reviewer ulet Flashcards
way to gather information about potential customers and businesses already operating in your area
marker research
is there a desire for your product or service?
demand
how many people would be interested in your offering?
market size
what is the i come range and employment rate?
economic indicators
where do your customers live
location
how many similar options are already available to consumers
market saturation
what do potential customers pay for these alternatives?
pricing
its a roadmap for how to structure, run and grow your business
business plan
if you dont have that amount on hand, you’ll need to either raise or borrow a capital
fund your business
one of the most important decisions you’ll make, research the best place to locate your business
pick your business location
legal structure you choose for your business will impact your business organization requirements
choose a business structure
4 different ways to register your business name
• entity
• trademark
• doing business as (dba)
• domain name
protects you at state level
entity
federal level
trademark
doesn’t give protection but a legal requirement
doing business as
protects business website
domain name
once you’ve picked the perfect business name, its time to make it legal and protect your brand
register your business
the licenses and permits you need for your business will vary by industry, state, location
apply for licenses and permits
a small business checking account can help you handle legal tax and day to day issues
open a business bank account
business banking offers limited personal liability protection by keeping your business funds separate from your personal funds
protection
customers will be able to pay you with credit cards and make check out to your business
professionalism
ways to find your capital needed
- self funding
- loans
- investment
