Hi Seller Community! 🎃 Today we're wondering...
What’s the first thing you did when you decided to start your business?
Can't wait to read your replies 🤓
Seller Community Manager, Square
Learn about the Super Seller program!
Meetings with our Lawyer and accountant. Figure out what is the best way for your business to be setup and getting the correct S corp or whatever paperwork filed with the state, and all the paperwork tied to that status. Starting out wrong can end up biting you back in taxes if you aren't filed and setup correctly.
I decided on what legal type of business it would be and my business name. With that I could register my business with the state and get an EIN number. This enables me to get a bank or credit union account set up and start tracking expenses since these are often larger amounts that you want to track well before you make your first sale.
All the rest - business plan, logo, site, web domain, etc can follow.
Borrowed the capital to buy an existing business. From there, I knew the tech and POS had to be updated from an outdated software based POS to an online/mobile app that could handle sales, inventory management, payroll, and work offline when the internet goes out. After that decision (Easy! Thanks, Square!), it was a re-branding and marketing, marketing, marketing.
Here's what we did:
* First decided on our Business Name.
* Then searched our State's info to see if the name was available.
* Next we registered our business name with the State.
* We decided on going with an LLC - this keeps your personal life separate from your business life.
* Contacted an attorney for assistance with setting up the LLC - safer than doing this on your own, but can be expensive.
* Picked a Domain Name for our website.
* Found a location for our physical location and applied for all the necessary town related permits as we had to do some remodeling.
* Applied for a State Tax license and local Business license.
* Met with a sign company who created our physical signage and business logo.
* Contacted our local paper to make some opening ads.
* Setup our website and setup several social media accounts.
* Opened a Square Account to process credit card sales.
* Purchased all the necessary Square Hardware - iPad, Stand, Printer, etc.
* Setup a Square Online Shop and linked that to our website.
It took some time but, hey we're now a physical and online business - now almost 9 years old and still in business - not bad for being a small business in a Mountain Resort Town.
I love this story @JK_Fiber_Art ! A set of steps from 0-9 years 😮
Maybe she can share the link here so you can check it out.
Great reply JK...This is prescisely what we did as well and a fabulous overview....we opened our Inn and unfortunately used another credit card processing site until we found Square (Square is soooo much easier to use and has great reports if you are a numbers nerd like my partner for following data year over year or breaking down sales) Good luck and Congrats Isabelle !!
Very similar to what we did, but the LLC part came a little later in our process. We were just focused on seeing if we had a business that would eventually scale. Once we saw it was growing, we began the process of becoming an LLC.
- Check on Business Name.
- Get insurance
- Sent a proposal
- Get 50% Deposit.
- Do a GREAT job.
- Referrals have been coming for over 30 years.
- Square came many years later and has been a great tool to handle my customers.
Love to have my own business!
Made sure i filed the company correctly called and got forms and payments arranged. Ein filed that's employee identification number made sure i picked the rite type of business LLC and its domain. fed tax identification #
It was 2013 at Thanksgiving and our family was sitting around the dinner table contemplating and discussing our idea of opening a Create & Paint Studio. The first step after agreeing on the idea was to give it a name. We decided that we wanted something that was happy and positive and depicted taking a lump of clay into a beautiful vase or a blank canvas into a beautiful masterpiece, as well as the feeling you get when you are brimming with excitement. Burst Of Butterflies became that name. Like a Burst Of Butterflies fluttering in your tummy when you are excited, and a caterpillar turning to a beautiful butterfly. The next steps, of course, were business plan, licenses, and finding a building.
Sign in and click Mark as Best Answer if my reply answers your question!
Burst Of Butterflies Create & Paint Studio