So you Want To Start A Business, Now What?

So You Want to Start a Business, Now What? 

So you’ve got an idea and a plan for a business? Great! Think of us as your fairy godmangos, ready to help you through your next steps to become totally official. When it comes to starting a business, setting up properly ahead of time can save you from a lot of headaches later down the line. Today, we’re going to walk you through everything on our business checklist so you can launch with confidence and style!

Register as an LLC

Your first step is to register your business appropriately. Many people start as an LLC, but depending on your personal circumstances and business type, another business entity might be the best option for you. This is something you can research or ask an accountant or your lawyer about. 

Apply for an EIN with the IRS

Once you’ve formed your official business, make sure to register to get your EIN (employer identification number). This number allows you to do business banking and manage other important financial business. 

Get a trade name, aka DBA

If you don’t plan on operating your business under the exact name of your LLC, you’ll want to sign up for a DBA (doing business as) so that you can do business under the name you choose. For example, if your LLC is called Rainbow Unicorns LLC and you just want your store to be called Rainbow Unicorns, that is the name your DBA will state. 

Get business insurance

Once you’ve officially registered and formed your business, make sure to obtain any appropriate and applicable business insurance that you need based on your industry. 

Hire an accountant

If you haven’t already, it’s time to find and hire an accountant. This can feel like a daunting and expensive step, but mismanagement of business finances can get far more difficult and expensive when you have to clean it up. Better to start with a professional accountant from the beginning.

Write a business plan

Having a business plan is like having a roadmap. It helps keep you accountable and reminds you of where you’re headed when the inevitable ups and downs of running a business start to happen. A good business plan will require you to really dig into your goals and measure their feasibility, and it’s also important to have in the event that you’re seeking additional funding sources from loans, investors, or grants. 

Buy your website domain

The next important step is to secure a website domain in your business name. With website domains, clear and direct is best. You generally want to pick something as close as possible to your business or service so that people looking for you can find you easily and remember your website name. If we use our example from above, a store called Rainbow Unicorns should be rainbowunicorns.com not unicorndreamscometrue.com. Creating an easily recognizable brand starts here in the small stuff. 

Create a dot com email that matches your domain

After your domain has been secured, create an email through the domain to ensure consistency and professionalism across all communication channels. For example, info@rainbowunicorns.com is far more professional than rainbowunicorns@gmail.com. 

Create social media accounts for your business

Once your official business name and domain have been secured, it’s time to create social media accounts for your business. We recommend securing your handle across all social media platforms, even if you don’t immediately plan on using all of them. You never know when a certain platform will become more or less relevant or if you’ll find more of your audience on a platform that you didn’t initially expect. In the event that your business becomes very well known, it’s best to have your handles ahead of time. 

Research how to accept payments

You can’t sustain a business without revenue, so it’s important to research how to accept payments. Determine which payment methods you’ll accept, how you’ll process electronic payments, what system works best for you, and any applicable local, state, or federal laws you need to follow regarding payments. 

Get professional branding

Once you’re fully set up to go on the back end of your business, it’s time to introduce your business to the world. At Mango Marketing Co., we offer brand design, strategy, logos, and everything else you need to visually represent your brand. Check out our branding services!

List your services 

Now it’s time to decide on what services or products you offer. Make sure to create detailed explanations of what you’ll offer, who it’s for, and what is included. Now is a good time to decide on pricing as well. 

Launch a website

You’re nearly ready to go! Now that your business is set up and you have a brand identity and services or products, you’ll need a website to assist your marketing efforts. Despite what some may tell you, websites are not an “optional” when it comes to doing the best business possible. Websites are content you own, versus social media platforms that can disappear at any time. Websites allow you to collect emails, educate your clients, appear in better search engine results, and really own your web presence. Let us help! Learn more about our website services. 

Network within your community

Last but not least, it’s time to let your brand and business shine! Get out into the real world and network with others who share your industry or are interested in what your business offers. You can do this through entrepreneur meet-ups, trade shows, the chamber of commerce, and vendor events. The opportunities to get creative here are truly unlimited.

Download the business checklist here to check it off as you go! Don’t forget to subscribe to our newsletter at Mango Marketing Co. for monthly updates, education, and information for business owners.  At Mango Marketing Co., we love working with new businesses to help them design beautiful branding and powerful marketing strategies that get results. We hope to work with you soon! Inquire here.