Tips for Starting and Growing Your Business – Women Business Owners
Women are electing to become entrepreneurs at a rapid rate! As of 2016, there were almost 12 billion companies that were owned by women in the United States according to www.womenable.com and that figure is increasing at a rapid rate.
If you are considering starting a business or even already have a business, below are some resources and information that can help you get started or grow your business.
If You are Just Starting Out:
First – Determine your business name! Choose a name that will clearly let your customers know what you do and preferably one that is easy to remember.
Second – Choose your business structure – The structure you choose for your business is extremely important for liability and tax reasons. The most commonly considered business structures that are chosen are below (but consult a lawyer or tax accountant if you are unsure of which legal entity is best for your type of business):
- Sole Proprietorship
- Limited Liability Company (LLC)
- Partnership
- Limited Liability Partnership (LLP)
- Corporation
- S Corporation
Third – Obtain a business license – Once you have decided on your business name and the structure, next you need to apply for a business license through your county and/or state. Each county/state has different criteria for what is allowed and what is prohibited in having a business in that area. Make sure you read all the guidelines carefully and fill out the application completely.
Fourth – Open a separate business bank account – It is important to keep track of your business expenses so that you can file your taxes accurately as well as be able to provide yourself an overall picture of how your company is performing. Shop around to several banks to determine which one offers the benefits that are best for your business needs.
Want to Grow Your Business
Create a Website – The internet can be a main avenue of business for entrepreneurs through cyber selling and marketing. There are several great hosting sites that can be used to set up your site. Bluehost is hosting company that I use because it offers a customer friendly process to purchase a domain name and easy to use web design templates. Bluehost has been instrumental in helping me manage my site and with answering any technical questions that I have. The cost for this site is $3.95 a month if you use my referral link here https://www.bluehost.com/track/tamicagoode/.
Create and Grow your Email List – If you have an online business in which you would like to capture email subscribers for newsletters or product communications, Convertkit is a great site for allowing you to capture emails and group them according to like interests. I use Convertkit to send out newsletters, email broadcasts, and product announcement to my clients. This service is $29.00 a month through my referral link https://mbsy.co/convertkit/28200850.
For more resources on starting or growing your business, visit the resources page at http://www.goodecoachingandconsultationservices.com/resources.
Tamica Goode