Four musts before starting your small business
We love working with small businesses. In fact, we almost exclusively work with small businesses here at Valiant. For us, it is a true joy to join motivated individuals as they dive in deep and make their dreams a reality.
We’ve opened a resort, built the front lines, created a barber’s digital presence, designed an art space, opened an online bakery, branded a business for your brand new home, and everything in between.
Most often we see the passion to launch a new idea, ready to dive deep. And we get really jazzed too. Rarely we see the excitement behind the smaller and very important details in launching a company.
Before you really begin your marketing and outreach plans make sure you have the necessary tasks completed so that your launch is smooth and successful. It’s not painful. It can be simpler than you think.
We spoke to Katie Leikam owner of Leikam Consulting, about four “musts” before launch. Katie is an expert business consultant with a career’s worth of entrepreneur experience.
Here are the simple and straight forward musts:
Make it legal: Register your company with the Secretary of State. Contact your accountant or attorney for directions as to what type of company to start, LLC, sCorp, etc. Register for a federal tax ID number. This may be the most complicated step but it is crucial it is correct from the start.
Separate your finances: take your articles of incorporation or brand new tax ID number and open a separate checking account. Set up accounting software. There are plenty of affordable options to choose.
Create a vision: if you don’t have a fully written business plan, have a direction and a vision. Make an outline of your major stepping stones and what it takes to get there. Opening your ice cream parlor may be a life long dream, but how do you get from an initial idea to the first scoop? Organizing your thoughts into a business plan will help guide you.
Know your message: know your value proposition and who needs to know it. You know why you want to open an ice cream parlor, but why do folks want to visit your parlor and buy your ice cream?
These four steps will provide for a great launch and pave the way to the more interesting part of your business, the actually brilliant idea. Contact Katie for one-on-one coaching through these crucial steps. When you are ready to take it on the road, we are here to champion your business towards exciting new quests.
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