Your Small Business Start Guide
Getting Your E-commerce Small Business Off the Ground
Too often, new business owners go all-in with little to no planning, only to find themselves struggling with everyday tasks and long-term prosperity. If you have an idea and you’re interested in starting a small business, you need a plan.
Steps to Successfully Launch a Small Business
Here are seven recommended steps to successfully starting a small business.
- Find your passion.
Before you start to look at business ideas, it’s essential to know what you enjoy doing. Start by considering what topics make you happy, what you have experience in, and the type of lifestyle you want to live. Not every business allows for flexibility and freedom initially, so it is important to know if that is what you want from day one.
- Research business ideas.
After you identify your passion, brainstorm a list of small business ideas on paper or electronically. When creating a new business, look to offer a solution for an everyday problem that your target audience struggles to manage.
- Create a business plan.
Creating a business plan is a crucial part of establishing a business that can handle growth. It outlines where your business will start, steps you will take to grow, and ways to find clientele. Once owners reach these goals, they create new business plans for the next chapter in their business. Some business plans cover the first five to ten years.
- Know where funding will come from.
Most businesses require some capital or funding to start. Your funding options include your savings, finding investors, small business grants, crowdfunding sites, and traditional loans or credit lines from local banks. Each has its advantages and disadvantages, and all options must be reviewed and compared before settling on one funding source.
- Take care of the legal requirements.
Tackling all of the legal paperwork early on makes the process a lot easier when it comes to finding investors, marketing, and establishing a local presence. Some essential items to finalize include choosing a business structure (LLC, partnership, or corporation), applying for a tax identification number, claiming your business entity and any DBA names, applying for permits and licenses, and opening a bank account. If you are unsure how to maneuver through these items, it is a good idea to work with a trusted business lawyer.
- Find your domain name.
Finding the right domain name is crucial, especially for E-Commerce businesses. You will want something that reflects your brand and is easy to remember. The biggest struggle businesses face is finding an available URL. Begin your search using an online domain service to see what options are available for purchase.
- Utilize local courier services.
If you plan to ship anything or have anything delivered, you need to find a shipping solution that works for the business as well as your customers. Instead of working with a big shipping company, many start-up businesses choose local courier services for their flexibility and lower costs. Many offer same day shipping, flexible pickup times, and deliveries 365 days per year.
Econo-Courier has 47 years of experience and offers local courier and shipping services. Contact us today to learn how we can help you grow your small business.