Sun 06 Dec 2015 | By:

5 Best Practices for Starting a Business in Alaska

5 Best Practices for Starting a Business

As a new entrepreneur starting a business in Alaska, taking on a lot of tasks when fulfilling your entrepreneurial endeavors can be quite overwhelming.

However, you should always remember that regardless the challenge, being able to have a good start really counts to make your business succeed. To do this, there are five best practices you can follow to kickstart your Alaska startup.


1) Create a Solid Business Plan

Write a Business PlanWrite a business plan today, and know where you’ll go tomorrow.

Often enough, business plans are blueprints to your business and can greatly influence its success. This means you need to know how to write a proper business plan if you’re going to get it right.

You don’t need to be a pro at it, just as long as you can translate your business’ goals, vision, and how you’re going to achieve them, you’ll be fine. Below are some key resources to help you write a solid business plan.

Quick Links to Planning for Success


2) Take Advantage of Free Startup Resources

Free Resources to Start a BusinessIf there’s one thing you need to know when learning how to start a business in Alaska, it’s that business is not the easiest environment.

Competition might be around the corner, and if you’re not savvy enough to utilize free startup resources, you will be at a disadvantage. Learn how to be a shrewd entrepreneur, and learn as much as you can. You can start off by referring to the three resources below.


3) Choose and Incorporate in Alaska with the Correct Business Structure

Business WebsiteChoose the appropriate business structure that corresponds to the type of business you will operate. Its size, operations, and your preferences as an owner should all be considered.

This is a must because the type of business structure you select will also influence your business tax requirements and the paperwork you need to comply. Below are a few guides you can use when incorporating in Alaska (once you’ve decided on a specific structure).


4) Create an Operating Agreement

Create an Operating AgreementAn Operating Agreement is a document in which you can arrange the financial and functional relationship between your employees or partners.

An Operating Agreement also protects your business limited liability stature and ensures that your business operations are administered under your own policies. So this is why you should create an Operating Agreement even if it’s not a requirement by law.


5) Keep Learning as a Business Owner

Continue Learning as a Business OwnerEven if you’ve already been through the Alaska startup process, it is still crucial to keep learning as a business owner.

Starting an Alaska business is just the beginning. How you bring this business to success still needs to be seen. In order to fulfill this goal, you have to read up on business books, take advantage of useful free startup resources.


Wrapping Up and Moving Forward

When starting a business in Alaska, following best practices immensely help in accomplishing your business goals. There are tons of best practices, with each business following their own set. Starting with the five above will give you the leverage you need to become successful. 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.