Are you ready to take your dream, passion or great idea and turn it into a real business? If so, you are in the right place! I'm going to give you some guidance on what to do when you decide it's time to take the leap of faith into owning a small business. I will show you how to start an online business today!
So many of us have ideas, dreams and passions but don't have a clue how to start an actual business. I was the exact same way when I started my first business and I have learned some valuable lessons along the way. One of the very first things I would suggest would be to really think about wether your idea is going to be profitable because a dream is just a hobby if it won't make you any money.
If you answered yes, then we should move on to what to do next. First, you need to do your research. You need to decide on a name for your business and I would suggest picking something that is easily identifiable with what your are going to be selling for branding purposes. Branding is so very important when you are starting out as a new business owner and you want to make sure your name embodies what you are selling. Once you know what you want to name your business, you have to do your research. First, go to http://bit.ly/2CJvkdT and check to make sure someone else does not have that name trademarked. You can first search the name under basic word mark and then expand your search from there. If you have a product that involves a patent, you would need to do the same thing and search to make sure your idea is not already patented by someone else.
Now that you have done some research, you need to expand your search to cover social media and domain names. First, you will need to search for your name on all social media networks to make sure the handle is available. If it is not available, I would suggest picking a different name because you want it available as one name for people to find you online and consistency is key. After you have checked that off the list, go to www.godaddy.com and check to see if your domain name is available. If it is not, you can either contact the owner of the domain to see if they will sell it to you or you can pick another name.
Now that all of your research is complete, you should now have a business idea that has a name. Make sure you now purchase the domain name and grab all the handles on social media by creating profiles on social media under the new name you have chosen for your business.
Next, you need to figure out how you would like to structure your business. Would you like it to be a Sole Proprietorship, Corporation, LLC? You can find some very helpful information to make this decision by checking out this article: http://bit.ly/29UyD6j
Now that you have a structure, you need to form it. You can either contact a local business attorney or use a service like www.legalzoom.com. Either of those will allow you to create your business and make it official.
Now that you have created your business, you need to make sure you register for a Federal Tax ID, you can do so here: http://bit.ly/2a8UTrA
You may also need to register with the Secretary of State if you are an LLC on an annual basis. In addition, you will need to apply for a business license in your local area in order to operate your business. You can usually apply through your county occupational tax office for this.
If you plan to sell goods, you will need to apply for a sales tax ID and if you plan to employ people you will need to register with your state DOL for that ID.
It is always a good idea to research required licenses and registrations you may need because every small business is different. Following these steps will assure that you start your new business off on the right foot. I know it can be a daunting task so just take it day by day and keep a checklist to make sure you complete all of your tasks. It won't happen overnight but it will be a very exciting time once you see your dream become a reality.
For a complete new business launch cheat sheet click here!
Good luck on your new adventure! It will be ALOT of work but it will be worth it!
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Do you dream of opening your own online boutique?
Finding the perfect products, building a killer website and coming up with a catchy business name are only small parts of the process of starting an online boutique. So how do you go from dreaming about starting an online boutique to actually opening an online boutique?
Not sure? Don't worry...I've been there, done that and came up with a few simple steps to get you started on the right path to success.
If you have ever thought about starting an online boutique, you've probably asked yourself...Should I sell on Facebook or start a website?
And you are not alone...many boutique owners ask themselves this exact question every day!
Let's say you decide to start an online boutique right on Facebook. You create a Facebook page, pick a cute name and start posting items for sale. You add your friends and family to the page and they invite their friends and before you know it, you are almost to 100 fans (cue the confetti)