Starting a business is not all fun and games. Before you can launch your company and start making sales, you will need to tackle a variety of not-so-fun tasks like developing a business plan and registering with your state. Regarding the aspect in Steps to Launch Your Business whereas these tasks often create a significant barrier to new entrepreneurs, prompting procrastination and delaying the launch of promising businesses. Thankfully, online resources like CircleBizz.com can help you navigate these startup steps so you can get to the fun part!
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Build Your Brand Identity
Many business owners neglect branding because it sounds like too much work. But branding can actually be a lot of fun! You can think of building your brand as designing the personality of your business. What feelings do you want your business to elicit? What colors, fonts, and images convey your main message? What type of language does your business use to communicate with customers? Answering questions like these will help you establish the foundation of your business’ brand identity.
Creating a logo is a great way to start building your brand. Use free graphic design tools to make a custom logo that you can use in all of your online marketing content! Be sure to publish your logo on your social media profiles so you can start building brand awareness instantly.
Map Out a Marketing Plan
Creating a marketing plan is vital to the success of your business. Business News Daily explains that your marketing plan should include a description of your target audience, the most effective channels for engaging them, and information about what your competitors are doing to attract this same audience. Research makes up the majority of marketing planning, so don’t rush this phase. Take advantage of online market research tools like BuzzSumo, Statistica, and Answer The Public to make this process easier!
Choose a Business Structure
Choosing a business structure and registering your business is a relatively quick process, so there’s no reason to put it off. Look into the pros and cons of each business structure to find the best option for your company. For example, structuring your business as a corporation will protect you from legal liability, make it easier to attract investors, and enable international recognition. On the other hand, corporations are subject to double taxation and require more extensive bookkeeping. Forming an S Corp may be ideal if you’re launching a small business since this business structure offers tax savings.
Review Your Zoning and Licensing Requirements
Another important legal issue to consider is your zoning and licensing. According to LegalZoom, all businesses are likely to need some kind of license, and many will need several licenses and permits. You will need to research the specific requirements for businesses in your industry. The U.S. Small Business Administration is a good place to start when it comes to researching your licensing requirements and learning what steps you will need to take to get your compliance documents in order.
Set Up Accounting Systems
Next, you’ll need to establish a way to track and organize your business accounting considering Steps to Launch Your Business Look for online accounting tools to automate and streamline your daily bookkeeping process. Many tools also offer integrated payroll, expense tracking, bill management, client invoicing, inventory tracking, and other time-saving features. Even if you don’t need these robust features right now, getting set up on a great accounting platform will make your life a lot easier as your business grows.
Don’t put off the not-so-fun parts of starting your business. By getting these tasks out of the way now, you’ll enjoy invaluable peace of mind that your business is set up to operate smoothly. Write up a checklist of all the ‘boring’ things you need to do before launching your business, and set aside a couple of days to tackle all of these tasks at once!
Are you looking for more business startup advice? For informative articles about business, finance, accounting, and business law, check out CircleBizz.com!