget
I have started two successful companies with less than $500. I am not suggesting you need a fortune, but you need a bank account, a budget, and some starting funds.
Have an Action Plan to Make Money… and Do It!
It’s been said that if you do what you love, the money will follow. I have to say, I think this is terrible advice.
I've done many things that I've loved and I've never had people throw money at me. I have always had to go out and earn it!
Have an action plan to drive revenue and be prepared to put that plan into place immediately. The quicker you can start making money to support your business and its growing needs, the better.
Take That First Step
“The real entrepreneur is a doer, not a dreamer”
I love this quote because I think it’s so very true. The best tip for starting your own business is just do it! Take action. Start today.
Planning is fine but not if it stops you from doing. Trust me, when you launch your business, so much of what you planned will pan out differently than expected anyway.
The most essential tip for starting a new business is simple: Do it…now!
Are you ready to start your own business? Not sure where to start or what to do next? Let’s talk! Share your concerns in the comments below…