Tips For Starting A New Business
Know what to expect so you can launch your company and generate revenue.
- Get the right software: Do your research to invest in technology that helps you to stay organized, communicate with customers, track finances and promote your services. Be sure you and your team have the equipment and software needed to work fully remote, as needed, including video conferencing apps. You may also want to consider updating your website to include scheduling tools or remote chat features like those offered by Nexa Receptionists.
- Invest in marketing: An effective marketing strategy will help you to bring in new clients and raise awareness about your brand. Your marketing strategy should detail elements such as customer personas, posting schedules and goals. Establish your brand on social media and invest in tools to help you manage multiple platforms to hit the ground running. Consider hiring an individual to manage your accounts.
- Have a business financial plan: According to a recent Forbes article, business plans “should include an executive summary, company description, market analysis, management team overview, organizational structure, product/service descriptions, operational details, financial projections, and statements.”1 It may be wise to work with other professionals to strengthen your business plan and avoid future setbacks. In addition, you should have systems you can rely on for financial reporting, budgeting and revenue tracking.
- Get support: Determine if you will hire independent contractors, employees or outsource services to support your business growth. Fully educate yourself on payroll taxes, compensation plans and financial record keeping. Understand which employee benefits may be required, including unemployment insurance, leave benefits, disability insurance, workers’ compensation and social security taxes.2
