The reason Yuengling & Son is the oldest brewing company in America, around since 1829, is because the beer’s amazing and they’ve enjoyed great management – where good planning begins. Your first step is to test your planning skills and see just how much you can get from your business idea. And don’t worry, these days there’s savvy-inexpensive software that can help make the process 10x more effective is far less time.
Take Action: Check out our 100% free Business Planning Guide designed to get you from A-to-Z as pleasantly as possible. Plus, we provide access to tons of other great tools along the way.
With your initial plan laid out and viability levels through the roof, it’s time to protect yourself (house, car, etc) and empower your brand by choosing a legal structure and registering it with the state.
Most entrepreneurs form an LLC because it has all the benefits of a Corporation without the disadvantages like double taxation, board of directors or corporate officers. However if you’re trying to take your company public or raise substantial outside capital, you should probably form a Corporation.
Take Action: Since this step is so important and expensive if it’s not done correctly, we highly recommend investing 10 minutes to go over your options through our business structure comparison guide. You’ll get a better idea of the advantages and disadvantages of each while building a solid legal foundation for your business.
After creating a legal structure and registering your brand name with the state, the next step is establishing your brand’s tax identity. Typically this involves all the basics, including getting your ID number, sourcing the correct forms, etc. Relax, this is easy stuff.Just be sure to do your homework and take advantage of the resource below.
Take Action: If you’re Lone Rangering this, bookmark the PA Dept. of Revenue’s e-Services Center page for businesses.
Unlike the complexities involved in trying to track a single fire fly at night amidst small armies of the beautiful insects, figuring out which licenses you need is pretty simple. PA is very business-friendly which is why so many of their companies are the oldest in America, like The Moravian Book Shop, Shankweiler’s Drive-in, Zippos, C.F. Martin Guitars, and on and on.
In this simple step, just pick a solid banking institution and set up dedicated business accounts for your brand…completely separate from personal accounts of any kind. Leverage those incentives, and then all that’s left is to connecting your accounting software. After that the company’s financial foundation will have officially begun begin its journey.
From Franklin Park and the area around Upper St. Clair, to the endless bustle of Pittsburgh, Allentown or Erie, what a wonderful place to set up shop. So much history and heritage, in every nook and cranny, you’ll 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.
With all the online options to raise capital without much if any debt or high interest rates (CrowdFunding, Social Lending, etc.) set to one side, inside her borders you’ll also have access to small armies of entrepreneurs, startup groups, VC networks, angel investment funds, county/state-level programs, and more! Don’t be shy.
Take Action: The email course we mentioned in Step 1 really comes in handy here because planning and finances go together like deep dish and beer. You can also browse our guide on How to Finance a Business to start generating ideas.
Other than the Amish folk, just about everyone else in Pennsylvania expects your brand to have its own digital presence. Without one it’s going to be hard to take you seriously. Maybe all you need is a simple one-pager, maybe a sleek and simple ecommerce design? Just make sure there’s a way for potential customers to learn more about your business!
Take Action: The first step is finding the right platform, which thankfully there are a handful of great options. Head on over to our reviews of Wix and Weebly to get a head start. They’re both very reliable, affordable and easy to use. Plus they offer free trials so you can test the waters!
Next time you think about digital marketing and use it to expand the reach of your products and services, remember that the first computer ever used was in Philadelphia, 1946. Pretty neat huh? The point here is that you should never cease getting out there and networking with the people. In many respects Pennsylvania is one of the beating hearts of American capitalism.
Take Action: Wherever you open your doors, start local. Begin generating buzz as close to home as you can. Get involved with your ideal customer’s lives and make yourself known through real contact vs. vapid internet methods before a relationship has been formed.
Last but not least, moving forward after you’ve done all that it’s about staying on top of your knowledge-base and skill sets, and keeping yourself/your team motivated.
Take Action: Consider adding Startup Savant to your toolkit of reliable resources because if anyone knows and understands what you’re going through it’s our community. See for yourself by following us Facebook and Twitter for daily interviews with fellow change-makers.