Technology

How to Start a Business from Scratch: 24 Steps to Becoming Operational

The trend toward more people being able to pursue business ventures is positive. There are ways around this, and there are companies out there that will fund or give you the resources necessary to start a business from scratch off the ground.

It takes quite a few steps and numerous beginning of a business. The process of building and growing your business is outside the purview of this article because the necessities are different for each business. If you are looking to get a feel of it, here is a guide explaining how to figure out what business to start and how to keep moving through the process.

Let’s begin with the steps necessary to launch your business.

Start Your Business in 24 Simple Steps

  1. Establish a plan to handle the things that may happen. 
  2. Choose the name of your startup
  3. Buy domain name
  4. Keeping social media accounts safe from being hacked. 
  5. Your brand should be a symbol that denotes who you are and what you offer. 
  6. Create a Google suit account
  7. Build a fundamental website
  8. Order business cards 
  9. Find a good accountant and a good attorney
  10. By making an LLC, you can limit your responsibility to a specific amount of money. 
  11. Apply for a new Employer Identification Number 
  12. Make an operating Agreement 
  13. Make sure you have obtained the necessary paperwork from your state
  14. Create Your Business Bank Account
  15. Save money by setting up payroll for your employees and contractors.
  16. Make your QuickBooks
  17. Create Your Basic Accounting System 
  18. Start using a project management solution immediately.
  19. As you build your company, continue building out your internal wiki system
  20. Create your slack account
  21. Fix Your Conference Call Number
  22. Create 1Password
  23. Set Up Your Subscription Tracker
  24. Choose Your Plan for One Year

1. Establish a plan to handle the things that may happen.

A high-level business plan is crucial to starting a technology business. A high-level plan will lay out the entire corporate strategy and financial plan for the company. This is the plan that your company will follow if you take this job. This is your roadmap for success. The basics of building a good high-level business plan. You can also use these business plan templates for your startup.

2. Choose the name of your startup

If you do not know what you want your website to be called, most likely you will not be choosing a great name. It is better to find out now and start researching the possible options. Pick your brand name and also pick a memorable domain name. Consider the following things while choosing your website name.

  • Don’t pick a name you have to push yourself to use
  • Pick some unique and attractive name. If you pick an established name for your business or product, it becomes very difficult to rank in Google.
  • If you want people to remember and talk about you, your name must be memorable, brandable, and simple
  • Choose the .com domain if you are going to invest in a domain name, make sure that is the right one. 

3. Buy  Domain name

Domain name buying is a booming industry that offers immense financial benefits for any entrepreneur looking to start or expand a business Domain names are cheap, so you should choose one that is available. Deciding on the cost of a domain name can be tricky since there are numerous factors to take into account.

Domain.com is one of the trustworthy websites to buy domain names. Domain.com is a great service for domain buyers. The more budget you have for your domain name, the easier it will be to establish your site as a reputable authority.

4. Keeping social media accounts Safe From Being Hacked

Keeping your social media accounts secure keeps you from having your personal information exposed to people who aren’t authorized to see it. Most people have a really hard time determining how much personal information is out there on the internet and how vulnerable they are if it’s out there for the taking. Logging into various accounts simultaneously requires knocks on the door and passwords, often in the form of an additional security question or code.

You can decide how much time you invest in getting people to follow your social media feeds right from the start. I want you to think about it, but the responsibility to figure out a solution is on your shoulders.

5. Your brand should be a symbol that denotes who you are and what you offer

It’s what you build together with your team, it’s what you leave behind when you go, and it’s what connects with your visitors—even when they’ve never met you in person If you want people to remember you, they need to associate your name and face with the product. The foundation of your identity needs to be based on your community, which is why we focused on landing pages first—because landing pages convert better than any other kind of website.

6. Create a Google suit account

As a business, G Suite (formerly Google Apps) is an essential expense. I do almost everything using G Suite. To be successful you have to have a strong brand identity and a neat website. If you build this foundation over time, people will start trusting you and opening their wallets. If a user sees value in your service and opens an account with you, they will be more likely to continue using it. There are several ways you can go about setting up your G Suite (Google service) account.

7. Build a fundamental website

If you’re a solo operation, your website might be as simple as a page with links to your writing and contact information. A fundamental website is an online platform that all your visitors will need to get to your site. It contains all of the content you’ll need to communicate with visitors about your products and services.

With Squarespace, you can have a full website up and running in minutes. If you’re interested in building a full-featured website, check out this free platform named WordPress.

8. Order business cards 

You want to make sure that you are branding your business with an identity that sets you apart from all your competitors. One way to raise your perceived professionalism is through business cards. 99 Designs does custom business cards, so if you’re looking for a cool design you can use for networking or promotion, they’re the ones to talk to. You can then order business cards online through Vista Print

When you give someone your business card, it lets them know that you care enough to have a business card. 

9. Find a good accountant and a good attorney

Start-ups are often overlooked for important legal tasks. You need competent legal representation to hear your case in court and achieve your goals. Your attorney and accountant must be well-versed in Internet marketing, finances, and business law. The best start-up lawyers specialize in digital communication and e-commerce law, as well as specializing in other areas including tax preparation, immigration, and financial services.

I’ve heard many people praise UpCounsel for its customer support and I think it is one of the trustworthy for your startup

10. By making an LLC, you can limit your responsibility to a specific amount of money

The best ways to set your LLC are

  • Pay an attorney
  • Use an online company

There are many online legal services like Rocket Lawyer, LegalZoom, LegalNature, LegalShield, and much more.   

11. Get an Employer Identification Number Apply for a new Employer Identification Number 

Getting your EIN is usually an extra step you don’t have to worry about after you’ve incorporated your company. You’ll be using your Social Security number for just about everything, including your business finances, so be sure to set it aside and take. 

12. Make an operating Agreement 

A legal document that governs the legal rights and responsibilities of all parties involved in your business. It serves as the legal contract between you and your business, and between you and any financial institution that gives you credit. When you run a business with several people, you need to decide how you’ll split the work and make decisions. 

13. Make sure you have obtained the necessary paperwork from your state.

If you use a lawyer, the process for forming a limited liability company is pretty simple. Other business structures require more complex legal.

If you’re starting a business from scratch, you need to create several different paperwork packages for your operations. Each package will be used for one purpose or another depending on what type of business you’re starting.

14. Create Your Business Bank Account

To get your business credit card, you need to have a separate Employer Identification Number.  The big banks will sometimes offer you things like free accounting software or financial advisors in exchange for a higher interest rate. We contacted Intuit, and they blamed our bank for the error even though we had no control over their programming. 

You should use your bank exclusively for deposits to your savings and checking accounts and use it only to pay bills. 

15. Save money by setting up payroll for your employees and contractors

Your business will grow, and as you start to pay employees and contractors, you will need to start tracking your finances. The service will handle both payroll files and forms as well as taxes and do not need to be handled. 

16. Make Your QuickBooks

Opening an account with QuickBooks is good preparation for the future, especially if you want to export your historical data. It’s important to set it up before you hire your first employee. It will help you track your finances. 

17. Create Your Basic Accounting System 

You can save yourself a lot of time and money by working with your accountant early on to make sure you’re doing things correctly. A good accountant will give you a year-end list of guidelines and recommendations that would otherwise be very time-consuming and costly too. While QuickBooks is a good tool, it can’t do everything and you’ll need to count on it for certain tasks. 

18. Make a project management solution immediately

In the early years at any startup, it’s extremely important to track all of your work so you understand your time and track your expenses. One of the benefits of creating good habits is being able to look back and see how you’ve improved in the past.

New employees will have a much better understanding of the company’s history, which is vital to them being able to contribute to the business. Trello and JIRA are one of them.

19. As you build your company, continue building out your internal wiki system

It’s a good idea to document everything from the beginning, as this will make it much easier to identify problems and formulate strategies. This is not groundbreaking advice. If you ever want to scale your startup, it’s critical to preserve the relationship between your companies. 

When you begin a wiki system, stop and think about what you want to capture before you start creating pages. Confluence is one of the trustworthy wiki systems to proceed. 

20. Create Your Slack Account

There’s a free Slack plan available for small teams. It’s easy to set up, and it has great mobile apps it’s easy to get started, and the main features are free. The next level that’s 7 USD / month gives you 

21. Fix Your Conference Call Number

GoToMeeting is a great tool for global businesses to use when planning conference calls. GoToMeeting provides you with a video conferencing service that allows you to hold group meetings and host webinars. There are several alternatives to GoToMeeting, including Skype and Google Hangouts. 

22. Create 1Password

You will save yourself time and energy in the future, as well as allow yourself to focus on growth. The possibility of losing a single password can cause big workflow disruptions for a team. This is why using 1Password to secure all.

23. Set Up Your Subscription Tracker 

One thing that often gets overlooked is the ability to track your subscriptions using 1Password. A simple tool like a spreadsheet or list can help you keep track of all the various accounts you have to access.

Get a subscription to a professional financial software package so that you can track all of your income and expenses.

24. Choose Your Plan for One Year

You can easily choose your business plan for one year as

  • What’s your plan to accomplish all your goals?
  • If you want to reach your goal, it’s important to have a plan.
  • Your progress will be much easier to track if you have a system in place.
  • Review your goals monthly and make any needed course corrections.

Conclusion

Starting a business from scratch is indeed hard, but that doesn’t mean you can’t do it. I know that it was for me, but with the right tools and understanding of how to start a business, it becomes really easy. But if you’re willing to put in the time and effort there are many ways you can start a business that will help you reach your full potential and live happily ever after.