Updated: Aug 8, 2022
Working with new business owners daily, my number one advice to them is, to begin with the end in mind. "Winging" your way through your business will not make you money, instead it will lead to an unorganized and chaotic business. In return, your business will appear unprofessional and turn away potential customers.
Build a clear and precise business plan. I will include a how-to guide on how to prepare a well-thought-out business plan.
Have a clear vision of your products and services. How do you want your customers to view your business? Remember the K.I.S.S. method, Keep It Simple Stupid. Offering too many products and services will dilute your main service or product.
Branding. You want your branding to be clear and to the point. You have your audience's attention for 3-6 seconds before they decide if they want to learn more or keep scrolling. The number one mistake I see with branding is ads being too complex. Your business needs a clean logo and a slogan to quickly identify what you have to offer your audience.
Local laws, licenses, and regulations. Each state will require different licenses and tax regulations depending on your industry. Check your local laws before your invest in your business.
Do not make your business name too personal. Having a business name that is too personal creates exclusivity. Unless you're opening a VIP lounge you want your customers to feel as if your doors are open to everyone. Your business name should be to the point and include your business type. For example, We own a tanning salon called Third Coast Spray Tans & More. We could not just name the business Third Coast as it would not indicate what it is we offer. We have another business name Rebel Honey Boutique. If we had just named the business Rebel Honey we would sound as if we specialized in honey products.