This is a continuation of New Business Start-up | The Steps To Take – Part 1.
I will continue discussing why you should get your New Business Start-up going as small as is feasible. As mentioned in that New Business Start-up article, one needs to break down the project of setting up your business in manageable sub-projects with specific tasks that can be checked off when done.
The reasoning for this is because the practice will save you time in the end so you do not have to do as much re-work due to missed tasks that are discovered later on.
(This Part 2 of a 2 Part Series. A link to the Part 1 of this Series is provided at the end of this module.)
You really cannot have a business today without a website. Use the domain you purchased that represents your New Business Start-up and get it up and running as soon as possible. This can be up and running before your company even ready to produce a product, it builds necessary credibility.
Today, Social Media is a fact of life today (Facebook, LinkedIn, and Twitter, to start). Once you have your website operational, this will be a necessary next step in building your internet presence for your New Business Start-up.
You want sales as soon as you possibly can. Do not wait until everything has been done and you are ready for your Grand Opening. This will help put a little cash in your pocket and also help to discover things that need to be “adjusted” in your process.
Brick and Mortar or Virtual
This is a question that today more than ever is a viable question. Many .com businesses may operate quite a while before they have a brick and mortar location. If your business can do this, all the better as this will reduce the overhead for your.
If your New Business Start-up relies on having a physical location, then this is something that needs to be dealt with very early in the game. Do not wait as it can take time to actually get into a location, especially if you have to.
You are going to meet people face-to-face in some business matters and having a professionally done business card will add credibility to your New Business Start-up. The lack of which, shows the opposite. Do not order more than you will need. Odds are you will be wanting to make changes to them before you use them up so there is no use in ordering a huge quantity. Order what you need.
Business Bank Account
Aside from the mess using a personal account to pay business expenses from, you will not be able to make deposits in the name of your business to your personal account. If you want to receive credit cards, these service providers will require a commercial account to do so.
If you intend to do your books yourself, get a program that you can use to help keep things straight. If you do not like accounting or you are disorganized by nature, hire a bookkeeper to manage the process. You may not need one full-time, you can use a service provider to do this where you drop off your information to them on a regular basis and they keep things up to date for things such as remittances to the government and reconciliations of accounts. Few things will doom a business as fast as not getting your remittances done as required.
If there is more than just you starting the business, you will need to make a formal assignment of duties so each knows their responsibilities, there will be minimal overlap and most importantly, no gaps in what needs to be done from what is actually getting done for your New Business Start-up.
I truly hope this article was a helpful to you. It is by no means all inclusive of all the things that need be addressed when starting your New Business Start-up, but it is a good basis to start from. For your convenience, you can download the entire article by clicking the download button below.
Part 1 of this article may be found here.