Starting a business can be an exciting new adventure. However, it can also be a massive headache at first. There are many things that need to be taken care of in the beginning to make sure everything runs smoothly. This checklist will give you an easy guide for what you need to do to start your new business.
Make a plan of action
The very first thing you should do in any business venture is write down everything that needs to get done. This includes daily administrative tasks, advertising, and of course, the business’s ultimate goals. You don’t want to keep these things in your head, or else you’ll overwhelm yourself. I personally prefer to map everything out. Mindjet offers a wonderful program called MindManager that makes this very simple.
Make a budget
As you’re writing everything down, you also want to write how much everything will cost. This will make it easy for you to see how much you’re going to have to spend to get your business off the ground. It’s also good to write down your current monthly income. Consider whether or not you may need to get a loan.
Register your business name
You want to choose a name that’s an accurate representation of your brand. Once you’ve done this, you want to make sure it’s trademarked. This ensures no one else will be able to use your business’s name. You can look up trademarks and register your name at www.uspto.gov.
Get a business licence
Most businesses require a license of some kind. Depending on what kind of business you’re starting, it’s either going to be a state or federal license. The cost of your license can also vary considerably. It may not cost anything, or it may cost several hundred dollars. To learn more, you can visit your local city hall. They will have all of the information you need.
Depending on the size of your business, you probably won’t be able to do everything on your own. You want to hire people whose skills are suited to the job they’ll be doing. You also want to make sure your employees share the vision you have for your business. Craigslist and Reddit can be good places to find people looking for work. Virtualassistantassistant.com is also a good place to find a virtual assistant.
You also want to make sure you take care of your employees’ tax information. The IRS requires you to have an employee identification number(EIN) before you can start hiring. You can apply for one of these online. Once you have hired your employees, make sure they are fully informed about their role, responsibilities, and their pay. In fact, a w4 tax calculator can help them estimate their paycheck withholdings.
Advertise your business
Your business can’t make any money if no one knows about it. What kind of advertising you do will depend on what kind of business you have. If your business is online, nothing beats Facebook. If it’s more of a local business, you may consider using billboards or flyers. Look at what other successful businesses are doing in your field, and decide what will work best for you. Don’t forget to factor in how much this will cost.
Once these things are in place, your business should be ready to go. It is very important to get started right away. Procrastination kills dreams, and it will kill yours if you don’t take action. So don’t hesitate. Put your plan into action right away.