Important checklist for business startups
CONGRATULATIONS! You are here because you want to start up a online business that runs successfuly. It's that time where you break down the process of launching your online business into manageable chunks. Don't just go through these valauble points, remeber to take ACTION!
1> Create a business plan
Creating a business plan with financial projections forces you to think through details. Keep your plan a living breathing thing that you revisit and adapt regularly.
2> Figure out the money
Most startups take a lot more time to get off the ground than you expect. Know where your living expenses for the first year will come from (savings, a job, spouse’s income, etc.). If you need financing for the business start investigating as soon as possible.
3> Choose a business name
You want a name that will stick in your target audience’s heads. And it shouldn’t already be taken by another company. Do Google searches and use a corporate name search tool to see if the name you have in mind is unique.
4> Register a domain name
Get a matching domain to your business name. An AOL email address or a website with free hosting and a name like mysite.wordpress.com makes it seem like either (a) you are not running a real business or (b) you don’t plan to be around long.
5> Apply for an EIN
An Employer Identification Number (EIN) helps you separate yourself from your business. You’ll need it if you plan to incorporate your business or open a business bank account. Plus, with it you can avoid giving out your social security number (an opening to identity theft).
6> Set up a website
Get your website up and running as soon as possible. Today, it’s necessary for credibility. Even if your product is not yet built, you can start with company information.
7> Register social media profiles
Getting set up on the major social media channels (Facebook, LinkedIn, and Twitter, to start) will make marketing on them later easier. Also, it’s important to reserve your brand as a profile name.
8> Register social media profiles
Getting set up on the major social media channels (Facebook, LinkedIn, and Twitter, to start) will make marketing on them later easier. Also, it’s important to reserve your brand as a profile name.
9> Start your revenue stream
Start generating revenue as soon as possible. At the early stages of a startup there is never enough money – resist the temptation to wait until things are “perfect.”
10> Open a business bank account
It’s all too easy to use your personal bank account to pay for business expenses, but it becomes a gnarl to untangle later.
Organizing what needs to be done before you launch and what you can take care of down the road makes it easier to prioritize your tasks.
Recent Comments
1
This is very good advice . There is no difference between bricks and morta and online business when it comes to planning and compliance
. Sometimes we for get that ,thank you for the reminder Ifrah .
Alexander