Ask Mike Shew for Small Business Owner Advice. Mike is a 5-Time Past Business Owner.
There's much to see here on Small Business Advisor such as: How to Start a Business. So, take your time, look around, and learn all there is to know about small business. We hope you enjoy our site and take a moment to become a monthly donor.
Know your potential customers and competition, and this would be a great time to complete a S.W.O.T. and a P.E.S.T.E.L. both in our drop-down menu. Do not forget your market research this is also a very important step. Once your market research and analysis are complete finish your business plan, so you have this next step completed with 5-year financial projections. Please go to our drop-down menu and search for our business plan template for guidance. Plus, look at strategic planning in our drop down menu for planning ideas.
Research these potential entities. Sole Proprietor, Corporation LLC, Inc, or S Corp. Pick what's best for you! Go to IRS.gov and get your business FEIN #. As a Sole Proprietor, you can use your social security number instead of an FEIN or Federal Identification Employer Number
Now you can retrieve your city business license and apply for your state sales tax ID number through your state's department of revenue.
Pick a domain name like diamondpieces.com or something your new customers can find you on the web and your current customer will not forget. I would have selected smallbusinessadvisor.com for this site if it had not been on sale for $50,000.00 US Dollars! WOW!
Start at the kitchen table to begin and make money from what you are doing until you need crazy space. You will have two sets of bills to pay once you turn a key on a space. Bills at home and bills at your business, and you do not want to worry about paying payroll because you are short of money.