It is common to hear people start small businesses because
they want to offer what they specialize in or are passionate about. This is a
good reason. However, there is a lot to operating a business than one may
In addition to being passionate about the business, it is also vital to consider what it takes to support a business, such as finance, administration, human resources, marketing, sales, and product development. These areas will be covered another time. For now, Gigi Instructive will give you some basic resources and insight to help guide you before you flip the sign to “Open”.
The Business Resource Center is here to help you find answers and resources, develop strategies, solve problems and get guidance with business, marketing, sales, financing, management, growth opportunities and more.
Do not be shy to call your local city, state, and federal governments to ask questions. They are a vital resource and can be very helpful with answering questions.
These tips are the minimum to have in place prior to
opening your doors:
Use the above resource for guidance and support.
Establish a business name and at a minimum, file it with your State as an entity.
Research sole proprietorship, independent contractors, limited liability corporation (LLC), S corporations, and corporations.
Understanding on the similarities and differences to decide which will be best for your business.
Legal and tax considerations enter into selecting a business structure.
Secure a website domain with your business name.
Obtain any permits, licenses or certificates needed for your business to legally operate.
Obtain business insurance.
Establish state and federal tax accounts needed for your business type.
Obtain a business accountant.
Obtain a business lawyer.
Employees vs contractors- learn when to utilize each option.
These tips are the basic bones needed to start a business. They do not cover marketing, accounting, or sales operations. There is a lot to consider with operating a successful business. Gigi Instructive encourages you to utilize the resources available to help you succeed and enjoy the business that you are passionate about.
Gigi Instructive offers personalized services designed to help small business owners define and achieve their business goals.
Our coaching and consulting services are optimal for established companies that have typically been in business for 3 to 10 years, where workflow and process updates are most needed.
We offer flexible terms, from simple hourly rates to longer-term retainers, which are designed to fit your budget needs, rather than billing by project or via a subscription program.