Once you’ve made the decision to start your creative business it’s time to make it official! You’ve decided what you’re going to sell. You picked a name you love. So what’s next?
There is nothing like doing something the right way from the beginning. When you choose to start your own business it’s important to set yourself up for success. Today, we are going to talk about the 5 Ways To Make Your Business Official!
Once you have your name selected it’s time to get registered with your state. Each state has its own process for selecting and registering your business. This process will include choosing a business entity that works for you.
My biggest suggestion is to use Google on this one to find the best fit. The most popular for creative small businesses is an LLC. This is what I have for both of my businesses. One great benefit of choosing an LLC is that your personal assets wouldn’t be liable if you ever got sued. Not that anyone plans for this to happen but it’s better to prepare right? This is one of many great benefits.
The registration process starts with completing the Article of Organization. You can find this form on your secretary of state website. The turnaround time for this process is usually pretty fast.
You will receive a certificate showing that you’re registered in your state. Be sure to keep all the documentation that you get in a safe place for reference in the future.
This process will also include making sure that the name isn’t already registered in your state.
The cost of this can vary depending on your state, so take a look at your secretary of state website to learn more.
After you register and you’re solid on your business name lock down your name on everything!
Get your domain name through a host. My favorite and the one that I use is Bluehost, but there are many amazing ones out there.
A domain name typically costs under $20 a year which is amazing!
Even if you don’t plan to have a website right away (which you should) lock the domain name down anyway. I have seen time and time again where people wait and when they go to get it it’s taken. Don’t let that be you!
It’s also crucial to lock down your social media profiles. Get them all even if you don’t have plans to be on them right away. Better to be safe than sorry.
Sign up for profiles such as Instagram, Facebook, Pinterest, TikTok, YouTube, Twitter, LinkedIn, to name a few..
After getting registered, the next step is to get an EIN number. This is obtained on the IRS website. This number is like the social security number for your business. It can help you with tax benefits, memberships, bank accounts, and more! It’s a great thing to get set up early on and it’s free to get!
The application process is simple. At the completion of it, you will receive a document with your number on it right after hitting submit!
No long waiting here!
Is the fear of the unknown stopping you from taking action? Join the waitlist for The First Ten training! A live 90-minute training where we work through a roadmap of the first ten steps to starting your creative business and launching your first product. Dates will be announced soon!
Once you’ve gotten your EIN number, it’s time to gather all your paperwork and open a business bank account. Even if you haven’t made a dime it’s great to get this set up as early as possible.
A mistake I made early on in my business was not having an account for business. This led to confusion with my income and expenses for my business ending up in my personal bank account.
Save yourself the headache at tax time and get a business account. Research the best business bank accounts in your area and open one up!
Typically, the bank will tell you what documents you need. Make sure to take your driver’s license, registered certificate (i.e. LLC), and an EIN number.
You’ve got everything you need to get official in your first steps. So now what? Tell the world! Even if you are still in the very beginning stages of planning your launch strategy, announce it!
Share that you are the owner of ________________ Company!
Make it official and own it!
This is a great way to hold yourself accountable because you have shared your intentions.
You are on your way to starting the business of your dreams, celebrate that!
I hope these steps get you started with your business. You can do anything you set your mind to. Don’t let a few steps stop you!