Start With The Easy Stuff: Eliminate Expenses
- Don’t rent an office! - work from home. Or better yet work from the best free office with locations everywhere: Starbucks. If you need to meet with a client and are worried about seeming small time without an office, don’t be. Just meet them at a restaurant for a lunch meeting. This is what people with the nicest offices do anyway.
- Don’t hire any employees! - do it all yourself until you have some $ coming in the door.
- Don’t hire lawyers, technical people, graphic designers, or assistants (see below)
Legal Stuff and Incorporating
- Get a free lawyer and legal advice from the mentors at Score.org
- Find a website with a similar legal document and modify it to your needs
- An LLC is probably the best business structure, but don’t worry about incorporating until you’re earning money, just do a sole proprietorship, you can always incorporate later (you can get it setup with the IRS in just a few minutes by calling them at 800-829-4933)
- Learn how to do your own financial statements for your business in Excel instead of hiring a CPA or bookkeeper (again you can do this after you’re making money)
- Take a Quickbooks class at your local community college
Make a website for your business
- Don’t pay a premium for a top end domain name, there are plenty of good ones left
- Test out your ideas by writing to a blog, you’ll get feedback on what people like and don’t like
- When you’re ready to have your own domain, register it at domain.com and add this as a custom domain to your Wordpress or Tumblr site.
- Get a professional website design for free with a wordpress theme that you can install with a few clicks (no programming knowledge needed)
Getting a Logo
- Don’t hire a fancy graphic designer. At least not yet. Use LogoYes to create your own logo (or at least get ideas that you can recreate on your own for free)
Accepting Credit Cards
- For a more professional look and a complete shopping cart for only $5/month use E-Junkie, its great and I use it on this site
- If you have lots of physical products, try a Yahoo Store
Tags: Start a business, Best ways to start a business, Tips to start a business