What are the Steps to Starting a Business
Five Steps to Starting a Business
Everything from the name to your online fax service
You’ve a plan for Starting a Business and you even have a service or product ready, but, you’re so so lost about how to open your business you keep putting off the idea. Well now you can dust off the books and make your fantasy of starting a business as reality as we provide you with 5 clear steps you need to follow in starting a business!
Name Your Business
Step one in Starting a Business is to name your business. When Starting a Business you need a name that is easy to remember, but you also need a name that has not been used before. It does get tricky so focus on something that is easy to spell and say and relates to what you do. Someone should be able to see your name and instantly know what you do.
Get a Domain Name
Step two in starting a Business is to get a domain. This is easily achieved by a quick visit to NameCheap.com where you simply follow the process for a new domain. Always try to get a .com name and try to find one that is easy to remember and say and should also say something about what your business does.
Your Business Address
Step three is to set up your “business space” This is the “home” of your business. The address and telephone number that people are going to use when they want to do business with your new company. This could be the same information as your personal address, but do bear in mind that when your business grows and your home is too small for both your business and your family you will need to move your business and then change the details on all materials and documents relating to your business.
Another important part of step three is to set up a business email address. Your email address will be derived from your web address and you can set up several addresses to make you look more professional. You will want YourName@YourWebaddress.com , Sales@YourWebaddress.com and admin@YourWebaddress.com Once you know what you want set up a Google apps account so you can better control email and when you go on vacation you can access them on the web. You can also set up your online fax service through providers such as efax. This eliminates the need for a fax machine and toner and provides a great saving.
Structured before starting a business
Step four in starting a Business is to form a company entity. Although taxes and entities are not as exciting as the other steps in starting your new business, this is an important step. You need to do thorough research into the types of entities available and choose the one that would suite your new business most. Many new business owners choose to form a Limited Liability Company or LLC as this option gives you the same benefits of a corporation in the forms of limited liability as well as positive tax treatment like a partnership. Once you have chosen your entity you will receive an Employer Identification Number which you need when you set up your company bank account or purchase insurance for your company.
Develop a Client Base
Step five in starting a Business, which is the most important step. Develop a client base! How you ask? Well first you should create a marketing strategy and then work that strategy.
One of the keys is to determine who is your ideal client and what is there motivation for buying your product. Once you understand who your ideal client is you then need to determine the most efficient and effective strategy for approaching them.
If you product has mass-market appeal you may use media marketing strategies such as newspaper ads, Internet banner ads or even radio. A lot of it will depend on the size of your target market.
If your target market is smaller and there is a higher return per customer you make direct market through mail and postcards or even get on the phone and ring them directly.
Now that you know what’s involved in Starting a Business, it’s time to get moving, there is no time for procrastination, this is the time for action.
For more information on starting a business go to www.ImportExportHomeStudy.com/Business