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5 Foundational Tips to Starting a Business

graphic designer woman smiling at computer in home office

When I got my business license many years ago, I wish my college would have made this apart of their curriculum, or someone would have mentored me or taught me this. Instead, like many entrepreneurs, I learned on the fly with lots of trial and error and it took "getting burned" a few times before I learned "the ropes". 

When I graduated from Western Washington University it was during a large recession. Many companies were not hiring and contract work was all that was available. I guess I was unknowingly smart and got a business license so I could begin writing off expenses and milage. I worked many years designing for others but knew I had a deep desire to call my own shots someday. I learned all I could about all parts of the business at those companies and agencies. From business development to accounts payable and everything in between. 

About 5 years ago, I thought I was in my "dream job". After working there for a year and a half, the company re-organized and I was not apart of their future plans. It was at that moment, I was fed up with not being in control of my destiny and I decided to make a plan to be self-employed. It took two years to build up my own clientele while working a full-time day gig. Eventually, I was working so many hours I was finally able to go independent. 

I now have a great grasp on best business practices, my sales funnel, contracts, proposals, design process, delivery, invoicing, accounts payable and taxes. I've made most of the errors below in the beginning and had to self-correct as I learned.

Here are some great foundational steps to take when thinking about building a business:

Phase one - Foundation

1.  Fill out a discovery questionnaire (I can send you mine)

  • Mission statement, elevator pitch, target demographic etc.

2. Research and discover a great name

  • Think of a business name but make sure you find a simple and easy to remember “.com” domain name. GoDaddy is a great place to look up available urls. You might have to purchase a url from a broker. What kind of money are you willing to spend to secure the url .com you want?
  • Is the name your'e thinking of trademarked or registered? Is this name in your industry? Do you want to compete with this?
  • Also, consider what social media usernames are available

3.  Write a business plan that includes job descriptions, paperwork, operations, marketing and sales process and procedures

4. Get a business license through the Department of Revenue - consider Sole proprietor vs LLC vs S-corp and a trademark yourself through USPTO.

  • Consider a PO box instead of using your home address unless you have a store-front or office
  • Understand your tax requirements and expenses

5.  Define your start-up budget (R&D, sourcing ingredients, product fulfillment, branding, packaging, website, operations, production, logistics and marketing).

Phase two - Process and Procedures

Phase three - Logo, Branding, Packaging and Website

Phase four - Marketing and sales

Phase five - Closing, Working and Building

 

Do you have anything else to add? Did you make any of the errors I made? Let me know how I can help guide you to have a prosperous business. I'd love to connect and create a lasting partnership with you.

About the author

Amber Jacobs

I am a creative woman who has a passion for finding creative design solutions. I’ve worked in the industry for many years and have diverse experiences to help with every stage of the design and marketing process. Based in Seattle, I focus on coming up with creative and professional strategies and solutions for clients, and help them to connect with their audience in more effective ways. With a keen eye for detail and a creative mind, I offer the highest quality design and marketing services. I am also very passionate when it comes to connecting with people and trying new things. So don’t hesitate to get in touch with any questions or schedule your initial consultation today.