Numbers of people realizing that 9-5 job isn’t for them is rising. Job security isn’t priority anymore, people are looking for purpose, meaning and inner happiness. And as great as it sound owing a business has good and bad sides. And it isn’t always a fairytale, especially at the beginning of your journey.
OK, but let say you already decided, that you ready to take that road, and you motivated, determine, hard-working believer. So how to start?
Seems obvious. But theirs is more behind that sentence than it seems. Here’s some steps to follow, to get the answer.
What kind of business you want?
Franchise or independent
Manufacturing or service
Online or physical location
How you will deliver your service/product
Online or in-person
By yourself or through your employees
What transaction form your business will perform?
B2B (Business – to – Business)
B2C (Business – to – Consumer)
C2C (Consumer – to – Consumer)
B2G (Business – to – Government)
Is it existing type of business or innovative business?
Defining your audience one of the most important things for you to understand. If you want to create a strong brand and run an effective marketing campaign, you need to know who your potential client is.
If you want to find out more about how to define your ideal customer, go to the post:
HOW TO DEFINE AND ATTRACT YOUR DREAM CUSTOMER?
With all the free resources available on the internet, there is no solid excuse not to write a Business plan. You will need it before you launch your business. Even if you are not patient or good at writing, create a single-page business plan to look at and analyze your ideas from different perspectives. Having ideas on the paper will help you make better decisions initially, which will affect your long-term goals. Do not over-think it. And if you consider not writing a business plan because it is a lot of work, maybe you should reconsider becoming an entrepreneur. Trust me; there will be a lot more work than this.
Here are few examples of simple questions you should address while writing a basic business plan:
What is the purpose of your business?
Now it’s time to decide on your legal business structure. Remember that every state in the U.S. has different regulations. Instead of looking for information on Facebook or forums, go straight to the government website. You do not want to choose wrong when it comes to the IRS. It’s also good to consult a local CPA or check agencies that provide help with legal paperwork and procedures. Remember whether you choose: Sole Proprietorship, a Partnership, Corporation, and S-Corporation or Limited Liability Company (LLC), your decision will have long-lasting effects on the future implications of your own company.
To read more about business structure, check below government website
OK, you decided on the business structure that will suit your needs. Before you register, pick the name for your business that is available in your state. For NJ, you can check Business Name Search (njportal.com). Every state offers a Business Name Search tool.
TIP: If you are planning to get a domain for your business, consider checking domain availability. You can fall in love with the business name you just came up with, and suddenly it will turn out that the domain name you want is not available. To check domain availability, go to Domain Names, Websites, Hosting & Online Marketing Tools – GoDaddy
When it comes to the name, think about something short, catchy, unforgettable, and related to your business. Think about your business purpose, meaning, and your audience. What is the right sound and tone of the name depending on the type of business you have.
If you are running a funeral home, you shouldn’t pick something funny and joyful. When you want to open a Wedding Event Planning business, don’t go for depressing, sad, etc.
Once you have the name, you can finally register your business and apply for an EIN taxation number. Check all the permits your business needs, insurance, etc.
For federal license and permit information in N.J. state, go to:
I’ve heard many stories when people decided to call some random graphic and get the logo without thinking about it. Creating the brand is more than just a logo. It’s your story, and it’s your identity. Your logo designer should have at least a phone interview with you about your business needs, audience, product, and story to create a brand that will reflect your service/product and resonate with the right audience. If someone is delivering your logo without running a brand questionnaire, maybe it’s not good to hire them in the first place. Perhaps you think that logo is enough for you at the time, but you will have to either re-design your logo or invest more money to adjust the logo to your needs in the long run. While creating a logo, the designer must keep the logo’s future usage, like website, products, printing materials, social media. Nowadays, that is the standard. Also, a brand is about sending the right message and about telling the story.
The same is with the website. Website is the extension of your brand. A combination of a well-designed brand and a professional website will turn a one-time client into a regular customer. While hiring a web design company, pay attention to the following: mobile-first design, aesthetic, check if web design is branded (designer use the right color palette, the right typography, mood colors), is your website appears as secured?
But that’s the topic for another time.
Business is registered. You have your brand and website. Now it’s time for Social Media. Depends on the trade, the internet offers different Social Media Platforms that will suit your needs. In the beginning, it’s good to have at least two accounts. You can reach your audience organically, build brand awareness and society around your brand. If you hired a good brand designer, you should know how to use your brand on social media not to cause any damage to your brand image. (This will be probably the first time when you’ll appreciate yourself for hiring a brand designer instead of just getting logo design)
If you do not know how to start your campaign on Social Media or what platform you should choose for your business, you can search the internet. There are many videos, online courses, and blogs about running Business Social Media accounts. If you do not have time to do this and have a budget, you can hire a company to build your image on Social Media Platforms.
List of social media to consider:
TIP: look for the statistics to find out which Social Media your audience is and find out what kind of content users are looking for on a specific platform. For example, Social Media Statistics and Facts – Market.us
To find out what type of Social Media works for business check: https://brilliantagency.us/what-kind-of-social-media-are-best-for-your-business/
You have everything you need. You almost up and running. Now, think about marketing strategy and invest in advertising. No one can use what your business is offering if they don’t know you exist. Consider advertising on Social Media, local newspapers, radio stations, local T.V. Remember, nowadays, the best way to advertise is Social media. There is no other more specific way to measure and target a campaign than using digital marketing. During the campaign, you will get the data that will also help you target your audience better in the future, using less capital and getting better results.
Now go, and use all your strength and skills to do your job. You have just become an entrepreneur. Congratulations. The first step is the most difficult and requires all your strength, motivation, determination, and courage. And the first step is to start. Once the ball is rolling is getting easier with time. One thing at the time, follow the process and grow. Now it’s only up to you how you will present your value to your clients, what customer experience you will provide, and what quality you will deliver. Be honest, and be yourself. Sooner or later, your hard work will pay off.