How to Start a Business: Here's What We Did

Image Credit: axel strat

Image Credit: axelstrat

So you want to start a business? You have a great idea that you want to share with the world, the only problem is you don’t know where to start. It’s ok, I was there too. First, take a breath and relax. Chances are you are overthinking it. The “what if’s” start flooding your mind and and hour later you’re still thinking about all the reasons why you shouldn’t start a business rather than why you should. Here is the step by step process we used to launch AxelStrat, LLC. Keep in mind, these steps are a general guide line to how to start a company; Here’s what we did.

  1. Form the Legal Business Entity

    Set up your Limited Liability Company to make sure you and your personal assets are protected in case of any possible litigation claims against you and your company. You can operate as a sole proprietor, however, be aware of the risk; your personal assets will NOT be protected incase of any damages a client might seek.

  2. Develop the Business Administration Framework

    Next step is to create the internal business systems that will allow your business to operate such as accounting, communication, marketing/advertising, and human resources depending on the size of you business. This includes but not limited to:

    • Accounting Framework

      • AIS

      • Accounts Receivable

      • Accounts Payable

      • Inventory System

      • Budgeting

      • Taxes

      • Payroll

    • Marketing/Advertising Framework

      • Website

      • Branding Profile

      • Advertising/marketing strategies & campaigns

      • Email and Team Communications

      • Social Media Platforms

    • Human Resources Framework

      • Hiring and Terminating Employment

      • Benefits

      • Wage Attachments

      • Garnishments

      • Payroll Taxes

  3. Continual Improvement

    Now that you have the foundation for your business to grow you must continue to improve systems as necessary to current with the changing business environment. It will be chaotic in the beginning, but as things start to fall into place, your brand will start to take hold.

Be patient! Building a brand doesn’t happen overnight! Keep in mind this is not a “one size fits all” approach to starting a business. These are general items that are needed in small business and should not to be overlooked. If you need help trouble shooting problems or need some direction let’s us know! If you found this helpful, give it a like and share!