Setting up Your Business
* Register business name and company: Depending on the country you're in, it's generally essential to register your newly formed business name and company. This is particularly important to ensure your business name doesn't already exist.
* Register your domain name: Whether your new business is a retail shop or offer business services, a website is key to acquiring new clients/customers online. Whilst developing a website can take at least 3 weeks, you can register a relevant domain name as quickly as possible. The key for an effective domain name is to keep it short and relevant.
* Register for taxation purposes
* Business identity: Logo, business cards, letterhead/fax/invoice templates - Personally, I believe it's extremely essential to get this right from the start. Your company/business logo should be unique, easy to recognize and relevant. It's the single important element that your clients and future clients will recognize your business. Outsource a freelance
graphic designer to design a custom logo for your business (a freelance graphic designer is much quicker and cheaper than using a
graphic design agency). Once you're happy with the logo, get your graphic designer to design matching business cards, letterhead/fax/invoice templates, and a website. Consistency with all these elements is key. Some freelance
graphic designers actually offer "Business Start up Kits". With these design packages offered for new businesses, this will be a cost effective way to develop your business identity.
* Register your trademark (i.e. company logo): Once your graphic designer has fianlised your new company logo, trademark it! With your logo trademarked, future competitors are not permitted to copy your business name/logo.
* Develop a website:. With the use of internet (and in particular, Google) continuing to be the fastest growing channel used by consumers and businesses, any new business should develop a website that showcases their products/services, with an aim to acquire new clients/customers online. Your website design should also be consistent with your branding, so try and use the same graphic designer to design your website for you.
* Open a business bank account: Having a separate bank account for your business transactions can ensure you can manage your business cash flow effectively as well as making it easier for taxation and accounting purposes.
* Location of Office/Store/Warehouse: If your new business is a retail store, it's essential to locate the best location that has a good balance of foot traffic but at an affordable rent. For a service business, you can start off with working virtually from home to save costs related to office space, or share a business office with another new business (so you can leverage their utilities, such as internet, phone, and even reception/secretary).
Business Identity
Your business identity is critical to business success and also essential to get this right as soon as you start your business.
* Unique logo for your business: Get a custom designed logo! It may cost a little more than a template logo, but the idea of a company logo should be unique and differentiate yourself from your competitors, so invest the time and cost upfront to have a unique logo designed.
* Business Cards: This can be the smallest - but most powerful - marketing tool to use. Ensure your business cards are consistent with your company's brand, and also try and include the products and/or services you offer (rather than just your company name and contact details). Having a unique design will also increase the chances of the potential client/s to keep your business card, so make sure you tell your graphic designer this!
* Letterhead, Fax, and Invoice Templates: Keep it simple but consistent.
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Website Design: As discussed above, this is essential in today's technologically savvy market.
* Corporate Profile / Brochure: to showcase your company's experience, products or services, and unique selling point. Ensure your
brochure design,
catalogue design, or corporate profile is on brand with the rest of your brand identity.
