Starting a Business
Well, starting a business is definitely a difficult task that. And you’re probably going to lose a bit of your hair, but in the end you’ll have something that you can be proud of.
Jorge and one of his friends are in the process of starting a T-Shirt design company, so he wanted to document everything he learned about starting a business. He also interviewed Anastasia Butler from Sustainable Law Group to get some pointers. Thanks Anastasia!
Starting your Business
by Jorge Guevara
What is your purpose?
What purpose does your business serve? Knowing what problem your business is solving is crucial to its success. You have to know whether or not people are willing to pay for your product or service. Ask around and see if the people around you think your idea is reasonable. By no means should you quit if everyone tells you it’s a bad idea, but it is important to take into account others’ opinions as well.
What kind of company are you?
The many companies that exist in the world are the ones that are allowed to exist by the consumers. There are a few company types out there and you have the pick of the litter…company type wise. If you are just starting out, then you are most likely going to be a sole proprietor or LLC. Sadly there are no cats involved. Use this tool from the SBA to get you to a place where enlightenment can be found. Come back once you understand.
What’s your name again?
Yeah, you have to make official. It’s the only way to really make it yours. You will have to get registered at your nearby registration office. But I wouldn’t recommend trying to call yourself Nike… I think it’s taken.
What do you need?
Now that you know what it is that you are doing make a list of all the things your company is going to need. This includes items needed to make your product, a website, or things needed to make your company great. Like a sweet new suit(or dress)… well maybe once your company kicks off a bit.
Make a website/ start your social media
If you’re not online, you’re not anywhere. In fact you are reading this on our very own website. Having a presence online is crucial to getting your message to other people. Especially because other forms of media no longer work like they used to.
Find your market
Look at who it is you’re selling your product or service to. This is crucial for knowing where to position yourself. Once you know who your client is, then you know where to focus your efforts. Customer discovery is one of the most important steps in creating a successful business. It allows you to know if the people you plan on selling to even want what it is that you offer. If they don’t, then you’ll probably want to find a new market or consider changing your idea into something that people are looking for or want.
Get some partners
The road to success can be lonely, so find yourself some willing individuals who have faith in your company. People whose goals align with yours are perfect candidates. Not only this, but letting other people take some of the work can help you from getting exhausted with all your work.
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