Starting a business from scratch is like planting a seed and having to constantly water it. It’s a lot of work! It’s a journey of passion, resilience, and strategic planning. If you’re contemplating turning your business dreams into reality, here’s a practical guide to help you along your journey.
1. Define your passion: The foundation of any successful business is rooted in passion and purpose. Identify what drives you, what problems you want to solve, or what value you want to bring to the world. Your business idea should align with your interests and resonate with a genuine need in the market.
2. Deep dive into research: Knowledge is power and in the business world, it’s your compass. Conduct extensive market research to understand your industry, target audience, and competitors. Identify gaps in the market and areas where your business can stand out. A well-informed start is a step closer to success. If you need some additional help with this step we offer a complete Brand Strategy Intensive.
3. Craft a solid business plan: A business plan is your roadmap to success. Outline your business goals, target market, revenue model, and marketing strategy. A well-thought-out business plan not only serves as a guide for you but also becomes a valuable tool if you seek external funding or partnerships.
4. Register your business & pop the champagne: Choose a business name that reflects your brand and check its availability. You can conduct a business entity search on the Secretary of State’s website. Once you decide, register your business. I recommend using LegalZoom. They make the process extremely easy and you often get free legal help for 30 days. Don’t forget to obtain any of the necessary licenses and permits, depending on your location and industry. If you are unsure of what type of registration you need (LLC, DBA, Sole Proprietorship, etc) check out this free quiz.
5. Set up your finances: Open a business bank account to keep personal and business finances separate. A lot of banks will charge you per month to have a business account so I recommend shopping around for a bank that fits your needs. (I ended up using a bank in my hometown where I don’t have access to an ATM but they were free. It made more sense for my business at the time). I also recommend speaking to a CFP about business taxes. Depending on the type of business you have you might have to file quarterly or yearly.
6. The fun part! Build your brand identity: I’m sure you’ve heard me rant about this before but… your brand is more than a logo; it’s the soul of your business. Visual branding is everything words can’t say. It tells your story, builds trust, and helps your audience see themselves in your brand. To truly stand out, you need an irresistible brand your audience connects with! This is where we come in. Together, we’ll capture your aesthetic and create a lasting visual impact so you can start connecting with your audience on a deep, emotional level. Check out our services.
7. Implementation and your online presence: This phase is where the magic happens! We take your new brand identity and explore different ways to make your brand experience stand out. Whether it’s through custom packaging, a website, business cards, or something else, this is where your branding starts to come to life.
In the digital age, an online presence is non-negotiable. You absolutely need a user-friendly website and to establish a presence on social media.
8. Launch with a BANG: This step is crucial. Do a soft launch first!! Invite family, friends, and local community members to test your product or service to gather feedback and make necessary improvements. Early feedback is invaluable! Then do a true hard launch. Pick a date, tell everyone, post everywhere, create a promotional campaign, and watch all of your hard work pay off.
Starting a business from scratch is exhilarating! But it does demand dedication, adaptability, and a willingness to learn. Remember, every challenge is an opportunity to learn and grow, so embrace the adventure and let your passion drive your success. I’m here if you ever need any help. Good luck!
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