Legitimize Your Business With the Basics
Does this sound familiar?
People often tell me that I dream and take way too many chances. What does that exactly mean? Through my early adult life, working for someone else has never appealed to me. Building something for myself, something to leave my family, in essence a legacy has been my goal from the beginning. Yes I AM a dreamer, a chance taker, but also a doer. I am an Entrepreneur - Serrieh
Believing in what you do is the most important step when creating a successful start-up business. But sometimes your great idea comes with little to no money to get it off the ground. Great credit for a business loan or a huge amount of money in savings is not always needed if you are able to start thinking outside of the box. Holding a drive and sense of creativity by using resources and focusing on networking abilities you already have can tremendously impact the deduction in cost when legitimizing your business.
Building a strong internet presence is a great step to help grow your a start-up when you do not have the cash flow needed to make a big splash or don't want to apply for a big business loan. Some say it is impossible to build a business without a huge cash flow, but I say it can be done. Of course, as time goes on, new ways to generate income will be formulated, but the initial set up phase can be done with minimal cash. Here are some basic steps to legitimize your business on a budget.
- File your LLC with your state, the state forms are usally pretty basic to fill out. Here is an article on which business structure is right for your business
- Obtain your EIN ( Employee Identification Number) from the federal government. Before you file for your EIN you will need to know how to file your business, LLC, Corporation, etc.
- Incorporate or file a Statement of Use for your business through the Sectary of State's Office. Most banks and businesses require or encourage this from any business they deal with. There is a fee and it ranges from $40-$300 depending what state, but it is worth every penny. Why Should I Incorporate is a great read.
- Always get a P.O. Box until you are able to get a storefront or business address. This keeps your personal information, personal. For some government paperwork, you will have to use a physical address (which can be your home) but dealing with team members and/or customers, a P.O. Box is recommend. They are very reasonable priced and the USPS usually has plenty available.
- Check licensing and zoning within your county and state.
- Check with the United States Patent and Trademark Office to make sure your company's name is available for trademark by clicking here.
- Trademark your company's name and logo. Application fees start at $225.
- Make sure your domain name is available, if it is buy it ASAP. This is usually fairly cheap as long as you keep it simple. Do not let the hosting company sell you extra products you don't need but adding privacy is a good extra step if you can afford it. Please just research each product yourself before making the final decision. Remember, you can always call back and add more to your plan as your business grows.
- Once the EIN and State Incorporation has been received, it is great to get a retail or wholesale license as well depending on the needs of your business and the state you live in. Some offices depending on the state have an online version. Once the application is submitted, the license should be issued immediately or within 10 business days.
- Make sure a thorough search of licensing required to operate your business and/or to sell products, food, merchandise, etc is completed. This is usually done with in the state department in which you or your business is located.
- Get all licensing required for your business.There usually is a fee, but it is a pretty wide scope of pricing depending on the industry. This is a must have in order to attract any serious investors and following the guidelines and laws within your state.
- Okay this one is a no brainer, lol... Hire us to create a user friendly one page website and help start your branding. Green Soul has affordable payment options and we will make sure your website reflects your business needs, goals and the soul of your services or products.
- It is time to create your Facebook and IG page... this is very easy and very free. Start posting clean and modern content. It is important to keep current and fresh content 3-4 times per week.
- If you want to add a little pep to your page's step, I suggest hiring, you guessed it... yep us again... to help you with some FB advertising. This step does take a bit more of a budget, but offer budget friendly payment plans.
- Reach out to friends and family to spread the word on FB and any other social media outlets.
- It is always important to make Business Cards. Yep we do that too and the business card design comes free with your logo and tagline package.
- There is nothing like good old fashion networking. Going to community events and getting the word out there about your dream, your vision, your business is a great way make a name for yourself. Let your natural charisma, the finesse of a natural born Entrepreneur inspire people to see your vision with as much passion as you do.Join your local Chamber of Commerce
These are the first steps that each Entrepreneur should take to kick off their business right. Each of these items are budget friendly or cost no money at all but are fundamental when legitimizing a business with basic resources. When starting a business on a budget it is important to use all the free to budget friendly resources available. Why this task may seem daunting at times, with a little perseverance and a great deal of research, it can definitely be done.
We are here to help. Contact Us and let's get started. Good luck with your future business endeavors!