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You probably know that running a business takes a lot of hard work and dedication, but you may not understand that you can create the framework for a successful company in as little as eight hours. If you want to start a business, use this timeline to get the company up and running in one day.
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9:00 AM to 10:00 AM - Build Your Brand
According to one survey, 77% of consumers prefer to buy the products they need from brands that share their values. This statistic highlights the importance of building a strong brand from the beginning stages of opening a business. You should identify your goals and values as the first step in developing a distinctive brand voice.
10: AM to 11 AM - Identify Financial Goals
Financing is a cornerstone for any business. You must know how you plan to secure financing, generate revenue and pay down debt if you want to be successful. Having a financial plan in place encourages you to stick to the vision and grow your company in a sustainable way. You can utilize startup consulting along the way to speed up some of the decision making.
11 AM to 12 PM - Choose a Business Structure
Choosing a business structure is important because it determines how your company is protected financially. Forming a limited liability corporation, for example, protects you if you find your company in legal trouble. Each state has its own regulations regarding LLC formation, so it's best to check your locality's restrictions. If you’re wondering how to start an LLC in Florida, you can hire a formation service to save time and avoid lawyer fees.
12 PM to 1:00 PM - Brainstorm Business Ideas
Think of business ideas that can grow your company. Write down goals for growth, ideas for future products and your business values. You don't have to commit to all of the ideas you come up with, but the information you have will help you draft a solid business plan.
1:00 PM to 1:30 PM - Choose a Business Bank Account
Your company's finances must be kept separate from your personal bank account. Research the best banks for commercial accounts and decide which one is most beneficial for your company.
1:30 PM to 2:00 PM - Establish a Process for Invoicing
Getting paid promptly and on time is crucial for a startup. Give some thought to how you’ll invoice your customers and clients. It’s a good idea to simplify billing terms and give them several different ways to pay you. You can create branded invoices by utilizing an invoice generator. Once you’ve chosen a ready-made template, you can customize it by adding your own colors, slogan, and logo.
2:00 PM to 3:00 PM - Develop a Marketing Campaign
You must have a dynamic marketing strategy from the beginning to spread the word about your business. It must be recognizable and credible, so start by designing a professional-looking logo. You can pay a graphic designer to create a logo for you, but if you are looking for ways to save money, consider doing it yourself with an online logo maker. You should also identify your target audience and determine how you want to keep them engaged with your business.
3:00 PM to 5:00 PM - Hire Help
Hiring people with specialized skill sets is a great way to prepare your company for success. Instead of hiring full-time employees, consider working with freelancers. You can contract with a freelancer for various projects or work with people on a one-time basis. One of the biggest benefits of hiring freelancers is that you can work with people from all over the globe to get advice and recommendations from various cultures and viewpoints.
You can connect with many freelancers via social media. Spend time browsing social media accounts to find freelancers who offer the services you need and may be a good fit for your team.
Starting a business is no easy feat, but if you can stick to a schedule and focus on one task at a time, you can build the framework for a company within eight hours. By taking steps like choosing a business structure, developing marketing strategies, and establishing an invoicing process, you’ll be ready to start a business.
Article written by: "Sharon Redd created Live All the Way to help others live life to the ABSOLUTE FULLEST. She believes life all the way is a life with all the toppings! It’s ordering guacamole and queso at the restaurant. It’s wearing those bright pink shoes, no matter what anyone else thinks. It’s using your formal china for every meal and hugging your friends every time you see them. It’s eating ice cream for breakfast and so much more. Her goal, each and every day, is to live all the way and her mission is to help others do the same."