How to build a new business in a few simple steps

How to build a new business in a few simple steps

Discussion in 'E-Commerce & Payment Systems' started by David1989, Jun 10, 2015.

  1. David1989

    David1989 New Member

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    Can you be successful in your new business just by following few simple steps?
    This single article will contain basics for opening your own business...Do you want to know them?

    The sole purpose of this article is to explain these few simple steps of opening your new business...
    Ready??

    Simple step 1 - Business plan

    First thing to do is you are opening a new business is to make your own business plan.Don't just plan it, do it..Start making your business plan today.What you need to include in your business plan are objectives and goals that will make your business successful.Basic requirement is still going to be money,so if you are looking for a loan or someone to fund you business first thing you will need is a good business plan.It will not only help you if you are trying to find a sponsor, it will help you keep track of what you are doing and what is to be done later in the process.

    Simple step 2 - Business structure

    First is to set up you legal business structure.If you want credibility that is what you need to do, and it will also help with tax benefits.Setting up a legal structure will also help protect you business from debts.You need to get EIN or Federal Employer Identification number.Business that hire people need to have that number.

    Simple step 3 - Web presence

    You will need to acquire business licence before beginning any operations for your business.Businees licence and all that is needed is provided by company corporation for identification specified for your business activities.Presenting your business on the web is a base for online market.So basically this is the number one thing to do if you want you business to be successful.Make your website to be memorable to your customers and people that visit it, and make it evolve around your products and services.

    Simple step 4 - Other important factors

    -Build your business collateral.Use letterheads or cards, that is what all business these days use.
    -Open a new bank account for your business.Best thing is to make it separate from you personal account so that you business assets are segregated from your personal assets.
    -Get some people in your circles that you can ask for advice when needed.There are attorneys, mentors, advisers or board of directors who can help you with some big decisions.You can also meet with some successful business owners that are willing to help you with your problems.
    -Following government rules is good for keeping your company's goodwill.If you want your business to function smoothly you need satisfy ongoing legal requirements of the state where you run your business.

    What do you all think about this? Does anyone have anything they would like to add?
     
    Last edited by a moderator: Jun 11, 2015
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  2. sam.hunt0710

    sam.hunt0710 Moderator

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    Thanks David for sharing your thought about how to open a New business , it will help Newbies a lot.
     
  3. David Ewen

    David Ewen Member

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    Agreed with all. As for the web presence, I would put focus on Social Media and plan on using HootSuite to provide aggregates to Facebook, Twitter, LinkedIn and others. Facebook and Twitter are commonly seen as representing businesses. You see that on ads, commercials, and business cards. The web presence must go beyond that of a website. But again, all that you mentioned is absolutely phenomenal.

     
  4. fern2x2001

    fern2x2001 New Member

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    Thanks for the list and i believe these are all important in starting a business. But my question is, what about the product?! I believe if you intend to "last" in the business that you are planning to put up, you should prioritize first the product that your going to sell to people. It could be an item or food or skill or information and the likes. How are you going to market it?! What is your target demographic?! Is your product seasonal?! Is it for everyday consumption that people would tend to buy it in a daily basis?! etc. After all, if it's a business, it's the product that is the main reason the business is getting income. And of course, with the help of all the things mentioned in this list :)
     
  5. IMpossible

    IMpossible New Member

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    I know businesses ain't that easy as we begin with but If I or whenever I start a business, I always make countless hours of brainstorming and why I ever started it from the first place.
    I put "helping others" as the center of my work. My scope is not to earn income (of course we need it primarily) but I treat it as a side effect of helping others and working hard for them.

    If one would work out of concerning it's impact to the majority and how we can contribute to bringing better lives, It will give us more probability of a success.

    I really hope I made my point here :)
     
  6. Kayel

    Kayel New Member

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    Thank you for sharing! Also, we have to put in mind that business is still a "gamble" one way or another. It may not result to how we are expecting it to run for the first few months but, we have to stay positive and focus on our goal. Just don't lose hope until we get a hold of what outcome we wanted.