How To Launch a Business in One Day in Western Chester County
If you've ever dreamed of working for yourself and launching your own business to pursue a passion, you may be overwhelmed by all of the tasks that must be accomplished to turn your dream into a reality. You may expect to spend weeks, months or even years preparing to start a company, but in reality, you can complete many tasks in a single day. Use this timeline courtesy of the Western Chester County Chamber of Commerce to stay on track.
8:00 AM-9:00 AM Choose Which Products and Services To Offer
Every company starts with an innovative idea for a product or service. Decide which types of goods you want your company to offer. You may want to open a consulting company that offers financial advice for commercial businesses. You may want to start a business selling homemade soaps and other best items out of your home. Regardless of what type of company you want to run, you must first decide what you have to offer the community.
9:00 AM to 10:00 AM Decide On Your Business Values
Decide which values you want your business to hold. This step is crucial for good branding and will allow you to draft a mission statement to drive company growth.
10:00 AM to 11:00 AM Draft a Business Plan
One study found that 33% of startups have a business plan to determine how they grow. This type of document identifies the important aspects of your business and gives you a plan so you can grow the company sustainably.
11:00 AM to 11:30 AM Choose a Business Structure
Business structures are important for determining how your company will receive tax benefits. A limited liability corporation, for example, gives you more flexibility over how you operate your business and protects you from legal liability in case lawsuits are brought against your company. Forming an LLC is tedious and every state has individual regulations, so it is best to hire a lawyer or formation service to make sure you comply with restrictions. If you decide to use a formation service, read reviews to determine which company meets your unique needs.
11:30 AM to 12:30 PM Develop a Pitch for Funding
Every company needs financing to thrive. Decide whether you want to secure a traditional bank loan or approach a venture capitalist for funding. You must then develop a dynamic pitch to convince investors to fund your business.
12:30 PM to 1:00 PM Create a Budget
Determine how much money it costs to stock inventory and keep your company running. You also need to allocate money for advertising and figure out how much to pay employees. Create a realistic budget that helps your business thrive.
1:00 PM to 2:00 PM Gather Business Tools
There are many free and low-cost tools available online to help you run your business smoothly. For example, tracking many documents can be tedious and time-consuming, so you can use a PDF merging tool to move all of your paperwork into one file online.
2:00 PM to 3:00 PM Design a Website
Connect with freelancers online to design a dynamic website. A freelance graphic designer can design a logo that works for your company, while a content writer can produce the copy for the web page. A strong website is essential for building a client base. When you communicate with design freelancers, you’ll likely need to use PDFs. You can figure out how to merge PDF files using a merge tool to add multiple ideas or your logo designs to one file to avoid things getting lost in the shuffle.
3:00 PM to 5:00 PM Start Marketing Your Business
Identify your target audience and start designing a marketing campaign. There are many cost-efficient marketing tools available that can help you spread the word about your business. For example, a social media campaign is a great way to let people know that your company exists for minimal cost and effort.
Start Your First Business Day
There are a lot of steps involved in launching a business. If you stick to a strict timetable, you can complete most of the preparation necessary to start your own company within a single day. Start by getting your ideas down on paper and solidified legally. Then, work with professionals to get your logo, website, and marketing strategy hammered out using PDF tools to communicate more easily. This timeline can help you turn your dream into reality.
Membership in the Western Chester County Chamber of Commerce offers invaluable benefits to entrepreneurs in our community. Join us today!
