Every year, we witness an increase in a number of would-be entrepreneurs. There exist an endless list of entrepreneurs who wish to convert their vision into a business. These entrepreneurs, though are overflowing with their business plans, tremendous ideas and optimism, but somewhere they often lack a roadmap which guides them along the essentials before the launch of startup.
1. Did You pick for yourself a name?
Before heading to get your business cards printed, you need to make sure, you are not infringing on someone else’s right. The great name you thought of your business should be exclusive and represent your individuality. For this you do not need an attorney for this task, a simple free online search can be done to check for the available name already registered with the secretary of state. You should also go for a comprehensive research into all state and local databases.
2. Register your fictitious name
Did you ever notice those endless fictitious name announcements under the classified section stating the names that the businesses are registered with? You may need one too. A DBA (Doing Business As) must be filed whenever your company does a business under the different name. For Sole Proprietorship general partnership a DBA needs to be filed when the business name is distinct from your name.
3. Obtain necessary permits and licenses
Obtaining licenses is giving your startup the much-needed umbrella against discrepancies from the very start. Depending on the nature and type of business, you may need to obtain one or more than one business license. Such licenses include general business operation license, zoning and land use permits, sales tax license, health department permits, and occupational and professional license.
4. File for trademark protection
Since you have spent untold hours in brainstorming that perfect name for your business, the next important step is to register for the trademark, for the proper legal protection of the name so proposed. They are valuable assets. The more your reputation grows, the more valuable your brands are
The art of marketing is the art of brand building. If you are not a brand, you are a commodity. If you want your startup to be valued for what you have created over time Brand it.
Many companies sell running shoes but only Nike sells excellence. Many companies sell milk, but why do we name only a few amongst them such as Mother Dairy and Amul. So we can easily spot that it is the underlying branding. It is the virtue of great branding in the former years itself, that the company can scale up the worth of the startup which far exceeds its physical value. Because there are going to come years of even tougher competition, but only startups, who can reach out to their customer bases with an emotional connect will continue to survive.
6. Domain Name
Having a domain name is the next big step towards launching your enterprise. Domain name should align with your brand so that it can scale up your sales. Domain name is one of the very essential steps, towards earning recognition as a newbie, since customer relationship these days start with an online presence. Customers and investors evaluate your net worth, by your domain name usually, even before getting in touch with you.
7. Beta testing your product
Do you want to make a grand entry with your product and wish it to be successful on the first go that too with as few hiccups as possible? Well, that requires significant testing of your product, in a house first and then with the actual world in real-time settings. It is as significant as your marketing plan as it is for refining your product. It is a smart move for your marketing team, not just for our R&D.
Thus the business plans and your positioning do not solely guarantee your long term survival into the entrepreneurial world but going by these steps surely would. No matter how busy, you are in the former years of entrepreneurship, but do not overlook these essentials, for these are what, going to determine your long term prospects.
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