Starting a business opens the door to endless possibilities. However, to build and maintain a successful business, you need careful planning and reliable resources. At BizCypher, we provide clarity for each step of the process. Simply fill out our Contact Us form, and we’ll be with you every step of the way.
Here is our list of 10 things you’ll need when starting a business:
1. Create a Business Plan
Your business plan is the roadmap to your success. It outlines your goals, defines your target market, lays out your marketing strategy, and projects your financial future. Not sure where to start? We can help you craft a comprehensive business plan that sets you up for success.
2. Choose a Business Structure
Deciding on the right legal structure for your business is a critical step. It dictates how you are taxed, your liability, and the level of complexity to set up. Whether you’re considering a sole proprietorship, LLC, corporation, or partnership, we’ll provide expert guidance to ensure you make the right choice.
3. Select and Register Your Business Name
Your business name is your brand identity. We’ll assist you in checking your name’s availability through the Secretary of State website and assist in registering it with the appropriate state agency. Plus, we handle the paperwork for you, making the process smooth and hassle-free.
*Note: The typical state cost to file an LLC is around $50, but it can vary by state.
4. Recieve Your EIN (Employer Identification Number)
For LLCs, corporations, and partnerships, obtaining an Employer Identification Number (EIN) from the IRS is essential. This separates your business from your personal and allows you to expand when you’re ready. Let BizCypher assist you in securing your EIN so you can focus on building your business.
5. Open a Business Bank Account
Separate your personal and business finances by opening a dedicated business bank account. Not only does this make tax filing and expense tracking easier, but it also establishes professionalism in your financial dealings.
6. Develop Your Website
In today’s digital age, a professional website is a must if you want to reach your audience make getting paid easy. The Free Website Guys, our trusted partner, can build a stunning website for your business, attracting valuable online traffic.
7. Set Up Accounting/Finance Software
If you aren’t already an accountant, learning how to create a Profit & Loss statement and tracking expenses shouldn’t keep you up at night. Manage your business finances efficiently with free accounting and finance software from Wave.
8. Choose Point of Sale (POS) System or Merchant Services
If your business sells in-person or online, having a Point-of-Sales system or merchant service is going to ensure secure payment processing. VizyPay, our partner, offers merchant processing services tailored to providing the best service for any business.
9. Drive Business Growth With An Expert
Every business needs to understand their market and potential: what works, what doesn’t, and what it takes to improve. Whether you need that extra boost or need to discover what comes next, BizCypher will work with you to develop a customized growth strategy that aligns with your goals.
10. Consult For Legal/Compliance, Insurance, and Taxes
Navigating the legal landscape, securing insurance, and understanding your tax responsibilities can be complex. While we can guide you, it’s always a good idea to consult with a tax professional for personalized advice.
Ready to launch your business? Fill out our Contact Us form, and let’s get started. At BizCypher, we’re committed to your success every step of the way.