Six Things You'll Need to Plan for When Starting a Business

Kandace Heller

December 03, 2013

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Any time you plan to start a business of your own, understanding how to plan properly and efficiently is a way to save time while ensuring you have taken all of the steps necessary to begin generating revenue with ease. Knowing how to plan for a new business can help you appear professional while also allowing you to get ahead of potential competitors in any industry or market.

Filing Proper Paperwork

It is essential to file the proper paperwork to form your company whether you want to launch a LLC, S-corp, or a C-corp. Filing trademark and business formation papers legally is a way to protect yourself individually financially while also giving you the ability to receive business credit cards as well as business bank accounts. If you want to start a legitimate business with the potential for growth, you'll want your business to be legally recognized.

Get Your Finances in Order

Always having your finances in order and ensuring you have a budget for all aspects of your business is a way to stay afloat while moving forward in generating revenue from sales or advertising opportunities. If you are taking out a loan or you have savings you are putting into the business, make sure you properly budget for the necessities and try to avoid any extra costs until you are profiting. You never want to get in a position where you have an order and not have enough money for supplies to fill it.

Follow Your Business Plan

Be sure to stick with your business plan to avoid overspending or steering away from intended plans you already have in place. If something comes up and you find out another plan will work better, take a break. Re-budget and don't make any big moves until you have your new plan down on paper.

Offline Marketing

Offline marketing is important to gather local customers and to build your brand with billboards, posters and logos in print. Offline marketing can also include text advertisements as well as ads in television and on the radio. If you don't have a large budget for marketing, this could include things as simple as handing out fliers or placing advertisements on the back window of your vehicles.

Internet Marketing

Understanding small business marketing options also includes implementing Internet marketing, regardless of whether you are running a local business or looking to launch a global brand or corporation. Utilizing social media is one way to incorporate Internet marketing and it is also affordable and suitable for all businesses, big and small. You can start using a basic website and social media to share your product. Once you have those accounts in order, set aside funds to use SEO or a local marketing exchange to help you find the best techniques of getting your name out there.

Developing a Voice to Reach Your Audience

Develop a voice that is relevant to your audience and one that feels "real" when communicating online or off. Having a voice for your company is a way to avoid sounding too "corporate" or robotic when sharing news and updates or product releases for your brand. Know who your audience is and cater your dialogue to that group.

Preparing to launch any brand or business prior to doing so is a way for you to feel confident and comfortable with decisions you make for the company itself as well as financially. The more involved you are with the planning process of your company, the easier it is to take control and direction of how you want to run the business in the future.