Posted on Thu, Mar 31, 2016 @ 08:00 AM by Carlos Lahrssen
Being a business owner means you must not only wear multiple hats, but you have to take ownership of those hats, too! Day by day customers are expecting more of businesses, and you have to step up to the plate and ensure you exceed their needs.
It’s great that you’ve decided to start a business! However, before jumping in, you need sufficient planning! What’s your idea? Who are your market, and have you researched them? What are startup costs?Answer these questions first--then you can move forward and grab another hat to wear.
Startup Business Checklist
Take out your notes app, a piece of paper--whatever gets your business brain pumping! You’ll want to compartmentalize your tasks by day, week, or month; whatever works best for you. Although many solutions exist out there, it’s important that you tailor business advice and guidelines into your own formula.
First, look yourself in the mirror and shake off any preconceived notions you have about your idea. At its root, does it solve a problem? Would you use your product or service? If not, it’s back to the drawing board.
Check off which steps you’ve accomplished:
- Perfect Your Pitch
Write down your business pitch (or “elevator pitch); record it if you need to. Then, listen back. Does it sound too “salesy?” Is it something you find others will nod their head to in agreement?
- Form a Business Plan & Set Goals
To be addressed as a business, there are a few things you need to do first. Write down all your financial costs and milestones you need to get an LLC, domain name, etc. (whatever applies to you)!
- Friends & Family
If your friends and family are on-board to your business, they’ll talk to their friends and other family, and hopefully this will spread your influence slowly. Word of mouth is a powerful tool in business. The more people you have that are willing and wanting to buy, the better! Make sure not to pressure them, though, or you may scare them off.
- Business Bank Account
Create a business account so you can separate your personal and professional revenue. Also look into getting business insurance, and credit. This will tie directly into accounting, as well.
- Get Licensed
Whether it’s getting an Employer Identification Number (EIN) or a license, you may need state or federal-level licenses and/or permits. Have all of these in order before opening the doors. Find out from the U.S. Small Business Administration what licenses you need!
- Digital Marketing & Branding
Get your web presence known ASAP! This includes social media profiles and any legal-ese that’s needed on your website, as well as branding, logo, colors, letterhead, business cards, and so on. From there, you can start fleshing out your marketing plan for success and promoting to your personas and their pain points.
- Protect Sensitive Information!
Have a secure system, and backup all of your data. You can’t afford to lose customer information, or worse, have it leaked out! Utilize someone who has expertise in IT, if needed, to make this happen.
- Get Revenue
Perhaps the most obvious step is to start making money as soon as you can. Startup businesses can sap many resources in the beginning, but it will compound upon itself with time!
Achieving Startup Business Success
If there are kinks to refine, or if something doesn’t work, just remember a quote from the great Thomas Edison:
“I have not failed. I’ve just found 10,000 ways that won’t work.”
Entrepreneurs lose lots of sleep, and work extremely hard to get their businesses running--you know this! But by putting in the work, you will be able to begin building out a fantastic team to help successful scalability! To learn more, we invite you to check out some of our free resources.
Topics: Small Business