Now is the perfect time to start a business.
Building a business is like a building a house… you need a foundation. You can change the kitchen, bathroom, paint etc but you never touch the foundation. Without a foundation, the house will fall apart. The same mindset with your business. You can always change attributes but the foundation should always remain in tack.
Please also remember you can always have more than one business. I just want to get you started in the right direction.
Ok now…. let’s get down to business with how to start a business on a budget.
- What business do you want to start? Many people have different talents, passions and expertise. There are many business ideas to choose from. Decide what kind of business you want to start. If you do many different things, let’s be safe and start a CONSULTING BUSINESS. Cost to think: FREE
- Name of business. Every business has to have a name. Think of several names and decide on the best one. One thing I always do for my clients Business Foundation is explore different names and check to see if there is a company that has the name already. Also do a state name search for the business name. Cost to search: FREE
- Create a LLC. Register the business with the state that you are in. Please check your state registration requirements of a LLC. You can have single member LLC, this way you can separate your business from your personal. You can also add members to the LLC. Cost to Create LLC: Between $90-$150
- Business Bank Account. Some people think that you are not in business until you have a business bank account. Take your documents from creating a LLC and set up a business bank account. Some bank have special accounts for small business. Contact your bank and find out the details. Cost to Open Bank Account: $100.
- Secure domain. Once you search and check that the domain is available, secure it! Some hosting sites give a free domain with hosting plan. I use InMotion. You may not want to do a website now, but it makes sense to get on the internet with your business. Show the world who you are! InMotion works with WordPress to make your presence on the web an easy task. Cost to Secure Domain: $96.00(also get easy website setup)
- Business Email. To identify business from personal in communication you must having the email of the business. Your name@your business.com. Having this will make it look like you mean business! With InMotion hosting, they give you the business email included in the price. Make sure you look professional as possible when someone is requesting your business. Cost of Business Email: FREE(with InMotion plan). Google also offers GSuite Business account for $4.99 a month.
- Business Phone Number. I set up my clients with a google voice number. Sign up for google email with business email@example.com. Once you have that, then you can request Google Voice number. This is a great way to separate calls from your business and personal phone. Download the Google Voice app for easy functionality. Cost of Google Number: FREE
- Register with Duns & Bradstreet. Once you register your business with D & B, you can start to build your business credit profile. D & B is like Transunion of personal credit. Companies report how you pay them and others look for this score to extend credit to you. Some companies work with small business to build their profile. We build credit profiles for our clients. Register with D & B: FREE
- Build Business Credit. If you have a 700+ score and low credit utilization, you can apply for business credit. We fund new LLC’s up to $250K. Business credit does not show up on your personal credit! If you don’t have the requirements, there are other ways to build business credit. Click here for Free Consultation.
- GET STARTED!!!! What are you waiting for! We can get you start for under $500 this includes state filing fee for LLC. Don’t let another year go by and you don’t have you your business. Bring your small business ideas to life!
Who else wants to start a business in 2019? Contact us today!