How to Start Your Own Business
Why Start Your Own Business?
Working hard at a company used to lead to promotions and job security, but now more than often results in job loss for an unfair reason like outsourcing. Wouldn’t it be great to work your hardest for yourself and ensure your job security? You can achieve this by being your own boss and starting your own business. This also will likely come with rewards like a pay increase, convenience of working on your own schedule, and control of work responsibilities. Managing your own business helps you reach financial stability and live the life you've always wanted. It might be time to follow your dreams, or at least set plans in order to do so later.
In this age, we are seeing outsourced jobs and corporate mergers at an alarming rate. Corporations are merging and acquiring each other at an alarming pace, which hasn’t stopped even though the Sherman Antitrust Act exists. Since corporations are merging together now there are even less competitors than ever before. Due to these acquisitions and mergers, it’s left the market relatively empty with plenty of market share up for grabs! It has never been more important or beneficial for entrepreneurs to start their own businesses. Take advantage of this position as well as working towards the American Dream.
Love the Work You Do
It’s helpful to have previous experience from a reputable company or interest in an industry you’re passionate about. That way you can learn from professionals, understand the industry, save to start your company, and most importantly - love the work you do. This will also give you time to create a business plan and transition smoothly into your own company. Make sure to know exactly what product or service you want to offer and begin doing research. It is wise to benchmark the competition, calculate the startup costs and learn the skills associated with operating the new business. You can get more tips from The Lean Startup to see other costs associated.
Starting a business comes with some financial costs, and you may need help marketing your product or service. There are many ways to build wealth so that you can stay financially secure while beginning your business. It can be very beneficial to find people you can trust that have the essential skills and capital to be a part of your business. Just make sure they’re willing to work as hard as you! Marketing comes into play heavily when starting and operating your business. It is important to develop a unique business name, strategy, logo, brand colors, and content. There are few marketing agencies like Citypeak Marketing who will help with every marketing step to get your started quickly. Once you become an established business, get your website designed, create a social media presence, enhance your SEO, and begin advertising. There are more specific marketing strategies depending on your needs and business industry. Day-to-day business activities are time consuming and reaching success can be very difficult without marketing experts. At Citypeak Marketing we offer some of the lowest prices in the industry to especially help those businesses who are just starting. Here is a checklist to get your business started:
Checklist for Getting Started
1. Define Product or Service: Choose what you will be offering to customers.
2. Name Your Business: Explain what you are offering and be creative!
3. Choose Company Type: Sole Proprietorship, LLC, Corporation or Partnership.
4. Check Name Availability: Search within your Secretary of State’s (SOS) Official Website.
5. File Articles to Form: On the same SOS website - fill forms and pay business fee.
6. Gain Protection: To secure your invention file a Patent. To secure ideas file Trademark or Copyright.
7. Hire a Marketing Agency: Citypeak Marketing can assist you with all of these logistics and bringing it to market. Investing in marketing early on is very beneficial to create growth.
8. Develop Sales: This is when you will start earning revenue for your business. You will need to determine who your niche market and buyers are. Then you will start getting product orders or consumers to service. It is best to apply minimal risk practices by making safe judgment calls.
9. Increase Sales - Build Brand Awareness: With the assistance of a marketing agency, you will use marketing strategies to increase your sales. Digital marketing like Search Engine Optimization (SEO), social media, and Paid Per Click (PPC) are all ways to build your brands recognition.
10. Maintain Sales - Create Relationships: This is important to ensure you will continue making monthly revenue. Once you've created more brand awareness, now you have the opportunity to make sales that could be yearlong (or more!) agreements. These business relationships can be very beneficial. This is a great goal to have to help scale your business.
Contribute to the US Economy
Just by creating your own business you’ve already contributed to the economy where you operate in. Let’s say there ends up being only 5 major parent corporations and 1 is Walmart. If Walmart destroys consumer trust, and people stop shopping there, then the entire economy is severely impacted. This can promote business overseas, which harms the US economy as more money is leaving than entering. You are paying taxes and offering another avenue for consumers to purchase goods or services and that promotes economic growth. There are several other beneficial factors to offering a product or service that include; higher quality products, lowered prices, made in the USA and increased employment. Creating your own business will help the US economy by increasing competition and allow you to follow your dreams while earning a higher salary. Citypeak Marketing can help you create your business and increase the sales of products or services you offer.
Let's Make Your Dreams a Reality
By offering your product or service at a better value than competitors you are guaranteed to succeed. It is very tough making the commitment to leave your “safe” job behind and start your own business. However, the rewards for doing so outweigh that hesitation. You could enjoy the work you do more while earning a higher salary. Additionally, being your own boss is very appealing because it allows you to take control of your life. If you’re thinking, “I can’t wait to start my business,” then keep that energy alive and get planning. Citypeak Marketing is here to help you get your business off the ground and reach the peak. With a team of marketing professionals, we have your back and are determined to see you succeed. View our website and schedule a free consultation with us.