Always enthusiastic about helping people start a business, our very own Nellie Akalp recently stopped into the studio for FOX5 Vegas – KVVU with tips for starting a business.
1. Have a Business and Marketing Plan
Nellie advises focusing on a short, to-the-point document you can easily access and change as needed. She says to make sure there is sufficient budget allocated to a strong marketing plan your business will benefit from.
2. Select A Business Name And Register It With The State. Nellie says it’s first necessary to make sure the name you want for your business is available before you start printing up business cards. If you don’t check and it’s not available, you may infringe on someone else’s rights. One quick way to do this is to conduct an FREE name search online.
3. Get a Tax ID Number And Set up a Business Bank Account. She says rather than giving your social security number for your business, you should secure a Federal Tax Identification Number, also referred to as an Employer Identification Number. Then, set up a business bank account. It’s important to keep your business finances separate from your personal accounts, so having a business bank account will serve that purpose.
4. Get Help! Nellie says having administrative help will allow you focus on the areas you need to, such as sales and business development. There’s always the temptation to try to save money, but not investing in help–even part time–can stunt your growth if you try to handle all the clerical work yourself.
She also encourages new business owners to get help with their business filings with companies like CorpNet.com. You don’t have to know how to set up a business and keep it legal to run it well.
See Nellie’s interview on FOX 5.