A Must For All New Business Owners

Steps to starting your company from the name to your online fax service!

Have you decided to step away from the politics of the corporate world and start your own circle? You have done your research, you know that your product or service is something unique and you know that there is a need for it in the market you have chosen to target, so now what? Exciting times lie ahead! To ensure that you do not forget anything, use this simple 5 step plan to kick start your new business!

Well, you need to name your business. As unique as your product or service is, it needs to be identifiable by a name! When thinking about the possibilities for a name it is important to stick to something that is easy to spell and easy to say! You also want your name to allure and interest your clients. All of this could seem almost impossible! Don’t worry, if you think of something really simple for now and come up with something more suitable at a later stage, you can always change the name!

Once you have settled on a name, you need to purchase a domain name. To do this, simply visit GoDaddy.com and follow their process for a new domain name. Make sure that you select any extras that you might need, for example domain name variations. Once you have completed your selections pay for them to complete the process and this step! Other online services make communications easy – Googlevoice can provide you with one number that rings across several phones and online fax eliminates the need for that pesky fax machine!

Now, you need your business space. This is the unique address and contact numbers for your business. But what if I want to run it from home? This is fine, but do bear in mind that when your business grows too big for your home, you will need to find another venue or office and then you will have to change these details on all materials and documents for your business.

Once you have chosen your address and telephone number, you need an email account for your business. You can choose between a web based email or one supplied by hosting companies like GoDaddy, 1&1 or Yola. Web based email is available through Gmail or Yahoo.

Dealing with taxes and entities is not exciting, and could even be scary, but it is important that you set up an entity for your new business now. Do your research and decide on which type of entity you feel will suite your new business. There are corporations, general partnerships, limited partnerships, sole proprietorships and Limited Liability Company as choices. Most new business owners tend to choose to go with the LLC (Limited Liability Company) as they gain the same benefits as a corporation in the liability and as a partnership in tax treatment.

Once you have chosen the type of entity you want and set it up, you will receive your Employer Identification Number, this is the number you will need when you open up your business bank account or take out insurance.

Now that you have set up all the above, you are ready to start building relationships and generating a client base. What is the best way to do this? Well, there are always choices involved! There are two popular ways to generate your client base, let people know that you are available and ready to provide them a service or offer them a product!

The first one is email marketing. There are companies like MailChimp and Benchmark Email which have the knowledge and the set up to help you with an email marketing campaign which should generate results.

What about business cards? These small cards are reliable, and they serve a dual purpose! A business card which is interesting and professional is a very powerful marketing and networking tool! When you hand over a business card to someone, you giving them something physical to connect you and your company to them, and you are networking and marketing at the same time!

With the above steps and your professional, interesting business cards circulating the area you are targeting, all that is left to do is to provide the service or sell the product that you have!

For more information on setting up a new business visit www.ChooseWhat.com

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