Are You Considering Starting a Business?
With so many steps and questions that you must consider, it becomes difficult to know where to begin.
Here are four vital steps that every business startup should consider:
1. Create A Business Plan
You would not take an expensive sightseeing trip without first understanding your budget or your destination. The same applies to starting up a business. Google the term “business plans” and review templates and samples. Develop your budget, write your goals and milestones, stick them in your plan, and put the plan in a prominent spot on your and your key employee's desks so that you are constantly referring to it. Before you launch, ask yourself: What will I do if we do not reach the targets in our plan? What are our fallback positions? Then constantly go back to your plan and ask: Are we sticking by our deadlines for the tasks necessary to achieve our goals?
2. Develop Your Brand
Every business should have a distinct logo and a byline. What distinguishes you from the competition and what do you have to do to gain a competitive edge? Be consistent and loyal to your brand. Use it on everything from your business cards to the way you interact with your customers, including the way you answer your telephone. Constantly think of ways to create brand recognition.
3. It’s All About The Marketing, Baby
I once represented a fancy French restaurant. They hired a world-class chef, spent a quarter-million dollars on the interior, and shipped Dover sole in from Calais. Their marketing budget: zero. They assumed word-of-mouth would be enough. Two years after opening, they were out of business. Before you open your doors, you need a clear understanding of who is your audience and how are you going to reach them? These days, it’s all about Internet marketing and social media… but beware: use only the tools that will help you. People are not looking for law firms on yelp. They are not choosing their restaurants on LinkedIn. If you have a marketing budget those dollars might be best spent on an Internet marketing expert.
4. Talk To A Business Lawyer
Do you want to save taxes? Do you want to insulate your business from creditors? Do you want to protect yourself from litigation with your partners or shareholders? These are reasons why you hire a business lawyer. You do not have to spend a lot of money. A good business lawyer will listen to your goals and give you options. You can pick and choose what you can afford to do now and defer other items until you can afford them.
Do your homework and find one that offers a free consultation, so you can see if the chemistry works for you.
For more business tips go to: Business Tips
Call Julianne Frank at (561) 220-2528.
