10 Simple Steps
According to the U.S. Small Business Admin, a primary benefit of business planning is it allows you to see your entire platform in a very concise and illuminating way. This enables you to spearhead your focus, set realistic objectives and develop a more effective system of accountability. Without one, you’re flying blind. Without one, it’s amateur hour.
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 has three parts to it: 1) deciding on the type of legal business entity you’re going to create based on benefits, 2) incorporating said entity under the law, and 3) in the process you’ll secure/file your brand name with the state. Good news is when you work with modern incorporation providers lots of this stuff can happen all at once, along with certain aspects of steps 3 and 4.
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.
Folks, we’re literally talking about the “Live free or die!” state where’s there’s no sales tax. And you probably aren’t sitting on a huge tax nightmare unless you plan to open a solar panel installation business or something. If you don’t have legal help, then figure out what fees need to be paid and what forms need to be sent. And, don’t forget to see which credits, incentives, and kickbacks apply because there’s plenty.
Take Action: To get started head on over to the NH Dept. of Revenue website’s Businesses Section where you’ll have access to just about everything you’ll need – including their Taxpayer Bill of Rights!
Unlike the Appalachian Trail, New Hampshire’s regulatory environment is pretty easy to navigate. Chances are your new small business won’t require too much outside the norm – basic license or local operator’s permit, possible registrations, county-specific, and so forth. You’ve got a couple options here so it goes down as smooth as a cool pint from Canterbury Aleworks:
Once branding, incorporation, taxation and licensing issues are in the bag…it’s time to establish your company’s financial persona. Where are you going to open up a business bank account? Who has the most to offer your business relative to your location? And no, please, don’t think of meshing your biz accounts together with your personal accounts. Where you’re personally banking right now might not be the best option by a long shot anyway.
Perhaps you’re thinking of Durham and joining the boom going on since about 2000 where they’ve seen over 200% growth in median income and a 9.2% population increase. Or maybe you’re headed south to Londonderry for the family atmosphere and intend on working from home? Or maybe the bustle of Portsmouth or Manchester? Regardless, you’re going to love it.
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.
Welcome to the entrepreneurial era. New Hampshire has an incredibly healthy VC and angel investor networks, a very modern population…a gem of New England! You’ve got conventional means and social lending, CrowdFunding, local/state-level programs galore and all the tech-amenities you could ask for. What more could you need?
Take Action: The email course we mentioned in Step 1 really comes in handy here because planning and finances go together like sugar and Grandma’s Kitchen. You can also browse our guide on How to Finance a Business to start generating ideas.
Along with astounding advertising and branding potential, your business website is the primary means people will use to investigate your products or services. Come on, we all know this. And these days by working with popular platforms like Wix or SquareSpace, web design is no longer some obscure crazy-complex digital sorcery.
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.
In the beginning as we first enter our niche we always come across as a flatlandah (New Hampshirean for tourist). So don’t get into a mind frame where you think you’ve got to reach the top in your first year. For some solopreneurs and teams that may work, but oftentimes it leads to unplanned and unstructured chaos.
Take Action: Relax, as long as you’re getting closer to your ideal clients or customers you’re on the right track. It’s when distance begins to grow that you need to get back to your plan, assess what’s going on and fix it.
Regardless of what step you’re on, consider Startup Savant a reliable source of valuable motivation and insight from fellow change-makers, along with access to all the best tools. We know what you’re facing and are here to help.
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 New Hampshire, 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.
IncFile is the most affordable online incorporation available. Since 2004, IncFile has helped over 75,000 entrepreneurs incorporate their business on a budget. For $49 + State Fee, they'll bring your business to life by registering whichever business structure you choose.Visit IncFile.com
One of the most important aspects of starting a business can also be the most tedious: the business plan. LivePlan is a business plan software that will walk you through the entire process as it has for 375,000 entrepreneurs across the world.Get 25% Off LivePlan