- Choose your legal business structure: You need to decide what type of entity your firm is before you register it. The business structure you choose will have an impact on many aspects. This includes your business name, your liability, and the way you file taxes. Your small company can be either a sole proprietorship, a partnership, a limited liability company (LLC) or a corporation.
- Pick and register your brand name: You’ll want to pick a name that is original and not used by others. A name that reflects your brand and captures your spirit. A business owner must register the name of his business either with his federal government or county clerk.
- Apply to get licenses and permits: When you start your own company, paperwork is an important part of the operation. Throughout the start-up cycle, you may need to evaluate which licenses and permits are applicable to your company.
- Open your bank account: A small checking account for businesses will help you cope with financial, tax, and day-to-day problems. The bottom line is, if you have the right registrations and paperwork ready, it’s easy to set up one.
- Build Your own team: It’s time to start the hiring process. Take the time you need to clarify the roles that you’ll have to fill and the work duties part of each job. This is unless you are not planning on hiring any employees and planning on being a Solopreneur hitting the business road alone.
- Promote and grow your business: When the company is fully operational, you need to start attracting customers and clients. Collaborating with more developed brands is a perfect way to achieve growth and success in your industry.
The best thing about owning your own company is having you decide what you’re doing and where you are going to expand. Keep yourself happy and your customers happier.
References: https://www.sba.gov/business-guide/10-steps-start-your-business/
https://www.businessnewsdaily.com/4686-how-to-start-a-business.html#determine
