Having your own business, or running a business with someone else, is no easy feat. No matter your tenure and hands on experience in doing so before and repeating a successful formula, or starting your very first one. Regardless of if you’re going out into the unknown alone, and you are your business, or your goal is to hire a team as soon as possible, there are some foundational elements to consider as part of basic and necessary infrastructure to get your business off the ground from just an idea, to a profitable and healthy organization. The list of things that need to be done and managed is seemingly endless especially when you’re starting out, so this is by no means exhaustive, but hopefully are some ideas to consider bringing into the fold:
Marketing can feel scary and daunting, even if you do know what you’re doing, but it is also an area that’s fun and where creativity can take shape and bring real results to your top and bottom lines!
- It’s a rarity for a business to sustain itself without a steady and healthy influx of customers and clients, which usually comes from some type of marketing. Word of mouth, digital marketing, radio ads—depending on your type and size of business, you may benefit from typical marketing techniques like billboards, radio commercials, bandit signs and the like. Newer varieties of marketing platforms come to us by way of social media and the reach of the Internet. Websites can track your visits and show ads to other sites and platforms you use and visit. While it used to be offensive and feel invasive, now it’s actually quite useful and practical, as it’s tailored to each person. Marketing can feel scary and daunting, even if you do know what you’re doing, but it is also an area that’s fun and where creativity can take shape and bring real results to your top and bottom lines!
- Accounting and legal. Having a trusted person or company doing this area of your business that has the expertise and experience that you don’t can make or break your business from the start. Many try to keep up with it at first, then it gets to be overwhelming quickly, not to mention all of the tax laws and the annual changes to keep abreast of. Filing in different states, ensure you’re doing everything for the correct tax code alignment as well as accounting and legal contracts, it can be overwhelming and intimidating, to say the least. It’s near impossible for the average person to do it all correctly and in a timely manner, so it’s best to outsource this to a trusted partner. The right people will be patient and take the time to go through everything with you, as well as take time to educate you on changes and how to make the best decisions for yourself, your business and employees, if you have any yet.
- Get a PO box, and don’t use your home address for your business. No matter what type of business you’re in, it’s more advantageous and safer to use a different address than your own home for your business mail and business contact information There are registered agents that can handle this for you, or you can simply utilize the post office or other businesses that offer PO boxes & similar services to receive your mail, and have a measure of safety for yourself and your family. Choose a location that is convenient for you to check your mail and receive packages, and that has business hours and other services that work for your needs! Check this out for more info: https://ipostal1.com/po-box.php!
No matter your industry or business size, chances are you can benefit from something of the above list, or it might give you something to consider for future businesses when it’s time to set up your next project. Starting and running a business, no matter the size, is a challenging feat that is full of rewards and adventure, for people involved from the owner to employees, clients and customers and partners. Running a good business is full of learning, trying new things and constant input from you.