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 shows their products/services, with an aim to acquire new clients/customers online. If your business is a retail store, opt for an online shopping cart. Or an online booking system to allow clients to book appointments online if your business is medical or recruitment. This is the most cost effective channel to use. Your website 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
As mentioned before, I personally believe 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. The last thing you want is the have a similar logo as your competitors. Think of the big brands: McDonalds, Google, Sony: Unique and simple.
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 designer this!
Letterhead, Fax, and Invoice Templates: Keep it simple but consistent.
Website: It's easy to want fancy flash animation on your website. But is that what your customers want? My recommendation is for your website to offer easy navigation, loads quickly, WIFM (what's in it for me), on brand and different to your competitors. Your designer can suggest a few different design templates. Again, it's worth the extra time and money to invest in a good website. There are so many new businesses who develop a cheap website to start off with, but end up getting a new website design only less than 3 months later. So, know exactly what you want and communicate this to your designer as detailed as possible upfront (not after).
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