If you’ve been waiting for the right time to start a business, NOW is the time! We’ve got everything you need to know about how to start a business in 2020.
How to Start a Business in 2020
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I’m totally confident there’s a budding businesswoman inside of you that’s ready to come out! You just have to take the first step (and then the next, and then the next… you get the picture). Starting a business can feel totally overwhelming, especially in the current state of the world, but it’s still completely doable.
Here are the steps you can take to get your business up and running in no time!
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5 Steps to Starting A Business in 2020
Step 1: What are you going to do? Start with a service or the path of least resistance
Come up with a concrete business idea. When you’re just starting out, it’s good to focus on businesses that don’t require a ton of startup money or additional space. Providing a service (especially a digital one) is an easy way to start a business without major up-front cost.
Step 2: Come up with your core 3:
Name, Niche, and Monetization
You can’t create a nameless, doer-of-all-things business who gives out free products and expect it to succeed. Start out with a name, figure out your niche, and nail down exactly how you’re going to make money (because income should ALWAYS be a focus).
Step 3: File appropriate paperwork to start your business (LLC, state or County DBA paperwork, etc)
Don’t let the legal stuff get in the way of your dreams! It might feel like there’s a mountain of paperwork waiting on you the second you declare yourself a business owner, but it’s more manageable than you think.
Figure out exactly what paperwork you need based on your state and county, make a checklist, and get started.
Step 4: Set up a business checking account and a system for tracking taxes
You’re starting a business, which means you’re about to start making some moolah. Get all of your financials in order at the beginning and your life will be so. much. easier. later on (tax season, I’m looking at you).
Step 5: Get the word out
- Tell your friends
- Run ads if you have a budget
- Research ways to be found in search
You could have the most life changing, wonderful, amazing business in the whole world – but if nobody knows about it, you’ll sell nothing. Spread the word! Tell your friends (and your friends’ friends if you want). If you have a budget, run ads for your new business – you’d be surprised at how far $10 to run a Facebook ad will get you when you target the right people.
Now is a great time to start researching how to get people looking for what you do to find your business in search. You’ll want to look for search engine optimization (SEO) tips, the best keywords to use on your website, etc. Once you figure out the magic of SEO, you’ve got this.
Whew! That might feel like a lot, but you can do this! When you break it down into manageable chunks, you can 100% do it. Go on, start your business!
Ready to get going? Download the free Business Builder’s Guide below to get more tips and tricks on building your business from the ground up!