Nine initial and important steps to start
your small business...
Starting or maintaining a small business takes time, energy and money. However, if done right, the rewards can be incredible! To get started, there are nine basic considerations that may help you. MDzyn can help you with all of these steps, whether it's a simple resource that we provide, or the design and development of a website, we're happy to help you.
1. Create a Solid Business Plan
We have seen it time and time again. A small business calls MDzyn to help them define, design and promote their new business and establish a brand identity. Our first step is to learn about their business, goals and objectives. A good start is to review a business plan. More times than not, we're told that there is no business plan to refer to. Ooops! This is a critical step in setting a business up to succeed. Putting a business plan together may seem overwhelming, but it really doesn't have to be. A simple business plan is much better than no plan at all. MDzyn can help you put one together. Let's talk.
2. Brainstorm and Define Your Company Name and Tagline
Your business name and a tagline can create excitement and buzz and will be an important part of all marketing efforts. Once a name has been decided upon, it should be researched within government databases to determine that the name is in fact unique and "trade markable". MDzyn can provide direction for this. Let's talk.
3. Set Up Your Office
Although this seems like a "no brainer", many folks leave this step until the last minute and get caught at crunch time. Whether you're setting up a home office, or already have a building or space, there is more to it then you'd think:
-Phones
-Internet Access
-Other technology needs
-Furniture
-Signage
MDzyn has helped several small businesses with many of these needs, and we'd be happy to help you. Let's talk.
4. Establish an Employer Identification Number (EIN)
Even if you're not required to have an EIN, getting one is often a good idea. For one thing, it makes it easier to open a bank account in your business name and it will help keep your social security number private. It's just good business. MDzyn can provide direction and referral information on setting up an EIN. Let's talk.
5. Set up a Business Structure
You need to decide what type of company structure fits your needs best, i.e. Corporation, LLC, Partnership, etc. You can do this online or consult an attorney. MDzyn has found that the online options in the long run may or may not save money. A reputable attorney that specializes in this area can provide everything you need and you won't have to be frustrated by the web of confusion that an online service may provide. MDzyn can provide direction and referral information on setting up your business structure. Let's talk.
6. Open a Business Bank Account
The advantage of having a business identity is that it keeps your business finances separate from your personal finances. There's just no better way to do that than to open a business checking account. Most banks will want you to have an EIN before they will open a business checking account for you. MDzyn can provide direction on setting up your business bank account. Let's talk.
7. Create Your Business Logo
A good logo goes a long way in establishing your business identity. Your logo should reflect what your business does. It should be unique, eye-catching and easy to identify. A mix of business savvy and creativity position MDzyn to create a professional logo that you'll be proud of for years to come. Let's talk.
8. Order Your Business Cards and Business Stationery
A business card is often your first – and sometimes only – impression on a prospective customer. You need to take advantage of the opportunity and create business cards that reflect your brand identity in a positive and informative light. So many businesses make the mistake of cutting corners on their business cards, and they are truly missing a huge and cost effective opportunity to make an impression. MDzyn can design and produce cards that allow an impressive first impression. We will then carry over that design into whatever business stationery you need. Let's talk.
9. Establish an Online Presence for Your Business
A presence on the web is no longer a luxury, but rather a necessary component/tool in establishing a reputable and successful business. Even the most basic of websites can work well as an online brochure. Or, you may need a more comprehensive and search engine optimized site to drive traffic to your products and services, and/or an e-commerce solution to sell your products and/or services from your site. You may also decide to set up a blog for your business - either in conjunction with, or instead of a business website. MDzyn will help you "figure out" what type of online presence best suits your company's needs and goals, then we'll design and build one that clearly supports and promotes your established brand identity. Let's talk.
Once you've completed these basic business identity steps, you will have effectively "hung out your shingle" for starting your home business. You're bound to make adjustments from time to time - that's all part of having a small business. But a big hurdle will have been cleared and you can begin making money under your business name.
Our "Start me Up" package might be a good start!
We'd love to be your partner in the journey. Let's talk.
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