When I chose to go into business for myself and had questions many people acted as though it was some secret that couldn't be shared or a competition, at least that was my perception of my reality. Maybe I went to the wrong people or asked the wrong questions in the end I kept moving to make something of my own, then continuing to work for someone else. I definitely had other reasons however, within me I have a bigger painting pictured and this is only one stroke of a brush. So I decided to go ahead and share on my blog today about those experiences. I faced many challenges, money, knowledge, investors, marketing, and most of all customers. I didn't let that stop Me! I do have one advantage, my drive for a better life for me and my family and 30 years experience in my business.
1. The Idea, The Business Name-DBA (doing business as)
2. State Tax ID (profit or non-profit) ask questions!!!
3. EIN (www.IRS.GOV) Federal Tax Number
4. Employees?
5. Equipment? (Computer,Vehicle, Tools)
6. Customers? (Use Free Marketing)
7. Do you want or need an LLC-Limited Liability Company? (small business)
8. Knowledge is POWER! (read, read, read)
9. Understand and know all Labor Laws (save all phone numbers)
10. Call, Email and Get Social with potential companies to establish relationships.
11. INSURANCE
12.Be CAREFUL (Red Flags)
Okay here is my list over time I may update but this is what I have right now, my 11 month old keeps crawling on me so I better break it down for you now...
1. Now that you have your business name get your DBA and make it official.
2. Get your state tax ID, google the office nearest you in the state you reside understand and follow laws that pertain to your business, when your at the office ask questions, ask for details such as dates and lock it in etc.
3. Get on IRS.GOV and read about tax laws, its all there read UP!
4. Do you have employees? Check and see how this effects your business, read the laws etc, check irs.gov, it affects your business if you are not a sole proprietor. Understand sub-contracting.
5. Equipment! Every business will need a computer at some point get familiar with it, Vehicle, and most of all what tools will you need? Can you rent for now and buy later?
6. How to get customers! Social Networking in this day in age is a must the entire world revolves around it, yes really!, find free platforms across the internet that will allow you to promote your business for free, craigeslist etc, put yourself out there! There are tons of ways to market your business for free, ask google and youtube.
7. Contact your Secretary of state to get an LLC or an Attorney can help you as well. I'm in Texas so ours is established through our Secretary of state. Its about $300, make sure all names of the business match your DBA and your EIN setup you wouldn't want to get charged extra fees for names not matching.
8. Knowledge is POWER so read as much as you can, I say this because sometimes the answer is right in front of you! :)
9. You never know when you might have a question about labor laws so have there number saved just in case you ever need it.
10. Call, Email, and get Social its critical for your business if your doing this all yourself. Ask for friends to share your business, some will, some wont expect negative feed back. Unfortunately people are use to shutting down ideas or other peoples goals. Ignore THEM! Trust Me! You will get No's but somewhere you'll get a yes.
11. Check for insurance cost, do you need it?
12. The most important of this list, stay ALERT there are scammers everywhere and its inevitable not to come into contact with one. It can even be a customer depending on your business. Have a process in place and follow it. Think about all the ways someone could steal from you and highlight them AS RED FLAGS. If your using social networks, web host, any media on the web of any kind which you should be, read all the warnings, you'll be glad you did.
I hope this post helps someone who is thinking or in process of starting there own business.
I am know expert just another person who loves to read!
Thank you for visiting my blog!
Regards,
Eli
BYOB-BE YOUR OWN BOSS :)
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