May our team be the first to CONGRATULATE you on starting your business. Now, of course, you might be
trying to figure out the next step, so below you will find the steps to
starting and we hope this helps.
What You Need to Do Know: by Kenton Young with KJConsults Marketing Group
1.
Determine viability – is your
product or service needed in the market? Who is your Idea customer?
2. Write
the vision and make it plain -Create a business plan
3.
Figure out the money -How much does it cost for you to create your
product or provide your service. What is your expense and profit margin? What is your budget for money and time
invested into your product or service?
4. Get
family behind you -who is partnering with you on this mission because its
better to go with others than by yourself because you will need the
encouragement and accountability.
5. Choose
a business name – Decide on what name you will give your business and why you
are choosing that name.
6.
Register a domain name – buy
a domain name. When you get a domain name it puts things into perspective, you
are a owner and you own your personal domain. Find out where to purchase your
domain here.
7.
Incorporate/figure out the legal structure – What type of business structure
should you choose? Should it be an LLC, S-Corp, etc .. find out what is the
best for your business.
8. Apply
for an EIN – Many people are unaware of an EIN which is Employee Identification
Number, but in a sense, it helps the government identify you as a company.
9.
Investigate and apply for business licenses – Research and find out if your
business requires license. Of course,
that builds credibility.
10. Set
up a website – Now that you gathered all the important information about your
business, it’s time to setup a website, let the world know who you are and why
they should do business with you.
11.
Register social media profiles – In today’s age everyone is social, so of
course you should setup a specific business profiles about your business, that
way people can connect with you from different platforms.
12. Start
your revenue stream -It’s time to make money.
I’m sure at this point you have already started selling your services or
products or actually been testing them out.
One of the first things that people should do with there product or
service is TEST THE MARKET DEMAND beyond there personal friends and acquaintances. Here are a few questions you might ask? What problem does my service or product
solve? Where do my potential customers
hang out? (Time of day, location,) Where do my customers spend there money? (Ah
ha… this will give you much insight
13. Rent
retail or office space – Great it’s time to get a central location so customers
can meet you. Because business has changed
a lot these days, now a person can rent a space as needed, versus paying a lot of
money every month until you are an established business bringing in a significant
amount of revenue. So here a few places to do business for free, a local shopping
plaza like Panera bread, Tropical Smoothie or you can rent a office space like
regal for your meetings.
14. Order
business cards – Every business needs to have business cards not just physically
but also digital.
15. Open
a business bank account – Always separate your business from personal home
account. (ALWAYS KEEP IT SEPARATE)
16. Set
up your accounting system – How do you handle all your transactions? Well I’m glad you asked. There are many free invoicing systems that
you can use to maintain records of your business Click here to learn.
17.
Assign responsibilities to co-founders – Don’t do all of the work yourself. Partnerships are Amazing
18.
Upgrade your smartphone and choose apps – One of the greatest mobile management
tools is your cellphone and thanks to Google and Apple. Millions of people have created apps that
support entrepreneurs, small businesses, nonprofits and more. Click here to find out a list of free apps.
19. Find
free advice – Because you just started a business and need a lot of help, Why
not further your education there are many resources available to small business
owners like ourselves. We will send you a list click here.
20.
Consult your insurance agent and secure coverage – Protect your business,
legally, and business wise.
21. Hire
your first employee – It’s the greatest feeling in the world to hire an
employee to help carry out your vision but please make sure, that you have all
of your major business plans and procedures laid out.
22. Line
up suppliers and service providers – Depending on the particular product or
service you are offering there are lot of people that will be able to mass
produce what you do through a strategic partnership.
23. File
for trademarks and patents – Own your Brand. Not sure how to get your items
trademark we can point to some great places here.
24. Work
your network – Have you thought about who is in your cellphone. Did you know the average person has about 300
to 800 phone numbers in their phone and people are waiting to hear the exciting
news about your business, right? (maybe so, yes not really) But what do you
have to lose tell everyone in your phone directory and social media outlets
what you’re doing, business might come from that. Because you never know who knows
who.
25. Don’t
waste time on “partnerships” – Be wise on who you partner with. There should be
a few questions that you should ask yourself?
1. does this individual value I value
2. How does this individual handle
challenges? 3. Is this person honest and
upright 4. Check the references on this individual learn more here
26.
Refine your pitch – What is
your 15 to 30 second elevator pitch. I
should be able to wake you up in the middle of the night and let me know what
you do in 15 to 30 seconds.
27.
Refine your product, and marketing and sales approach – Theres a phrase Plan,
Do, Review, and repeat that process, Over and over and over.
28.
Secure your IT – Because we live in a digital age technology expert is
extremely important both for the software systems that you use or even for your
devices that are used to run your business, such as computer, cell phone, etc.
29. Get a
salesperson or sales team in place -Now, who is going to market and promote
your product for you. One of the
greatest things in the world is to share your vision with people and they catch
it and can now communicate the vision to other people like it’s their own. That’s
right you want people that will take OWNERSHIP of the vision and promote.
30.
Get a mentor
Thanks for allowing us to share this list.