10 Simple Steps
To dramatically increase the odds you’ll get the most out of your business, kick things off by building a game plan that hones in on your pitch, irons out a structured executive summary, creates initial budgeting forecasts, addresses ideal markets, and so forth. It’s so much easier than it might sound, especially when you work with savvy-modern planning software.
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.
The next step is to protect you, your personal assets, and your brand by making it possible for you to enforce contracts under the law. It’s called incorporation, and the good news is that parts of steps 3 (taxes) and 4 (licensing) tend to get tossed in because they all mesh together. Investigate the common types to see which suits your ambitions best and provides the most incentives relative to Missouri regulations.
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.
Now that your brand’s an officially registered brand with the state you can get your tax ID and get any other obligations dealt with. Many of these little micro-steps are required to get proper permits and licensing later on.
Take Action: If you’re doing this on your own, bookmark the Missouri Dept. of Revenue website which has all the information on New and Established Business Taxes to get you started. Might be prudent to bookmark their Business Tax Registration page as well.
Unlike the network of more than 6,000 different caves in Missouri, the state’s regulatory environment is startup-friendly in an increasing amount of ways as its population is trending towards a younger more progressive electorate. Depending on what business you’re going in to, it could be easy or a bit complex. Either way, afterwards partake in some fresh vino from Chandler Hill Vineyards (Missouri leads the nation in wine production).
Easiest part! Yep, take a day or so and do your homework on which banking institution makes the most sense in terms of location and overall benefits. You want your financials in one central place completely separate from personal accounts of any kind.
Did you know Missouri rubs shoulders with eight different states, it’s two biggest cities (St. Louis and Kansas City) are on east and west borders, yet it’s sporting more beaches than California? Yep, you can thank all the lakes and rivers for the over 1,150 miles of shoreline. So you better like water! And turkeys because there are more turkeys than people in the state.
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.
They say in Missouri, other than BBQ sauce all you need is ketchup mustard, salt and pepper. They like to keep it simple, most of the time anyway. So don’t let the funding monster swallow you whole. There are tons of options today that means far less debt, far less stress, and far fewer strings attached. Social Lending and CrowdFunding are two.
Take Action: The email course we mentioned in Step 1 really comes in handy here because planning and finances go together like cows and tipping. You can also browse our guide on How to Finance a Business to start generating ideas.
No one’s insinuating your website needs to be as well-designed and magnificent as the Great Arch in St. Louis. But your website does need to be there to serve as the digital gateway to your brand where people can investigate, engage, contact you, and share what you’re up to with their own networks.
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.
There’s a ton to be learned about marketing if you pay attention to the Missourian BBQ movement (condiments!), which is especially huge is Kansas City, and how it interacts with their local/county-level breweries and homemade beer brewers.
Take Action: No brand is an island unto itself. Who do you intend on partnering with? Who would work well with your brand that already commands a lot of your niche’s attention? Networking is just as powerful for your brand in terms of B2B and is it B2P.
Startup Savant would like you to consider adding us to your Rolodex of useful and reliable sources of not just motivational content directly from fellow change-makers, but savvy tools and plenty of brain-fodder to keep you on your toes. It’s our pleasure and a privilege indeed.
Take Action: Tap into our weekly newsletter filled with tips, tricks, lessons, and inspiring stories directly from ambitious professionals like you.
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