There are over 23 million small businesses in the United States. Despite some rather trying times, if you believe you have the passion, motivation, and perseverance to foster growth, here are 7 tips on how launch your business and keep it successful – check out how Vertex Inc can help you with #5.
1. Brainstorm - once the core idea is laid out for your business, focus on the potential problems and needs for your product or service.
2. Write it down - put together a business plan with items like an executive summary, an in-depth company description, market analysis, financial projections, and marketing and sales strategies.
3. Find resources - identify resources like start-up funds, tools, space, and manpower before you dive in other expenses.
4. Market it - Set up social media accounts early. Carve out a marketing plan from the start, and follow through with a front-end website, business cards, launch events, and branding (logos, letterhead, etc.)
5. Figure out finances - It’s crucial to cover your bases here. Set up your accounts payable, bookkeeping, and taxes as soon as possible. You can run into trouble with your finances - and worse, the IRS - if you don’t have everything straight. Vertex Inc.'s proven, accurate, and simple solution is here to help your small business. With our pay-as-you-go pricing model and no upfront fees, we make it affordable for your business.
6. Mind the mundane - Keeping up on the many moving parts is essential to staying above water. This means regular check-ups on payroll, inventory, social media, human resources, etc.
7. Keep reaching - Having constant goals encourages continued success and ups motivation. Always keep tabs on competition and request feedback from clients and staff alike. Present actionable challenges for employees to aim for, and reinforce that by setting your own broader goals.
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