How to start a business…
how to start a business + tips I wish I knew
how to start a business…
I started my business a few years ago and I’m beyond excited to share some amazing tips that I’ve learned along the way with you guys!
Tip 1: you have to start somewhere!
Okay so the first tip is super important, it might be cliche but just go for it! If you’ve always had a dream or passion and wanted to see what you could make of it, GO FOR IT!!!! List out the ideas or passions that you have. I’ve always loved health and fitness, so I started a fitness resistance bands company!
Don’t put it off, get started! if starting a business is something you want to do start now, buy the domain, start the website… a business in this day and age can be a lot of different and amazing things! Starting a podcast, a blog, a YouTube Channel, TikTok Account, Shopify Store, becoming an influencer, there are so many opportunities in this digital age that we live in. You don’t have the reinvent the wheel or invest in a brick and mortar to own your own business. The startup investment to own your own digital business is free or close to it when it comes to the internet which means it’s the best time to start.
If you want to have a product-based business think of the products you could sell! For Baddie Bands, I created my logo myself and my designs for the bands. Then I found a manufacturer to build the actual product. You can Google Search for manufacturers in your business niche. I also purchase bulk inventory of my product. I personally do not do dropshipping.
For example A clothing store… Do you want to create your own designs? Do you want to order wholesale pieces from already existing brands? Print on demand could be a great option or drop shipping to test the business before purchasing bulk inventory.
Think:
Product or service based business?
TIP 2: Don’t discredit your passions or your skills from your day job, they can lead you to a business idea you never thought of…
Also, don’t discredit what you do in your day job if you have a passion for the field you work in! I have a background in Recruiting and Hiring so I naturally made a TikTok account about all things hiring and side hustles. I didn’t expect my Career and Personal Finance Content to really do much on TikTok… however I grew my account to just under 10,000 followers in less than a year. I had a lot of my viewers asking if I could work with them 1x1 or help them with their resumes etc. This led me to another business idea, which is a service-based business and creating content for brands in the career, productivity, and, personal finance space.
Tip 3: Brainstorm all your ideas and buy a notebook specifically for your business:
I know this sounds cliche, but getting all of your ideas out on paper or a white board can help you tremendously! You can see everything right out in from of you so that way you don’t procrastinate and get started.
It can also help you build a business plan, you know, the how, the where, the mission, the why! This will be super helpful to reference and to add to as you continue to build your business.
list out your ideas and your why…
tip 3: and no you don’t need to file for an LLC just yet
I think this tip is super helpful and (disclaimer this is not business/ financial advice here.) However, I know a lot of people think when they first start a business they immediately need an LLC.
You can also wait until you’re earning money from the business to build out the LLC, as there are other business expenses you may have to actually get the business up off the ground. Definitely look into more information on forming an LLC in your state. Every state has different laws and regulations when it comes to taxes and LLC formation.
when to get an llc? When you feel ready!
There are also so many great websites online that let you form the LLC and you can also get all of your documentation pretty quickly as well which is really nice.