10 Item Checklist to Starting A Business
Starting a business can be a daunting task, especially for someone who has never done it before. There are numerous steps involved, from registering your company and creating an LLC to setting up a bank account, getting bookkeeping services, building a website, creating a business plan, thinking about revenue models, and creating a pitch deck to acquire new business. It can be easy to get overwhelmed and feel like you don't know where to start. But fear not, with the help of software starting your own business can be a lot easier than you might think.
1.Register your company and create an LLC
The first step in starting a business is to register your company and create a Limited Liability Company (LLC). This step is essential to protect your personal assets in case of any legal or financial problems. Legalzoom or Doola are great resources for registering your company and creating an LLC. They offer affordable packages to help you get started and take care of all the legal paperwork for you. There are also great resources to read further into if you are considering a C corp, S corp or other entity type.
2. Set up a bank account
Once you have your company registered, you'll need to set up a bank account. This will help you keep your personal and business finances separate, making it easier to manage your money. Most banks offer business accounts, so shop around and find the one that best suits your needs. Mercury Bank offers fee-free business banking services, including checking and savings accounts, as well as integration with popular accounting software like QuickBooks and Xero.
3. Get bookkeeping services
Bookkeeping is an essential part of running a business. It involves keeping track of your finances, expenses, and income. Quickbooks is a great tool for small businesses and startups, as it allows you to manage your finances easily and efficiently. They offer a range of services, from basic bookkeeping to more advanced accounting and payroll services.
4. Build a website
In today's digital age, having a website is crucial for any business. It allows you to reach a wider audience and showcase your products or services. Squarespace is a great tool for building a website quickly and easily. They offer a range of templates to choose from, making it easy to create a professional-looking site without any coding knowledge.
5. Create a business plan
A business plan is a roadmap for your business, outlining your goals, objectives, and strategies. It's essential to have a solid business plan in place before you launch your business. Sequoia Capital provides a great article for creating a business plan. They offer a range of templates and guides to help you get started, making it easy to create a comprehensive plan that covers all the important aspects of your business. If you prefer video, Y combinator’s Startup School has great resources as well.
6. Think about your revenue model
Revenue models are the strategies you use to generate income for your business. There are various revenue models to choose from, depending on your business type and industry. Hubspot is a great resource for learning about revenue models and choosing the right one for your business. They offer a range of guides and resources to help you understand the different types of revenue models and how to implement them. Hubspot is also a great option for a free CRM tool.
7. Create a pitch deck
A pitch deck is a presentation that outlines your business idea and strategy. It's an essential tool for acquiring new business and securing funding. Canva is a great tool for creating a pitch deck quickly and easily. They offer a range of templates to choose from, making it easy to create a professional-looking presentation without any design skills. Pitch and Tome offer great resources and include AI tools if you are not sure where to start.
8. Use Asana to manage your tasks
Asana is a great tool for managing tasks and projects. It allows you to collaborate with your team and keep track of deadlines and progress. Using Asana can help you stay organized and focused, making it easier to achieve your business goals.
9. Determine your target market and customer base
Knowing your target market and customer base is crucial for the success of your business. It's important to understand who your ideal customers are, their needs, and how you can best serve them. Conducting market research and analyzing customer data can help you determine your target market and customer base. Hubspot and Canva offer various resources on how to conduct market research and create customer personas.
10. Consider getting business insurance
Having business insurance can protect your business and personal assets in case of unexpected events or accidents. It's important to assess the risks associated with your business and determine the type of insurance coverage you need. Legalzoom and Quickbooks offer resources on how to choose the right type of business insurance and how to get coverage.
Starting a business is an exciting and rewarding journey, but it can also be challenging at times. However, with the right tools and resources, anyone can turn their business idea into a successful reality. Remember to stay organized, set achievable goals, and take advantage of software and technology that can simplify your tasks and streamline your operations. Don't be afraid to seek help and advice from experts in the industry, and keep learning and adapting as your business grows. With perseverance and hard work, you can build a successful business that you can be proud of. Best of luck on your entrepreneurial journey!
Visit www.hardycap.com for more resources or contact us contact@hardycap.com. We are happy to answer any questions.