Getting a business idea is such an exciting time! You have all these different emotions coursing through your veins about what you can provide to consumers and envisioning the success that’s to come. But what do you do now that you have the idea? Let’s talk about it.
Do you have a business name idea?
This is going to be an important one. You want to make sure your business name isn’t taken by someone else in your area, or trademarked, etc. You will also want to check to see if you can use the social media handles or domain for them! The goal with your handles and website is simplicity. The easier you’re able to share, the more likely someone will remember your name later.
Look up your city and state legalities.
Can you get by as a sole proprietor, DBA (doing business as), or do you need an LLC? These are things you’ll want to talk with your local court about. Generally there are small business classes you can attend to get more information, or watch videos from lawyers and accountants in your area! But make sure you’re setup for success from the start.
Do your market research
Having an idea for a business is exciting, but is it needed? Do people want it? Are people on a search for what you’re offering? If you know other businesses that are doing what you want to do, that’s a great sign! Don’t worry about it being “oversaturated.” Your goal will be to apply your own spin to what makes you different. If you’re not sure that it’s something people want, run some polls on your social media vaguely sharing about what you plan to offer or create. You can also check search engines!
This may seem like a no brainer, but there are so many people who say they’ll start and don’t. Worry about the nitty gritty details as you go. If you’re having analysis paralysis and could use some help, I offer 1 on 1 strategy sessions! Get in touch with me here and we’ll get setup with a call.