A new year brings exciting possibilities. If you’re ready to start getting your very own small business off the ground, check out these quick tips that cover everything from choosing a business structure to hiring local employees.
Forming an LLC
For many small business owners, forming a limited liability company (LLC) is a smart choice. Rules vary from state to state, but by registering your company as an LLC, you’ll be able to keep your personal savings and assets safe and secure while gaining tax benefits. While you could hire a lawyer to manage the registration process for you, it’s easy to save money on this task by filing through an online formation service instead.
Pro-tip: Look into a Virtual Office Plan that offers business address and mail services which you can utilize on your LLC registration.
Creating a Business Plan
You’ve registered your company in your state. Now, you need to dive into the nitty-gritty details and outline a business plan. This might sound intimidating, but a business plan will be a valuable tool as you move forward and make big decisions for your company.
What do you need to include in your business plan? Vistage recommends jotting down an executive summary, financial projections, and a competitive market analysis. You may also want to outline potential philanthropic initiatives, such as partnering with organizations that are working to end homelessness in your town.
Finding an Office Space To Run Your Business
In today’s market, the cost of finding and leasing a traditional office space is astronomically expensive for a startup business. We also desire flexibility and the ability to be mobile, so a traditional office space simply doesn’t make sense. Work-from-home is sustainable for a little while, but at some point, you’re going to want a more hybrid work routine.
A flexible office space allows you to reduce occupancy costs and helps eliminate wasted resources. Choosing to work from a coworking space or leveraging flex office solutions like Virtual Office Plans allows you to work from a fully-furnished workspace (with IT infrastructure already in place) when you want at a fraction of the cost of leasing a full-time traditional office space.
Create Your Google Business Profile
As a small business owner, you may be wondering if it’s worth your time to create a Google Business Profile (GBP). After all, you’re already busy enough just keeping your business running. However, there are actually several good reasons to take the time to create a Google Business Profile. First of all, it’s free advertising. Your business will show up in Google searches, giving you exposure to potential customers who might not have found you otherwise. Secondly, a GBP allows you to control how your business appears in search results. You can add photos, descriptions, and even special offers to help attract customers. Finally, a Google Business Profile makes it easy for customers to find your contact information and directions to your business. In today’s competitive marketplace, any edge you can give your business is worth the effort. So, if you haven’t already created a Google Business Profile for your small business, now is the time to do it.
Marketing Your Business on Social Media
In today’s digital age, social media is an essential tool for promoting your business. With platforms like Facebook and Instagram, you can reach a global audience with just a few clicks. Set-up your business profile and start posting regularly on these social media platforms. Video is also huge right now, so learn how to create reels to maximize engagement and gain more followers. One of the most effective ways to get your message out there is by using memes. Memes are highly shareable, and they’re often designed to be humorous or thought-provoking. By creating a meme that reflects your brand identity, you can reach a wider audience and build awareness for your business. You can design a meme in minutes using a meme editor which allows you to customize your meme with your own font and images.
Hiring From Your Community
If you want to go the extra mile as a small business owner, think about how you can establish truly inclusive hiring practices. Chances are, there are lots of people in your community who are seeking stable employment, yet they’re concerned that no employer will give them a chance. You can be the person who changes their lives. To develop a genuinely inclusive hiring process, InfoMart recommends creating a simplified application process and leaving confusing jargon out of job descriptions. If you’re interested in hiring people who are struggling with homelessness or housing insecurity, get in touch with nearby shelters or community nonprofits that work with this population.
Many people prefer to patronize small, local businesses rather than spend their money at major corporations. If you want to make a positive impact on your town and provide more opportunities for residents, launching a small business is one of the best ways to accomplish this goal. By following these tips, you’ll be ready to register your company as an LLC, market your business, and build an amazing team from the ground up.
Written by Julie Morris (juliemorris.org)