How to Start Your Own Business

So you’ve got the idea, you’ve picked out the names, you’ve created a plan for your business, and you have some sort of an idea and thought about where you go from here regarding sales, profits, marketing, and more. That’s great! You’re well on your way to starting a new business. But… what do you do to, you know, make it official? And how can you really start a business and make sure everything gets done right, and legally, to proceed?

Here are just a few tips that you need to know and remember when it comes to starting a business, so that no matter what you may go through or what you may do from a day to day standpoint, you can effectively create the perfect business and do it within legal and ethical realms, as well.

Start with an LLC, a corporation, or a non-profit organization

Is your business a for-profit or a non-profit organization? If it’s a non-profit, you’ll need to apply for special 501(c)3 exemption status. For for-profit companies, you can either create an LLC or a corporation (Inc.). Both can work, depending on the size and scope of your business itself, though an LLC (limited liability corporation) is typically cheaper to form, allows for pass through taxation to you, and protects you and your personal assets against business suits and other legal problems that may arise in rare cases.

Do you know the permit requirements in your state and city?
Depending on the state and city in which you live, your business may be required to hold some type of permit to conduct business, make sales, and more. While these permits are relatively easy to obtain, and incredibly cheap to purchase and renew year to year, they nevertheless have to be produced; without them, it can be illegal to run your business and move forward with sales. Research your state, county, and city permit laws before deciding to open up a business, to ensure that you do so on the right side of the law from the start!

What about your logo, business name, web domain, and branding materials?

Part of the fun – and challenge – of starting a business is the need to effectively and perfectly brand yourself and your company, so that customers recognize it and react accordingly over time. This starts with your business name and logo, which need to be branded smartly so that you get the most out of your unique name and visual marketing pieces for customers. This extends, then, to your web domain – before you begin your business, make sure you have a website lined up and at least purchased (if not created in full), so that your customers can find you, and you can be made to look good and professional.

It can be complicated starting a business, but it’s also one of the most rewarding things that you will ever do. Make it a point to follow all the rules of law regarding permits and more, but know that when you start your business, you are on the way to achieving financial freedom and all of your personal and professional dreams.

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