{"id":560,"date":"2017-02-06T15:25:56","date_gmt":"2017-02-06T15:25:56","guid":{"rendered":"http:\/\/blog.boonle.com\/?p=560"},"modified":"2017-04-26T11:32:13","modified_gmt":"2017-04-26T11:32:13","slug":"10-steps-starting-business","status":"publish","type":"post","link":"https:\/\/blog.boonle.com\/10-steps-starting-business\/","title":{"rendered":"10 Steps to Starting a Business"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Whether you\u2019re a creative mind who wants to sell art online, or the brains behind a future fortune 500 company, there are a few preemptive measures that <\/span><i><span style=\"font-weight: 400;\">every <\/span><\/i><span style=\"font-weight: 400;\">aspiring entrepreneur should take before starting a business. With so much information, technology, and resources available to utilize, beginning an independent career in the world of commerce has never been easier. However, it is not recommended to delve fully into your vision without taking the time to research, and understand exactly what it takes to establish a financially flourishing business. If you have the next billion dollar idea, or just want to make a little side-income with an online shop, save yourself the stress of wondering <\/span><i><span style=\"font-weight: 400;\">what\u2019s next? <\/span><\/i><span style=\"font-weight: 400;\">Follow this guide to ensure that your business has ticked all necessary checkmarks before launch.<\/span><\/p>\n<p><span style=\"color: #333333;\"><b>1. Brainstorm: <\/b><\/span><span style=\"font-weight: 400;\">If you have an abstract idea as to what you want your business to pertain to, it\u2019s important to thoroughly flesh out your thoughts before making any important decisions. Grab a piece of paper, flip open your notebook, and start by thinking through different aspects of what you want your future company to look like. You may be surprised just how many things you didn\u2019t previously consider when that initial idea conceptualized in your head. Maybe you will come up with an even <\/span><i><span style=\"font-weight: 400;\">better <\/span><\/i><span style=\"font-weight: 400;\">idea for your business as you brainstorm. Some questions to ask yourself as you jot down your thoughts should include\u2014<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What are my main goals, and what do I want my end result to be?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What company or product am I trying to compete with? Is my idea original?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">How practical will this business be on a long-term scale?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What demographic will my product or service cater to?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Will this company be able to feasibly turn a profit based on my current vision?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When you feel confident with your business idea, and have ruled out any possible shortcomings during your brainstorming process, it\u2019s time to get a little bit more detailed.<\/span><\/p>\n<p><span style=\"color: #333333;\"><b>2. Develop a Legitimate Business Plan: <\/b><\/span><span style=\"font-weight: 400;\">If you think your business idea is too small, or not serious enough to spend the time developing a full-fledged plan, you should reconsider. Not only does a business plan allow you to present yourself to potential partners and investors, it also gives you the foundation necessary to truly solidify the beginnings of your business, and ground the concepts of your vision. Don\u2019t settle for the impending chaos of foregoing a business plan\u2014take the time to organize one, and save yourself the headaches during the start-up process. Here is a general idea of what you should always include when developing a business plan\u2014<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A consolidated, easy to understand summary of your product or service<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">General overview, including location, business type, structure, and history of your business<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Thorough market analysis which pertains to your field (research is <\/span><i><span style=\"font-weight: 400;\">key <\/span><\/i><span style=\"font-weight: 400;\">in regards to developing a successful business plan)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Financial overview and projection calculations for the first two or three years (essential if presenting to an investor or lender)<\/span><\/li>\n<\/ol>\n<p><span style=\"color: #333333;\"><b>3. Secure Proper Licenses, Tax Forms, and Insurance Information: <\/b><\/span><span style=\"font-weight: 400;\">To avoid any legal trouble in the future, it is very important to learn what licenses your business needs based on the products or services you are providing. The same can be said for your taxes and insurance. Even if you aren\u2019t quite ready to open the doors to your business, it\u2019s always a good idea to brush up on your knowledge of the legal side of things. A business can become costly when an injured or sick customer brings lawyers into the picture, or if you\u2019re filing your taxes improperly.<\/span><\/p>\n<p><span style=\"color: #333333;\"><b>4. Register Your Company: <\/b><\/span><span style=\"font-weight: 400;\">If you want to be legally recognized as a legitimate business, it is required that you register with the government, even if you are independent and file a &#8220;Doing Business As&#8221; (DBA). If you plan on establishing a corporation, you will have to fill out and file an \u201c<a href=\"http:\/\/smallbusiness.findlaw.com\/incorporation-and-legal-structures\/writing-and-filing-the-articles-of-incorporation.html\" target=\"_blank\" rel=\"noopener noreferrer\">articles of incorporation<\/a>\u201d document. This will be easy if you\u2019ve already written a business plan, seeing as most of the information required for this document is the same. You may also need to file for an employer identification number (EIN), especially if you plan on hiring employees in the future.<\/span><\/p>\n<p><span style=\"color: #333333;\"><b>5. Create an Identity for Your Business: <\/b><\/span><span style=\"font-weight: 400;\">Have you ever noticed that most businesses do their best to maintain a specific, consistent aesthetic? Take Facebook, for example. Ever since its conception, Facebook has never drastically deviated from their iconic blue color, simplified logo, and minimalistic layout. Anything associated with this social media giant is immediately recognizable as \u201cFacebook,\u201d and this is all to do with <\/span><i><span style=\"font-weight: 400;\"><a href=\"https:\/\/blog.boonle.com\/new-business-focus-brand-building\/\">brand identity<\/a>.<\/span><\/i><span style=\"font-weight: 400;\"> Could you imagine how dissociative Facebook would become if they stylized their logo, and changed their color from blue to red? It would feel like an entirely different company. This is why it\u2019s important to establish a specific brand identity, so when someone comes in contact with an ad, or a product, they can immediately say, \u201cYep, that\u2019s <\/span><i><span style=\"font-weight: 400;\">x <\/span><\/i><span style=\"font-weight: 400;\">brand. No doubt about it.\u201d With a little creative planning (and maybe the help of a skilled graphic designer), developing a brand aesthetic can be a very simple task. Here are some points to consider while doing so\u2014<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">When deciding on a business name, you should always ensure it isn\u2019t being shared by another company. Your name should be unique, and somewhat pertinent to the type of service or product you are offering. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">When designing a logo, it should be appealing to your buyer\u2019s demographic. For example, Toys \u201cR\u201d Us utilizes multiple colors, and a bold, whimsical font in their logo to imply that their target demographic is younger children. On the other hand, fashion labels such as Gucci use thin, simple fonts to connote sophistication.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Everything associated with your business, whether it\u2019s your website, business cards, or television ads, should follow a similar aesthetic to maintain brand identity.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #333333;\"><b>6. Establish an Internet Presence: <\/b><\/span><span style=\"font-weight: 400;\">Although this step isn\u2019t absolutely necessary, it should be noted that any business not utilizing the internet is missing out <\/span><i><span style=\"font-weight: 400;\">big time <\/span><\/i><span style=\"font-weight: 400;\">on potential sales. If you\u2019re starting an e-commerce store, you\u2019re exempt from this lecture, but for everyone else, listen up. Having an internet presence lends your business three things: advertisement, seamless customer interaction, and infinite opportunity for growth. If you\u2019re a brick &amp; mortar business, you\u2019re limited only to customers who walk through your door, but if you extend your company to the internet, anyone in the <\/span><i><span style=\"font-weight: 400;\">world <\/span><\/i><span style=\"font-weight: 400;\">can find and purchase your services or products. A website is important for any kind of business, but Facebook pages, Twitter accounts, and other social media platforms are also beneficial for broadening your customer base.<\/span><\/p>\n<p><span style=\"color: #333333;\"><b>7. Choose Proper Business Partners: <\/b><\/span><span style=\"font-weight: 400;\">This is possibly one of the most important decisions you may have to face in regards to owning and operating a business. Whether you\u2019re a sole proprietorship, or planning to run a larger company, chances are you will eventually require the assistance of a business partner. The benefits of having another helping hand to carry part of the workload are obvious, but if you choose the wrong partner, it can be severely detrimental to your business. Ask yourself these questions before settling on a prospective business-to-business relationship\u2014<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What are their credentials?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Do they understand my company\u2019s needs\/vision?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">How many other clients are they working with, and will they have the time necessary to help my business succeed?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Is this potential partner operating under ethical standards? Are they trustworthy?<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #333333;\"><b>8. Build a Team and Find Employees: <\/b><\/span><span style=\"font-weight: 400;\">Operating an entire business on your own can eventually lead to burnout. It\u2019s important to hire employees with different skill sets to take on different aspects of your company. Your team isn\u2019t limited only to those who work inside the doors of your business. Accountants, graphic designers, and marketing analysts may only be utilized intermittently throughout the year, but they are still an integral part of how smoothly your business runs. Creating a team can be a daunting, time consuming task, but it\u2019s important to take this step slow, and avoid settling for subpar, under-qualified team members.<\/span><\/p>\n<p><span style=\"color: #333333;\"><b>9. Once Established, Keep Going and Continue Growing: <\/b><\/span><span style=\"font-weight: 400;\">An entrepreneur\u2019s work is never finished. Once your business has launched, and you start to see results (whether good or bad), it\u2019s <\/span><i><span style=\"font-weight: 400;\">imperative <\/span><\/i><span style=\"font-weight: 400;\">that you continue researching, developing, innovating, and growing. There isn\u2019t a \u201cone size fits all\u201d method for building a successful company, so it\u2019s important to constantly try new things, network with others, and market yourself as much as possible. Make notes as to what works, and what doesn\u2019t. If you get stuck or have a question, don\u2019t be afraid to ask your colleagues (or even the internet) for advice and suggestions.<\/span><\/p>\n<p><span style=\"color: #333333;\"><b>10. Improve through Failure: <\/b><\/span><span style=\"font-weight: 400;\">\u201cFailure\u201d is one of those words that most new entrepreneurs would rather not hear or think about in regards to their vision. When starting a business, the only thing you can hope for is success through hard work and determination. But it should be noted that <\/span><i><span style=\"font-weight: 400;\">most <\/span><\/i><span style=\"font-weight: 400;\">companies don\u2019t hit a home-run the first time around. Products will require re-formulating, services will need fine-tuning, and the general operation of your business probably won\u2019t work out exactly as you initially planned. However, these things shouldn\u2019t be a reason to give up. Instead, they should be seen as opportunities to learn and improve.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Prior to co-founding Twitter, <a href=\"https:\/\/en.wikipedia.org\/wiki\/Odeo\" target=\"_blank\" rel=\"noopener noreferrer\">Evan Williams put his efforts into a podcast platform called Odeo<\/a>, which was rendered obsolete almost immediately after launch. Sony, one of the biggest names in consumer electronics today, got their start by developing an electric rice cooker which could barely perform the task it was designed for. Stories like these aren\u2019t uncommon. In fact, most companies you are familiar with were birthed from the ashes of previous failures. If you begin a business, and it doesn\u2019t immediately go the way you envisioned, don\u2019t call it quits. Take that failure, learn from it, and transform it into something new.<\/span><\/p>\n<p><span style=\"color: #333333;\"><b>Conclusion: <\/b><\/span><span style=\"font-weight: 400;\">Don\u2019t start a company without thoroughly understanding what is involved. If you try to launch a product or service without first checking off the requirements necessary for success, you are destined to find yourself drowning under the stress of disorganization, and unpreparedness. Do your research, make a plan, and follow through with your idea. Build a team, establish an identity, and grow from your failures. You never know how far your business idea will take you.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re a new business owner who is still having trouble developing a brand aesthetic, or doesn\u2019t know where to turn to for web design assistance, it\u2019s important to remember to utilize the resources available to you. <a href=\"https:\/\/boonle.com\">Boonle<\/a> is a design-centered service, whose goal is to instantly connect you<\/span> <span style=\"font-weight: 400;\">with a marketplace of student-based freelancers. Post any desired project on a name-your-price basis, and connect with hundreds of talented, qualified designers to join your company\u2019s team.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"> \u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you\u2019re a creative mind who wants to sell art online, or the brains behind a future fortune 500 company, there are a few preemptive measures that every aspiring entrepreneur should take before starting a business. With so much information, technology, and resources available to utilize, beginning an independent career in the world of commerce &#8230; <a title=\"10 Steps to Starting a Business\" class=\"read-more\" href=\"https:\/\/blog.boonle.com\/10-steps-starting-business\/\" aria-label=\"More on 10 Steps to Starting a Business\">Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[14,15],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>10 Useful Steps When Starting a Business - Boonle Blog<\/title>\n<meta name=\"description\" content=\"There are a few preemptive measures that every aspiring entrepreneur should take before starting a business. 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