10 essential key steps to starting your own small business


So you want to start your own business? It can seem like a big decision to make, planning can take valuable time and sometimes you will have days where you begin to question why you started in the first place. To help put things into perspective for you, here is a step by step guide that will help you through the process.

10 essential key steps to starting your own small business

  • Research and planning.
    Before you dive in with both feet, it is highly recommended to come up with an in-depth, throughout plan of your business idea. This will make you familiar with the market and give you an idea if your business will fit the ‘in trend’ marketplace. Drawing up a business plan will give you the edge you need.
  • Seeking Help.
    If you find yourself struggling at some point do not be ashamed to seek professional help, this may even be your best option. Shadowing someone with experience will give you knowledge of the business world.
  • Your business location.
    Finding the right location for your business is key to success. You will need somewhere that brings in clients. Search for an area that fits your criteria, this will give you the extra mile over other businesses in your niche.
  • Funding your business.
    Every business needs funding, it is vital to the opening and upkeep. You can get help from family or friends, investors, capital firms, and government.
  • Figuring out the legal structure.
    For most this is the tricky part of the process. There are many ways you can go about forming the legal structures of your business, be sure to make yourself up to date with each one of them. Check your country's government legal structures.
  • Register your business.
    The exciting part, the part that makes it all sink in, register your business’s name. Once you are finished finalising the name of your business, then you are ready to register it with your government. You can do this by an online form or a meeting.
  • Register for state and local taxes.
    Everyone has to pay taxes, if not you could be sent to prison. As mentioned above, it is highly recommended to hire an expert for this part, just to make sure it is all above board and done correctly.
  • Creating your company logo.
    Another fun part. Logos are the face of the business, something clients will see first. Make sure it is eye-catching and draws people's attention. Understanding what your company is and what you want to achieve will give you the upper hand at this stage.
  • Website.
    Decide on a catchy website design. This is a place customers will visit often. Make sure it is jam-packed with information about your business. Make the function simple and understandable.
  • Social Media.
    Social media profiles will help people understand more about your business and give you the chance to promote it to, raking you in more customers in the end. Make sure they engage with people and share information that attracts people towards your company.

Why not checkout some more startup tips in the infographic below created by Designhill.

(Click to enlarge infographic)

10 essential key steps to starting your own small business

Article created by: DCP London Web Design


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