10 Simple Steps
If you don’t “believe” in planning, then good luck and you can move on to step 2. However, if you recognize the incredible value in professional business planning then this is your first step. Don’t half-ass it. Take this as seriously as Idahoans take Boise State. Your plan will become invaluable in a large variety of ways, especially when you reach steps 7, 8 and 9.
Take Action: Seize upon our free and easy email-based Business Planning Course designed to get you from A-to-Z as pleasantly as possible. Plus, we provide tons of other great tools along the way.
Your second step can feel like the biggest because so much happens in a relatively short period of time, although it’s all paperwork really.
First you choose your brand’s legal structure relative to Idaho benefits, then you incorporate and in the process lots of other steps are taken like securing your name through filing it with the state. Consider working with online incorporation providers if you don’t have/can’t afford conventional legal help.
Take Action: As this part of starting a business can be rather sensitive, we’ve developed quick-guides for the most popular entities if you want to skip over to those.
Okay, so depending on your specific legal structure and the type of business you’re in, there are a number of variables here. For example, you may need to register with other states, local agencies, state-level departments like the Department of Labor, etc. This is where working with incorporation providers really comes in handy because they’re accustomed to sourcing all the right paperwork within typically about 24-48hrs.
Take Action: Start with the Idaho State Tax Commission’s Businesses section on Idaho.gov. They’ve got links to all the information you’ll need including access to online services and an explanation of their system.
The regulatory environment in Idaho is increasingly startup-friendly and not near as complex and mind-blowing as the many different landscapes, from farmland to something more akin to an alien world around Craters of the Moon National Monument. Once you dig in, tackle the red tape, and pay the fees it’s over. Go visit Bittercreek Alehouse to celebrate.
You want your financials to sing like wood and strings in the hand of an expert fiddler, right? Great, half the job is separating them from any and all personal accounts, streamlining/monitoring with good software, and centralizing in a good banking institution.
Idaho is a central northwest location with doorways to WA, OR, NV, MT, WY and Utah. Because of its geography most of the action is either happening north of the state’s national forests in Coeur d’Alene (by the lake), or south around the Boise/Nampa area on eastward towards Twin Falls and Idaho Falls. But wow, with over 4 million acres of explore-me-land, there will be plenty to do to stay in shape and during work-breaks!
Take Action: We know picking a spot can be tough if it doesn’t somehow happen naturally through your personal/professional networks. If you’d like to brush up on everything that goes into making this decision, refer to our friendly guide on How to Choose the Perfect Location.
Your business is going to need capital like Idaho needs fry sauce once it reaches a certain level of success. You know how we as human beings are over 80% water? Yeah, well, businesses are over 80% financials. What matters is how hungry you are and what you’re willing to do. Idaho has every option there is – CrowdFunders, social/conventional lenders, startup networks, grants and county/state-level programs, etc.
Take Action: The email course we mentioned in Step 1 really comes in handy here because planning and finances go together like white water and huckleberries. You can also browse our guide on How to Finance a Business to start generating ideas.
Getting a great domain and setting up your digital shop/agency site doesn’t have to feel like peeling a mountain of potatoes anymore. There are platforms now who’ve streamlined the process and integrated all the right aspects into great systems – responsive/customizable themes, connecting designers and startups, secure payment, great dashboards, etc.
Take Action: If you could use some help in this department the first step is finding the right platform, which thankfully there aren’t too many yet. Head on over to this easy Business Website Builder Guide to get a head start.
Let’s be frank with one another, there are no rules in marketing anymore. Well, there are laws, but in terms of methodologies it’s all a roll of the dice. The keys are often found VERY close to home in most success stories though, right?
Take Action: Before heading online to reach out to strangers in rather impersonal ways, be sure to look at your current personal and professional networks. And those of your team as well if you’re not a solopreneur.
At this point you’re the proud owner of an official brand, well done! Now you got to keep on your toes, because the journey’s just begun. Please keep Startup Savant in mind, in your professional Rolodex of reliable sources of valuable information from fellow change-makers as well as savvy tools.
Take Action: Tap into our weekly newsletter filled with tips, tricks, lessons, and inspiring stories directly from ambitious professionals like you.
Out of all the resources available to help you start a business in Idaho, here are the two we believe in most. With IncFile and LivePlan, you'll take the first steps toward bringing your idea to life and having a solid plan behind it.
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