Important Things New Business Owners Must Do First
My latest contribution to Forbes highlights the most crucial steps new business owners need to take when first starting a business. The aim of the article, “Five Critical Tasks To Tackle For New Business Owners”, is to help entrepreneurs focus on what really matters. These critical items should be completed in this order to be most effective.
New business owners should:
- Understand their business’s value proposition and create buyer personas.
- Hire a lawyer for optimal business tax structure and liability.
- Brand their business in a manner that makes a good impression to their customers.
- Identify the best tools that will help run the business.
- Get their business listed online, more than just on social media.
Although checking these items off the list is necessary, it’s not necessary to spend a lot of money doing so. For instance, while hiring a lawyer may be expensive, you can offset that cost when you work down the list.
Writing a business plan maps out the business, and serves as a reminder of why it exists to begin with. Branding your business can be quick and inexpensive with online marketplaces like 99Designs or Fiverr. Free tools, like Google Drive and Trello, can be utilized to operate your business, as can free trials of more sophisticated software. Social media presence might be important, but also establish business profiles with relevant authorities like the Better Business Bureau.
I’ve been an entrepreneur since I began my first business at 12 years old. In sharing my experience and advice with entrepreneurs, I hope to empower others to achieve their own success.