Register your business in the state where it was formed — and make sure that you’re set up to pay state income and unemployment tax. Review whether your local municipality requires filing for a license or permit to operate your business. To satisfy Uncle Sam,apply for an EIN from the IR...
How will you enable investors to reap the rewards of backing the business? Do you plan to sell the business to a bigger company eventually or take it public as your “exit strategy”? How to write a business plan in 11 steps This step-by-step outline will make it easier to write an ...
There’s no one formula for scaling a business, because every business—and founder—has unique strengths and challenges. Scaling up a clothing business, for example, is going to look different from scaling up a skin care empire. But there are some common threads to consider: 1. Make a pl...
Many local governments design special credits to help small businesses grow faster. You will need an EIN if you plan to hire employees or open a business bank account. This will also serve as the tax ID you'll use to pay federal, state, and local taxes. Find an accountant or bookkeeper...
Here’s how you can harness digital advertising to grow your small business. 1. Choose the Right Platform For instance, if potential customers are young, then it would be appropriate to use Instagram or TikTok. However, if it is a professional demographic, LinkedIn can be the place where you...
Your business is growing fast, you’ve overcome the barriers to growth. That's good news, isn't it? If you don't prepare properly, it could spell disaster. How can you up-scale your business as smoothly as possible, and make the right decisions when your business takes off?
To make planning easier, here are a few actions to consider when crafting your business growth plan: 1. Determine your target customers The first step for producing a business plan for growth is understanding your customer base, which includes your current customers and your target market. You ...
Bear in mind that with generic/samey AI content flooding the online space nowadays, and people having shorter attention spans, be sure to make your content: Authentic (genuine, unique to your character) Relatable (no-one wants to do business with an uncaring robot) ...
» MORE:How to grow your small business online Exporting your products or services If you feel you have captured as much of the UK market as possible, you may consider exporting your products or services internationally. Before exporting internationally, you will need to make sure, among other...
Once you’ve pinpointed an ecommerce business niche or idea, it’s time to research and evaluate your potential market. Not only will you learn more about your audience but you’ll also gather the quantifiable data you need to make revenue projections and calculate costs. To understand the ...