10 Steps to Starting a Business in Atlanta, Georgia
Starting a business is not as difficult as keeping a business going. Business is not easy and you must be determined and have good advice. Here are some steps to consider when starting a business:
STEP 1: Write a Business Plan
- Executive Summary – this is an overall summary of your business.
- Company Description – this is a description of what you do.
- Market Analysis – this is the results of your research of the target market.
- Organization and Management – this describes how your business will be structured, by whom and details the qualifications of the leadership
- Services and Products – this is a description of the products and services you offer
- Marketing and Sales – this describes how you plan on marketing your products and services, who the target audience is and describes your sales strategy
- Financial Projections – this details the amount of money you have to begin your business and the amount of revenue and expenses that you plan on generating
TIP: Your business plan should include the who, what, why and where. This sounds pretty easy but you must be able to answer each one individually before you even begin
- Who is going to be in business with you?
- Who is your target audience?
- What are you selling?
- What is your price point?
- Why are you offering this product or service?
- Why is your product or service in demand? Does your product or service solve a problem or a need?
- Why will your clients choose you over the competition?
- Where will you offer your products and services?
- Where will your office be located?
- Where will get employees and customers?
STEP 2: Get Expert Assistance and Training
You should seek the advice of a business and marketing consultant, such as ADS Marketing Group, who will review your plan and challenge your thinking. This is especially important when reviewing your market research and your marketing and sales strategies.
STEP 3: Determine the Legal Structure of your Business
This is very important and you should speak to a Certified Public Accountant and a business attorney before setting-up your company in the State of Georgia. You should have a company and not a sole-proprietorship due to the huge personal and financial risks of running a business. There are many resources online and ADS Marketing Group can help you establish a Limited Liability Company after you have received legal and accounting advice. The cost to establish your LLC is $199.
STEP 4: Choose a Business Location
When choosing a business location, consider the fact that location is everything! Some business owners in Atlanta will go for the trendy expensive location and others may choose the cheapest location but the real choice should be a location that is easy for customers to find, if they come to your locations, and a location that lends to your sales and marketing efforts. For example, if customers travel to you to purchase your products and services, you want to consider how many turns they have to make off of a major thoroughfare, the traffic count in front of your locations, parking, lighting, accessibility and viability.
You do not want a cheap location that will cost you triple the advertising cost to get customers to consider your business and you don’t want an expensive location that only you will use. You must also consider zoning, signage, safety, parking, access, cost of utilities, access to high speed internet, competitors, neighbors, and appearance. You must also consider the cost of renovation, construction and moving into your new location.
Finally, you need expert legal advice before signing a lease or purchasing a location for your business.
STEP 5: Register your Business Location
Before operating your business, you will need to register your business with the City, State, or Federal Government, depending on the type of business, and obtain necessary inspections, permits and licenses required.
STEP 6: Obtain Insurance
You will need insurance to protect your business, business location, and employees from many types of perils that can occur. In addition, you most likely will need Worker’s Compensation Insurance under Law.
STEP 7: Market your Business in Advance
New start-ups are usually underfunded when it comes to marketing and advertising your business. You will need to market and advertise You will need an expert to help you choose the right marketing, branding, strategies, and advertising. To get the most bang for your buck, contact ADS Marketing Group in Atlanta, Marietta and Kennesaw Georgia for your Small Business Marketing needs.
STEP 8: Prepare to Conduct Business
All forms, legal guidelines, processes and formats should be well thought out and in place prior to hiring and training staff. If you do not have a process or a plan, you are not ready to succeed.
STEP 9: Hire and Train Staff
Hiring the right staff is very important and you must consider that employees will represent your brand and be your voice. Training is also important and must be concise and repetitive. You must also understand employer responsibilities and legal guidelines.
STEP 10: Conduct Business and Continually Revise your Business Plan
I look forward to talking with you soon, 770-475-9187.