Starting a business is a life-changing event that can either bolster or hinder your financial and professional success. Many would-be entrepreneurs have a great idea for a product or service, but become intimidated or uncertain of the details needed to launch their new venture. If you are considering starting your own business, then review these three tips below:
1. Ask Questions and Do Research
The Small Business Association (SBA) recommends that potential business owners ask these 20 questions before starting their business. The questions, including “Will I need a loan,” and “Who is my competition,” prompt potential entrepreneurs to think critically about their funding, marketing, potential customers, and more. These questions will give you a more realistic vision of whether your business may thrive.
2. Write A Business Plan
A business plan is a document that helps keep the business owner, investors, and executive employees on track for the first three to five years. Having a formal business plan can make it easier for a new business owner to receive funding and to share their vision with new hires. The plan outlines in depth how the company will be structured, managed, and funded and how it will market itself and grow revenue. For more information on drafting a business plan, visit these guidelines on the SBA website.
3. Take Care of The Details
Before your business is up and running you’ll need to determine your legal structure. There are a variety of ways to structure a business including LLC, corporation, and non-profit. New business owners will also need to register for state and federal taxes, and obtain a tax ID number plus any state or federal licenses and permits. To handle your finances, you’ll need to set up a merchant account with your local bank. If you plan to accept payments online, then you’ll want to partner with a PCI-compliant vendor who can securely process transactions.
When starting a new business, you can outsource your incoming calls, appointment setting, and even order fulfillment to a trusted call center. Contact One Call Center specializes in supporting small businesses and organizations with top-notch customer service. Learn more by calling (800) 278-3347.