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Tuesday, September 27, 2011

Establishing the Business Right Way – From Business Name to Online Fax

You can start the business of your choice, as long as you comply with the formal requirements needed to set one up. Before you finally embark on the arduous task of creating and running a business enterprise, you should make sure you are fully prepared. All kinds of organizations, anything from a simple trading business to online fax services, are obliged to conform to certain standards and take necessary steps. The following is a list of priorities to keep in mind as you embark on your business venture. 
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The first priority is to select a business name. It has to correspond to the type of industry you have chosen. It should be one-of-a-kind yet unpretentious and direct, a name that customers will be able to easily connect with your business. Elaborate names are sometimes difficult to remember. It is better to go with a simple name that will be easy for potential customers to remember. 
Your second priority should be to set up a domain name. You can go to GoDaddy.com or similar sites to check for the availability of your chosen name. If it has not been taken yet, you can register it as yours and pay for it. You can also select domain name variations and different bandwidth sizes.
The third priority is to establish the company’s business space. You should, as much as possible, avoid using your personal space as your business space. Using your personal contact details such as fax numbers, telephone numbers, email addresses, and mailing address for business purposes might cause difficulties as you grow and need to change your business space.
Having a business email address is of great importance. It is one of the major ways for your customers to contact you. You may prefer web-based email services like Gmail or Yahoo! Mail. Linking your email account with a web hosting service like 1&1, Yola, or GoDaddy can also be a good choice.     
The fourth priority is deciding on the type of business structure you believe is best for your company. The majority of business owners prefer the Limited Liability Company (LLC) structure. This is because LLCs receive tax benefits in the same manner as partnerships and limited liability privilege in the same manner as a corporation. Aside from the LLC, these are other types of business structures you can choose from: single proprietorships, general and limited partnerships, and corporations.
With an LLC, you have to acquire an Employer Identification Number or EIN. You will need this when opening up a company bank account, taking out company insurance, or applying for a loan.   
The last priority is for you to form and foster relationships. Forming a relationship with your patrons is vital to the success of the business. Acquiring clients, the lifeblood of any enterprise, requires planning and strategy. One of the most effective marketing strategies is email marketing. You may use the services of Benchmark Email and MailChimp to begin your email marketing campaigns. In addition to email promotion, business cards are an excellent way to market your business in person.
Managing a business can be challenging. It involves a lot of preparation and paperwork. And you may become frustrated when it comes time to pay your taxes. If you keep the above priorities in mind, you will give yourself a head start. More information about making your business venture a successful one is available at www.ChooseWhat.com.

1 comment:

  1. I wonder if choosing the domain name should be part of the step of choosing the name, just in case that domain is already taken.

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