How to Start a Business in 8 Hours: A Step-by-Step Guide
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Starting a business can be daunting if you’re never done it before. When you sit back and think about everything you need to get done before you can launch, the resulting feeling of overwhelm can be enough to make you put it off another day. This is your sign to stop stalling! With the right research, helpful resources, and a little willpower, you can start a business in the span of a 9-to-5 workday.
Here’s a quick guide from AJM Associates through our Guest Blogger at BizWealthBuilder to help you break down your business launch into manageable chunks—and get it all done in one day!
9:00am - 10:00am Generate a Business Idea
Your first order of business is to generate a business idea. Try to come up with something that you can execute today, so steer clear of ideas that require significant funding. Feeling stumped? NerdWallet suggests 44 business ideas you can bring to life right away! For example, you can do social media marketing, SEO consulting, freelance writing, photography, tutoring, online fitness training, life coaching, or dropshipping, just to name a few. Think about where your skills and interests lie and try to land at a business model that intersects both.
10:00am - 11:00am Write a Business Plan
Once you’re clear on your business idea, it’s time to write up a quick business plan. If you’re not seeking funding for your business, your business plan can be simple and informal. In fact, Bplans explains that you can write a business plan in less than an hour! Your business plan should include one sentence that describes the unique value you provide to customers, the market need for your product and service, and basic information about your competitors, marketing plans, budget, and sales goals.
11:00am - 1:00pm Establish Your Online Presence
Now it’s time to build a website and get your business online. Choose an affordable hosting company, buy your domain, and throw together a quick website using a website builder like SquareSpace or Wix. Next, your business will need a logo. Instead of paying a graphic designer to do this for you, consider using a low-cost service to design a professional logo on your own. For example, online logo makers let you choose a template and customize it with your images and fonts. Learn how to combine PDFs into one file so you can store and review your graphic designs more easily.
1:00pm - 2:00pm Register Your Business
In most states, you can register your business online. But first, you’ll need to decide what kind of business you want to create—a sole proprietorship, LLC, corporation, partnership, or nonprofit. When you register your business, you’ll need to provide your business name, address, and the type of business you want to establish. Next, visit the IRS website and apply for an Employer Identification Number (EIN).
2:00pm - 3:00pm Reach Out to Freelancers
If you need people to help with your business, now is a good time to start talking to freelancers. Look for a reputable marketplace or niche platform where you can find freelancers specializing in the kind of work you need help with. Networking is also a good way to find high-quality freelancers, so reach out to other business owners in your network for referrals.
3:00pm - 5:00pm Develop a Marketing Plan
Developing a marketing plan may take longer than a couple of hours, but you can get a good start on it before the day ends. First, get clear on your target market. Who exactly do you want to target with your marketing campaigns? Once you’ve researched your target audience, outline a few strategies you can use to connect with them and start building engagement.
You don’t need weeks or months to start a business. With the right tools and a strong work ethic, you can tackle the entire business startup process in as little as 8 hours. If you have a free day on the horizon, consider dedicating it to the launch of your new venture!
Offering employee benefits is a great way to secure top talent for your business. Contact AJM Associates for advice on selecting and managing employer-sponsored group benefits programs. Call (248) 778-6070
Article by Guest Blogger Cameron Ward at BizWealthBuilder