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Business Identity 101

Starting a business is hard work. Starting a business that succeeds and is easily identifiable is harder yet. Going into business without a good, firm, adaptable plan will almost always spell disaster. You have to know (at least in general) how you are going to go about building your company from the ground up. Here is a basic, 8-step plan to get you started:

1. Decide on a Name
What are you going to name your business? Ideally, your company name will appeal to your target customers and, at the same time, explain what your business does. Try not to get too fancy at this point. A simple, identifiable name is the goal.

2. Finalize your Contact Info
If you are going to run your business from home, then your address is already set. But you may want to consider getting a separate phone line that will be used only for the business – if you are going to be doing business over the phone, this is a must. If your company will work out of a separate building, you have to know what your address and contact numbers are.

3. Check in with the IRS
The initials IRS might scare the crap out of you. But all you are doing at this point is getting an EIN, or Employer Identification Number. If you ever have employees, you will be required to have an EIN. It is a good idea to get one right away, even if it is not required.

4. Go to the Bank
You should open a business bank account in which you will keep all of your business funds. You do not want to get in the habit of mixing your personal and business money.

5. Create a Logo
Many people pass over this step, or forget it altogether. But your logo is a great way to build name recognition. Make a good logo and put it on everything you use. When you design your next poster printing project, slap your logo on it. Put it on your brochures, business cards, everything.

6. Speaking of Business Cards…
This is probably the first advertising material you will want to get. Business cards are essential, and you should take them with you everywhere you go.

7. Get the Other Stuff, Too
Once you have your business cards, you can focus on the other materials you will need. This includes stationery, brochures, postcards, door hangers, posters, flyers, and any other methods of marketing that you plan on doing.

8. Get on the Web
A website is a virtual necessity. And, believe it or not, it is not terribly expensive to start a website from which you can sell your products. You can look at the big box domain name providers like Go Daddy for a way to get started.

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