The other day I bought a new printer for my computer. I opened the box and on top were two items. One was a booklet about 20 pages in total detailing all the steps to get my new printer up and running. It also included a detailed guide, with pictures, of routine maintenance and a section on possible reasons my printer has stopped working. The second item was a piece of cardstock folded in half with the title "Quick Start Installation Guide". I grabbed this piece of cardstock, looked at the pictures and went about setting up my new printer. Only after I had it installed did I grab the 20 page in depth book to identify the symbols on the display panel.
Some people will go for the in depth version of installing a printer making sure they have all the details covered and they fully understand how to work their printer before turning it on. Others will grab that "cheat sheet" and then wing it until they need additional knowledge.
Starting a business will probably fall somewhere in the middle of these two options. No one should just "wing it" until they come to a road block. There are legal considerations, tax considerations, and necessary paperwork involved. Failing to accomplish specific things in the beginning can cause a huge headache later. You don't want to ever be in the position where you have to ask for forgiveness rather than permission when it comes to legal authorities. However, this shouldn't keep you from starting your own business and this process can be quick, easy, and pretty painless.
I have listed some basic steps and things to consider when starting your own business. These are not necessarily in order but more so, a basic list, a "quick start" guide. Future posts will break these steps down into more detail. To find more in depth posts on specific topics click on the three lines on the top right corner of this blog and then click on "Labels" and then click on the topics where you would like to find additional information.
1. Choose your product or service. Is this something you buy wholesale and sell retail? Is this a service you will be providing yourself?
2. Will this be your full time job or a part time job or a "side hustle"?
3. Where will you be doing this business? Do you need to rent space (store front, office, outside space)? If you are working from home, are you zoned to house a business in your home?
4. What fees, licenses, certifications will you need? Do you need a business license from your county/city/township? Do you need a license to perform this service? Do you need to become a member of an organization? Does your business need any additional legal considerations?
5. Create a name for your business. Register it with your state corporation commission. Create social media pages with your business name.
6. Begin a basic ledger sheet for your start up. Plan for start up expenses. Order raw materials, place wholesale orders, purchase equipment.
7. Organize and set up your "office management" area. Create space for receipts, how you will deal with book keeping, payroll, how you will collect money, etc. This step includes opening a bank account.
8. Consider insurance. Does your product or service need liability insurance, malpractice insurance, etc.? Most businesses need insurance.
9. Marketing Plan. Where is your sales outlet? On line, your own retail establishment, in other retail venues, in customer's homes, in your home? Who are your potential customers? How will you advertise?
10. Begin creating inventory. If it is a service, begin to gain a following by providing samples in the form of testimony, photos, if possible.
11. Plan your opening day! Advertise, spread the word, plan your set up, business cards, flyers, signage, logos, etc.
This is by no means an in depth list, but it is a good start to getting you thinking and moving towards opening day.
Your start up process should be fun and exciting. Break steps up into manageable pieces. Do things one step at a time. Create checklists and mark off items you have completed.
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