Skip to main content

Steps to starting a new Business


Steps to starting a new Business
1. you need IDEA (Idea innovation)
Thinking of starting a business the first step is to develop an idea .
You need to come up with an ideal, that is workable, realizable,and achievable, an ideal that fits your person that you can work on or that you are ready and willing to develop yourself on.

2. You need to state out your goal(s), aim and objective (what to set to achieve)
You must state out your, goal,vision and mission ; as you continue and grow in business there would come many distractions, if you do not clearly state out your goals, mission and vision,you might loss focus and deviate from your original idea /reason for starting the business

3. Set up a plan for your business to succeed
every business need a workable plan, or call it a your strategy. Having stating out your aim, goals and objective you need a plan to make it work. This is called a business plan ,it is very important, you can tell if your business would succeed if this is properly carried out.

see below for more on business plan
https://www.sba.gov/starting-business/write-your-business-plan
A good business plan should contain

  •   Executive Summary

    Your executive summary is a snapshot of your business plan as a whole and touches on your company profile and goals. Read these tips about what to include.

  • Company Description

    Your company description provides information on what you do, what differentiates your business from others, and the markets your business serves.

  • Market Analysis

    Before launching your business, it is essential for you to research your business industry, market and competitors.

  • Organization & Management

    Every business is structured differently. Find out the best organization and management structure for your business.

  • Service or Product Line

    What do you sell? How does it benefit your customers? What is the product lifecycle? Get tips on how to tell the story about your product or service.

  • Marketing & Sales

    How do you plan to market your business? What is your sales strategy? Read more about how to include this information in your plan.

  • Funding Request

    If you are seeking funding for your business, find out about the necessary information you should include in your plan.

  • Financial Projections

    If you need funding, providing financial projections to back up your request is critical. Find out what information you need to include in your financial projections for your small business.

  • Appendix

    An appendix is optional, but a useful place to include information such as resumes, permits and leases. Find additional information you should include in your appendix


Step 1: Write a Business Plan

Use these tools and resources to create a business plan. This written guide will help you map out how you will start and run your business successfully.

Step 2: Get Business Assistance and Training

Take advantage of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business.

Step 3: Choose a Business Location

Get advice on how to select a customer-friendly location and comply with zoning laws.

Step 4: Finance Your Business

Find government backed loans, venture capital and research grants to help you get started.

Step 5: Determine the Legal Structure of Your Business

Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative.

Step 6: Register a Business Name ("Doing Business As")

Register your business name with your state government.
Learn which tax identification number you'll need to obtain from the IRS and your state revenue agency.

Step 7: Register for State and Local Taxes

Register with your state to obtain a tax identification number, workers' compensation, unemployment and disability insurance.

Step 8: Obtain Business Licenses and Permits

Get a list of federal, state and local licenses and permits required for your business.

Step 9: Understand Employer Responsibilities

Learn the legal steps you need to take to hire employees.

Step 10: Find Local Assistance

Contact your local SBA office to learn more about how SBA can help

 https://www.sba.gov/starting-business/how-start-business/10-steps-starting-business

Comments

Post a Comment

Popular posts from this blog

Having issues with writing cover letters?

Good day, young Job seekers! I trust we are doing great today. It's nice to be taking you on this journey today, I am Judith and I would be dropping some points on COVER LETTER! Whose excited? Quickly,  what is a COVER LETTER? Hmm... A Big question if you ask me, but in simple terms, a cover letter is letter that covers, I.e it gives details about the undercovered aspects or areas of your cv or resume. Let me add that recently I found that resumes are not only for the purpose of job searching but that's a topic for another day. So back to our discussion, "cover letter", I said a cover gives details of your resume, you want to talk about the wonderful things and why you are the best for the job,  a cover letter is a place to do it, you can either make or mar your chances of getting "that job/appointment by your cover letter. Your would-be employer "meets" you before he meets you via your cover letter. More often than not your cover letter gives a vivid...
2 comments
Read more

23 Interview Dressing Tips

Going for an Interview Dressing for the interview is another important aspect of any interview, it is where you get to show yourself how ready you are for work, besides, your dressing leaves the first impression with the interviewer(s) as you might not get the second impression to prove otherwise. Therefore, these should be noted. All clothes should be neatly pressed. Conservative two -piece business suite (solid dark blue or gray is best). Clean, polished, conservative shoes. Clean and well groomed hairstyle. Clean, trimmed fingernails. Minimal cologne or perfume. Empty pockets, no bulging pockets. No gum, candy or cigarettes. Phone must be silenced or switched off. For Men Necktie should be neat with a conservative pattern. Dark shoes (black lace ups are best) clean and polished. Dark socks (black is best). Short hairs are best in interviews. Beards, mustache should be kept neat and trimmed. No earrings. No heavy cologne. For ...
Post a Comment
Read more

Welcome

You are welcome! Good Anointing is a blog of a consultant firm called Anointed consult. It's goal is to educate the public and interested persons on how to start, manage and grow a new business or existing one. We would continually provide you with information that would aid your start ups, alongside with business tips.  please feel free to ask questions about any issue you don't understand related to the topic,post or business. Error: Embedded data could not be displayed.
Post a Comment
Read more