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Tips on Starting a Small Business

September 26, 2021

Develop Your Ideas, Build Your Brand, & Take Care of Taxes

Starting a business is both risky and exciting. Fortunately, planning ahead can help mitigate some of the risk and ensure your business is running smoothly. Not sure where to start? Everyone’s process is different, but here are a few ideas to get you started:

  • Develop Your Idea: Write down your ideas and research your competitors. Find out from potential clients if they would pay for the product or service you plan to offer. One of the best things you can do is to ask an industry expert for advice and feedback. 
  • Build a Business Plan: A business plan should include everything from your mission, clients, and goals to nitty gritty market analysis. Do you plan to expand? If so, developing a plan to do so is essential. 
  • Decide on a Marketing Strategy: Do you have a marketing strategy in mind? These days, marketing is a huge part of selling your business to your audience. Think about the logo, fonts, visuals, and words you use. Make sure to build your brand and stay consistent from the beginning. 
  • Find Financing: This may be obvious, but your business plan should include financing. If you don’t plan to finance your own business, think about what type of loan you may want to get.
  • Plan Payroll, Bookkeeping, & More: Make sure you’re in compliance with tax laws and that you keep up with accounting for your business and employees, either on your own or with help from bookkeeping services.

Whether you have one employee or 50 employees, your time is better spent running your business and leaving the small business accounting services to a company with a deep understanding of complex tax laws. No matter the size of your business or how far along the idea is, Follin and Associates, PLLC will be there to assist with all of your bookkeeping needs. We are known as the best small business accountant servicing businesses in High Point, KernersvilleGreensboro, Winston-Salem and Clemmons, NC. Give us a call today to see what we can do for you! 

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Follin and Associates, PLLC | 1222 Eastchester Drive, Suite 101, High Point, NC 27265 | (336) 823-6741

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