Top 7 Essentials for Your Startup
Of all of the adventures life offers, starting your own business can be one of the most exciting and rewarding. If you are in the beginning stages of putting your startup together, it can be an exhilarating time. Before getting too caught up in the excitement, however, it is important to consider the work ahead. Indeed, having your own company can be a thrill, but it can also require a lot of effort. You can get a jump start on things by making a checklist of some essentials for your startup like the seven that are on this list.
What is in a name? Well, Shakespeare, the potential can be huge. Choosing the name of your future company, is the one of the most essential things for your startup. If you already have something in mind, ask yourself why you want to use that particular name. Make sure you pick something that makes sense but do not exhaust too much energy overthinking it.
2. Phone Number
No startup is official without having a business phone number set up. Think about the search results that appear when you search Google for a local store. Which listings do you lean toward first: The ones with working numbers or the ones without? If you are like most people, you gravitate to the places that look the most legitimate. Giving customers a way to call you can increase your legitimacy tenfold.
3. Well-Defined Legal Structure
How do you plan on handling taxes? How do you want the law to look at your assets? The answers to these questions can help you decide which kind of legal structure you want to incorporate (if any). Having a legal structure in place is necessary if you intend on earning profits and employing other people. Considering this early on is essential for your startup success going forward. If you have questions about this sometimes complicated process, it can be a good idea to talk to an attorney or accountant for assistance.
4. Domain Registration
The next item on your startup checklist should be registering a domain. A word of advice: Choose a domain name that matches your business name. Random words or long phrases can be confusing for customers, and you want to make sure people can find you online. It is also better to purchase your own domain rather than using a free website service that offers subdomains without a charge. Again, consider legitimacy. Businesses that use subdomains often appear temporary or fake.
Of course, domain registration alone will not get you very far. After all, what is a website name without having an actual site behind it? The next thing you need to do is create a website. This endeavor can be as simple or as elaborate as you want to make it. If you intend on having a large online presence with significant income coming from online channels, it might be useful to hire marketing and content writing professionals to assist you with this aspect of your startup.
What kind of company do you plan on running? Depending on the industry you are in and how big your startup is, you may need to invest in one or more forms of insurance. Consider issues like liability, property protection, workers’ compensation, and health care. Being an entrepreneur can come with many risks and responsibilities, but fortunately, there are also many options for protecting your investment. Think about all of the potential problems you may need to worry about. This is another area an attorney can help with. Then, choose the protection policies that fit your needs and are essential for your startup.
7. Business Cards
Maybe you think business cards have no place in today’s modern world, but that could not be farther from the truth. In fact, having a little piece of cardboard with your contact information on it can be a deal maker or breaker when it comes to connecting with potential customers or networking with potential business partners. How so? Simple: It goes back to appearing credible. Business cards are another way to boost your company’s legitimacy. In addition, this can be an easy and affordable way to spread awareness of your brand.
When entrepreneurs are just starting out, it can be easy to become lost between all of the excitement and the many things to do. To make sure you launch as smoothly as possible, create a checklist of these essentials for your startup, and cross them out as you go forward.