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Registering Your Business

Okay, you've come this far. Take a breather and give yourself a pat on the back. Many businesses fail to even get started because the owner either decides it's too much work or they lose interest. If you're this far, you're obviously ready to get the ball rolling. So here goes?

Get all the forms filed

If you're forming a sole-proprietorship, be sure to get it registered with the county. The form(s) takes about 2-3 minutes to fill out and costs a few bucks so it shouldn't be a big deal.

Set up the business so that it's efficient

You'll need to find a way to minimize the amount of work required to run the business. For example, if you have an internet business, you'll want to find a way to make the site pretty self-sufficient so you don't have to sit at a computer for 12 hours/day keeping the website up-to-date. When TeenAnalyst.com was first started, it took many many hours each week just to keep it up and running. Nowadays, it's pretty turnkey.

Prepare all the paperwork ahead of time

If you plan to have paperwork and whatnot for your customers to fill out, have it ready ahead of time so that you look like you know what you're doing. For example, I run a web design business. Before I even talked to my first client, I had already created information packets and order forms to present to my customers. Trust me, being organized really pays off!

You might also want to create some business cards. A lot of places offer to do it for you for a certain fee. But they usually require you to print a couple hundred business cards. Unless you plan to be ridiculously successful, I think you should just go to a local Staples or something and buy the kind that you make on your own computer. I've done that for the past few years and it really pays off. From time to time I'll change my e-mail address or I'll want a new phone number listed on the business card so by only printing out 10-20 at a time, I've saved myself a lot of money because I won't need 200 professionally reprinted.

Open up shop and get the word out

Okay, now it's time to start the business. If you have your own store, open up the doors. If you have a website, launch the website. If you're making something and selling it from home, start doing that.

Be sure to tell everyone you know that you have a business and tell them what you do. If each person tells a few people then before you know, people will become interested. In high school, I created a business and told only a few people about it. I would say that I told about 5-10 people in the entire school of 1600. Those people continued to tell other people about my business and how successful I was and now, as a senior in high school, I would say that about 50-75% of the students know about my business. And the beauty of it all: I didn't have to pay a single dollar for that kind of advertising.

With your business started, you're one step closer to being a millionaire. But this is just the beginning...the true excitement lies ahead.

 

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