new business checklist
Want to turn your business ideas into a reality? Here are 10 steps for how to start a business.
1 |
map out your business
Some call this a “business plan,” we call this a simple roadmap. However you choose to describe it, mapping out your business details can help set you off in the right direction.
Ask yourself:
What’s your business idea?
What product or service am I selling, and who am I selling to?
What do I want my company’s experience to be like?
This webinar by SCORE | SBA asks more excellent questions for your roadmap, and it’s shorter than a show episode on Netflix.
2 |
File legal ownership
This step is by far the most daunting, but it’s essential for protecting yourself and your precious business idea.
There are many options for American businesses (sole proprietor DBA/FBN, Partnership, LLC/S-Corp/C-Corporation,) and it’s important that you consult someone like a CPA who understands your business's legal and financial implications in your particular state before you establish your business entity with the federal, state and local governments.
We personally love LegalZoom because they simplify business establishment, but we have also consulted with CPAs for various questions on our own business-building journey.
3 |
Get licenses and permits
In some industries, you may need to do this step first, but no matter what business you have it’s important to check for necessary licenses and permits before you start taking clients or customers.
LegalZoom does help to kickstart this step, but your best bet is to contact your local governments to ensure you have everything you need.
4 |
Open business bank accounts
Keeping your business funds separate can help you with bookkeeping and watching over your finances, a crucial part of any business.
You can shop around for different banks using NerdWallet, a great resource for comparing fees, signup bonuses, interest rates, and more.
5 |
Get a bookkeeping system
With a proper bookkeeping system, you can keep track of what you’re spending and what you’re earning, and you can also log deductible mileage and expenses (hello, tax savings!)
We recommend Quickbooks Self-Employed for freelancers and the beefier Quickbooks Online for partnerships and corporations.
Your goal is to check in with your system on a monthly basis to make sure all mileage and expenses are sorted and all income is labeled correctly.
A huge perk of bookkeeping is that the time needed at the end of the year for sending info over to your CPA for tax filing is next to zero!
6 |
Design logo + brand package
This is the fun part! Once you’ve unraveled who you are and what you want to be, you’ll want the visuals for your company to match.
It’s important that everywhere your company will be living (picture: website, social media, ads, business cards, etc.,) your brand communicates your company simply and attractively.
Yumari Digital can help you design your brand — contact us when you’re ready!
7 |
Build a website
Nowadays with the internet being everything to everybody, you need a website.
A website provides legitimacy of your business for both customers and future business partners, and it provides an opportunity for more people to get to know and contact your company.
Still not sure if you need one? Think of a website as real estate: you invest now in order to make a return later. Or, don’t invest now, and be upset later that someone claimed your precious domain name (i.e. property address) and now you have to spend a lot more money to buy it.
An added benefit of having a website is that you can use it as a marketing piece and to claim your stake in search engines. Go ahead, do a quick Google search for Yumari Digital. What comes up first?
Yumari Digital builds websites of all sizes, from freelance portfolios to huge eComm stores. Contact us for more information on what kind of website your business needs.
8 |
Start an email list
Emails are one of the most solid ways to communicate news about your business. Not only are they direct to people who care about your business (more about this in a bit,) but they also provide an easy opportunity for people to learn more and contact you.
The best way to start an email list is to add a newsletter signup form to your website. See the bottom of this post for an example. A newsletter signup form will give your site visitors the freedom and opportunity to sign themselves up without you having to lift a finger, and the added benefit of voluntary signups is that you’re only marketing to people who want to hear from you.
On the flip side, do not purchase email lists! By sending to people who don’t care about your company, you can put your MailChimp account at risk, or worse, get your domain blacklisted from having any of your email messages (including important ones) ever being delivered.
Yumari Digital can help you with your email marketing — contact us to learn more.
9 |
Create Social Media Accounts
Social media is the new business card. It communicates who you are and what you do, and it can open the door for new opportunities.
We recommend having your company on at least one platform like Instagram, LinkedIn, Pinterest, Facebook, Twitter, or TikTok.
Contact us to learn more about social media and what would be best for your specific business.
10 |
hire help
Running a company requires a ton of bandwidth, most of which should be focused on what you do best in order to stay focused and excited about your business.
If you find yourself struggling with any aspects of your business, be it bookkeeping, product designing, selling, producing, or marketing, then your next step is to hire out.
Yumari Digital is here to help you with websites, email marketing, graphic design, ads, and more. Contact us to learn more about how we can fill in the gaps of your business so you can stay on course with your roadmap.
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Disclaimer: Some links above may be affiliate links, and Yumari Digital is not your best resource for legal stuff. Please speak with someone who practices law for the most current advice.
