Wed 02 Sep 2015 | By:

5 Best Practices for Starting a Business in Alabama

5 Best Practices for Starting a Business

Challenges are a given no matter what you do, and it’s just the same as when you’re starting a business in Alabama.

From incorporating in Alabama to finding the right investors for your business, there are always things that could go wrong. You can never avoid these challenges, but with a strong intent, hard work, and a set of best practices to follow, you can surely overcome these challenges.


1) Have a Solid Business Plan

Write a Business PlanA solid business plan helps translates your viable business idea into an actual operating business.

It is the map on how your business operates and its projected progress through its entire lifespan. Writing a business plan may not be as easy as ABC, but it’s not as difficult as rocket science either. You can learn how to write a business plan with the help of the quick links provided here.

Quick Links to Planning for Success


2) Take Advantage of Free Startup Resources

Free Resources to Start a BusinessStarting a business should not be a me-against-the-world task that you need to do. Remember, the state government itself is pushing for more small businesses to open, and there are a lot of other startup business resources that are there to help.

There are a multitude of free startup resources you can utilize if you want to learn how to start a business in Alabama. Below are some examples of valuable resources you can use as your guide.


3) Incorporate in Alabama Using the Right Business Structure

Business WebsiteYour business structure is the determining factor for a lot of state-governed policies and rules that need to be implemented when incorporating in Alabama.

As this is the case, you have to choose the appropriate business structure to base your business on. Once you’ve made a choice, you can then use the links below to legally set up your business.


4) Create an Operating Agreement

Create an Operating AgreementAn operating agreement is not a state or federal-mandated requirement when starting a small business in Alabama, but it is an integral part of your business.

It protects your business from your deals with other businesses and it supersedes default rules implemented by the state. So in spite that it’s not mandatory, you should create an Operating Agreement for your Alabama LLC. Here’s a free template you can customize online.


5) Continue Learning as a Business Owner

Continue Learning as a Business OwnerPart of having a successful business is to ensure that you continue learning. As a business owner when you’re starting an Alabama business, it is part of your responsibility to look for more ways to help your business grow.

You do not stop after the Alabama startup process is done, because you need to learn more. Learning can be in the form of books or free startup courses.


Wrapping Up and Moving Forward

In starting a brand new business, success is relative only if you are willing to work for it. Using the five best practices outlined above, you will have a bigger prospect of succeeding in your business. There are a lot more practices, but it’s wise to start with these five now. Good luck!

About Liesha Petrovich

Liesha is a small business owner of 20 years, host of Startup Savant, the owner of a karate dojo in Maine, and creator of Work Mobly. During free time she's with her family and working on a Doctorate in Entrepreneurship.