Sep 5 • Credit/Business Strategies
🚀 Journey to Success: Step-by-Step Foundation for Business Building
âś… STEP 1: BUSINESS PLANNING
Start with your vision and validate your business idea.
Tasks:
- Brainstorm a viable business idea.
- Conduct basic market research (target audience, competitors, pricing).
- Write a starter business plan (lean one-pager is fine).
- Choose a business name that is:
Tools:
- Lean Business Plan Template (PDF)
- Business Name Generator
âś… STEP 2: BUSINESS IDENTITY
Establish the foundational digital and legal identity of your business.
Tasks:
- Register a domain name (e.g., GoDaddy, Namecheap)
- Create a professional email address (e.g., [email protected])
- Secure a physical or virtual business address
- Set up a dedicated business phone number(Google Voice, RingCentral, Grasshopper)
Tip: Ensure your name, phone, address, and email are consistent across all platforms (NAP consistency).
âś… STEP 3: BUSINESS REGISTRATION
Make your business official and legal.
Tasks:
- Register your business with the Secretary of State in your state.
- Apply for your EIN (Employer Identification Number) via IRS👉 https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online
- Create Operating Agreement or Bylaws (LLC or Corp)
- Decide your Entity Classification (LLC, S-Corp, etc.)
Templates:
- Free Operating Agreement Templates (PDF/Word)
- LLC vs. S-Corp Comparison Guide (PDF)
âś… STEP 4: BUSINESS BRANDING
Build your brand's visual and digital presence.
Tasks:
- Complete a Brand Strategy Worksheet (values, tone, audience)
- Get a professional logo (Canva Pro, Fiverr, Looka)
- Create a website (Wix, Squarespace, WordPress, Shopify)
- Set up social media profiles (IG, FB, TikTok, LinkedIn)
- Create marketing materials (digital & print)
Tools:
- Canva (Brand Kit & Templates)
- Looka Logo Maker
âś… STEP 5: BUSINESS CREDIT
Start building business credit that’s separate from your personal.
Tasks:
- Set up Experian Business & Equifax Business profiles
- Apply for DUNS Number via Dun & Bradstreet👉 https://www.dnb.com/duns-number/get-a-duns.html
- Open Net-30 vendor accounts (e.g., Uline, Quill, Grainger)
- Monitor credit with NAV or CreditSignal
Resources:
âś… STEP 6: BOOKKEEPING
Track your business finances professionally from Day 1.
Tasks:
- Open a business bank account (separate from personal)
- Choose bookkeeping software: QuickBooks, Wave, or FreshBooks
- Set up chart of accounts and connect your bank feed
- Reconcile transactions monthly
- Track 2 years of financial records
Resources:
- QuickBooks Setup Guide
- Wave (Free Accounting Software)
âś… STEP 7: BUSINESS CONTRACTS
Protect your business with the right agreements.
Tasks:
- Register at SAM.gov for government contracts👉 https://sam.gov/content/entity-registration
- Create a Better Business Bureau (BBB) Profile
- Draft key business contracts (service agreements, NDAs, client onboarding)
Templates:
- Service Agreement Templates
- NDA Templates (PDF/Word)
âś… STEP 8: BUSINESS PROTECTION
Ensure legal and financial protection.
Tasks:
- Get Business Insurance (liability, errors & omissions, etc.)
- Register your Trademark via USPTO or LegalZoom
- Consider setting up a Business Trust or Holding Company
Links:
- Trademark Registration – USPTO
- Small Business Insurance Options – Next, Hiscox, Thimble
âś… STEP 9: BUSINESS MAINTENANCE
Stay compliant and audit-ready.
Tasks:
- File Annual Reports (varies by state)
- Keep business licenses and permits up to date
- Maintain accurate books and tax filings
- Renew domain, business name, and insurance regularly
- Stay compliant with local, state, and federal regulations
Maintenance Tools:
- Harbor Compliance Entity Manager
- SBA Licenses & Permits Guide
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🚀 Journey to Success: Step-by-Step Foundation for Business Building
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