Start your small business off on the right foot
Running a small business is no tiny undertaking. Between licensing, loans, registration and regulations it can be an overwhelming feat to form a solid plan of action much less find a solid place to simply start.
Lace up your best running shoes and assume your position at the starting line as we take you over the 6 most common hurdles you’ll approach as you build your small business.
On your Mark. Get Set. Go!
Hurdle #1 Getting Started
Your first few strides will take you towards the first hurdle: Getting Started. The most difficult hurdles are usually the first and the last. Keep in mind that once you clear the first, the only way to go is forward!
Before you have officially hopped over the first hurdle you will have taken the following steps:
- Decided on a business structure
- Chosen a business name
- Learned the necessary required licenses, permits or certifications
- Gathered information about a DBA certificate
- Obtained your Employee ID Number
- Registered your business as a taxpayer with the State
Read further on Getting Started and find links to valuable resources here.
Hurdle #2 Financing
Coming up with a concept for a small business may come easier than coming up with the capital to support it. Business loans may not be the most simple to come by, but funding options don’t start and end with loans.
More on other opportunities to find funding for your small business, like grants and bonds here.
Hurdle #3 Property & Locations
You may be calling your office space “Home, Sweet Home” during the first several months of starting your own business. The right location and property can be directly correlated with your success. Create a trustworthy network of real estate brokers, location consultants and development officials to be sure you’re literally making the right move for your business needs.
Read up on real estate here.
Hurdle #4 Licenses & Regulations
This hurdle may be the most dreaded of them all. Keep your head up while running towards Licenses & Regulations. This is the last place you want to stumble. You will need to understand all of the many licenses and permits that may be required for your business to to be legally legitimate.
Avoid tumbling over the Licenses & Regulations hurdle here.
Hurdle #5 Marketing Your Business
Enough of the grunt work, right? It’s time to mature your baby business through marketing and branding. Don’t be afraid to have a little fun with marketing! This is a hurdle you can skip to. Make your brand shine so bright it blinds your customers from seeing your competition.
Take our tips on Marketing Your Business here.
Hurdle #6 Growing Your Business
In a perfect world, once the doors to your business officially open, everyone from Lake County to Union County and everywhere in between would be lined up at your door. Growing your business may feel like a daunting task, but there are more resources than we can count that you can use to facilitate growth.
Find out more about continuous marketing tactics and ways to continue to educate yourself and your staff here.
Wanting to take it from the top? Sprint over to the BBB Small Business Help Center.