By zedcoalam You’ve been sitting on a business idea for a while, but you feel like you never have enough time to focus on laying the groundwork required to actually start your company. However, with a strict schedule, you can open a small business in just one day! If you need a little inspiration from local business owners, Business Brokerage Blogs has you covered. Plus, here’s how to cover everything from choosing a business structure to designing a logo in a single day.
9:00 AM – 11:00 AM: Develop a Preliminary Business Plan
Spend the first part of your day writing up a business plan. This plan should include several sections, including an executive summary, a market analysis, and descriptions of your products and services. You should also lay out a business budget with estimates regarding your expenses, income, and overall revenue.
11:00 AM – 12:00 PM: Select Your Business Structure
In your business plan, you can note your preferred business structure. For example, you may want to establish your business as an LLC to save on taxes while gaining limited liability protections. It doesn’t take long to register your business with this structure so that you can take care of this task on day one. While filing with the assistance of a lawyer can take a while – and require a high fee – you could simply submit your state’s required documents to an affordable online formation service to speed up the process.
1:00 PM – 1:30 PM: Register for a Business Bank Account
In order to manage customer payments, you’ll need a business bank account. It’s a good idea to choose a local bank with brick-and-mortar locations in your area. Inc Authority states that you’ll need to provide your federal EIN, copies of the organizational documents used to register your business, and any required business licenses.
1:30 PM – 2:30 PM: Scout Locations
Scouting locations for your new business is a critical step in laying the foundation for its success. It involves assessing various factors such as foot traffic, accessibility, neighborhood demographics, and proximity to complementary businesses. Choosing the right location can significantly influence your business’s visibility and customer reach.
If you find the ideal spot for your business but it’s located far from your residence, consider the option of finding a rental in the area. Having a place close to your business not only reduces commute time but also allows you to be more immersed in the local community, which is invaluable for understanding customer needs and building relationships.
1:30 PM – 3:30 PM: Create a Basic Marketing Strategy
As a new business owner, you’ll have to invest lots of time in marketing to bring in your first customers. You can dedicate a couple of hours to building out your initial marketing strategy. Salesforce recommends considering how you could leverage email campaigns, social media, content marketing, and pay-per-click advertising to draw in clients.
You can also design a creative logo that helps people remember your business when they come across it! Check this out — by using a free tool to make a logo for business, you can skip hiring a graphic designer and simply create a logo on your own. You’ll just pick the icon and style you want, add any essential text, choose the best logo from the resulting assortment, and adjust the fonts and color scheme as needed!
3:30 PM – 5:00 PM: List Openings for Freelancers
Finally, consider whether you’ll need any help with projects outside of your areas of expertise. Hiring freelancers can be a great idea! Identify any gaps in your own abilities, and write up targeted job listings to share on freelance hiring platforms.
Growing a successful business takes time. But you only need one day to lay the foundation. By following this schedule, you’ll be able to pick your business structure, create a logo, set up a company website, and more!Want to stay up to date on business happenings? Turn to Business Brokerage Blogs! Browse our articles today to learn more about business development.