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11 In How To/ Legal/ Startup Basics

5 Easy Steps To Launch Your Business

5 Easy Steps To Launch Your Business

You have gone through the emotions and even made pro’s and con’s lists about your dream business. Now you are ready to launch your business but you are lost on how to actually do that. In Kick Start Your e-commerce Consultation I walk clients through a 5 week course on how to launch their business, including: site design, branding, payment gateways and much more.

Today however, I wanted to go over some things it seems people skip in the excitement of starting their business. Things like the daunting task of setting up legal paperwork and much more. To be really honest, when I launched my business it wasn’t daunting or mundane. It was really fun and a learning experience on how to navigate the world of business.

Acquire your “Doing Business As”

Register your business name with your local government. You will go down to local comptrollers office to fill out the paper. When I registered my business it was $14 in the City of Dallas. 

File Tax Identification Paper

Determine which tax identification number you’ll need to obtain for your small business to compile with the IRS and your state offices. You can go to SBA website to find this information out.

Register your legal entity

Determine which of these legal entities works best for your small business: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative. The most common one for small business owners is LLC. However you can read more on the subject matter and determine which is best for you. In addition I suggest consulting an attorney that solely works with small business.  

Set up business bank accounts

Remember, it is important to separate your business and personal finances. Take your tax identification and Legal Entity paperwork to your local bank or credit union to set up an account. Use this is account to make all your business purchases.

Obtain Your Domain Name + Set up Email

A domain name is something we have discussed before. It is your URL for your company. If you own an online boutique or store, this does not have to be in your domain name. Also, you receive one free email address from companies such as Go Daddy when purchasing. Make sure you create info@yourdomainname.com or yourname@yourdomainname.com to keep it professional. You want customers to reach you on this email instead of you using yourdomainname@gmail.com. Google are the owners of gmail, not your company. Keep it professional. 

There you have it! Five easy steps to launch your business in less than 5 hours. Hackathons happen all over the country that bring people in rooms for 24-72 hours and they launch their website and business in that weekend. It has even been said people find new CTO (chief of technology) or funding for their business.

Find out exactly what your state requires you to do when launching your business. Every business is different and you want to make sure you do what is right for yours.

Photography Image by NASA; image sourced by Flickr Creative Commons

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  • I have never heard of a hackathon before. Sounds interesting!

    • imperfctconcept

      Hackathons are really big in the tech industry. They are developers and such. Really cool if you get to experience it.

  • Cher

    You don’t understand how addictive your website and IG gems are!!!!! I am working on opening an online shop (I am tired of the word boutique so I am thinking of other things to call it ;)) so I know all of the legalities I have to get in place, but it will take a little time. I have purchased my domain already per your advice. I did not see where I can get a free email as well. I went through GoDaddy. Also, what are your thoughts on starting a website a couple months before obtaining registration, reseller’s ID, entity, etc? Thanks in advance!

    • imperfctconcept

      Hi Cher,
      I will always urge you to do the legal aspect first. There are so many benefits. Its better to start on the right track verse having to make a u turn later. You can call go daddy or you can go under your account click the domain then click email and launch to set it up. Very simple

      • Cher

        Thanks so much! My gut and my MBA tells me to do things the appropriate way as well. 🙂 I look forward to having a session with you soon!

        • imperfctconcept

          Yes go with that gut and MBA decision. lol. Yes, look forward to working with you too.

  • Oh Honey! Skin Care

    Im a bit confused on whether or not a “dba” is needed in conjunction with LLC if its going to be the same name? I’ve seen DBA used plenty of times but always seems that its when XYZ Company dba ABC 123 Company. Just want to make sure I dont skip it when I really need it.

    • imperfctconcept

      Every state is different. Go to your state website and research it. Most of the time you need to register a DBA in your local city.

      • Oh honey skin care

        Thanks!

  • Ciera Wilson

    Is there a business checking/credit card that you recommend? Most banks charge a fee or have a required daily balance. Thanks!

    • imperfctconcept

      Actually I have my accounts at Bank of America and before that Citi bank. My business accounts are free because I have a saving account with them. As for credit cards no I can’t actually recommend any. Most have fees

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