You’re tired of your mundane 9-to-5 job and have a burning passion for launching your own venture. Many people put off their dreams of entrepreneurship due to the daunting task of building a business plan and the endless hours required to get the ball rolling. But what if we told you that you can get the ball rolling in just eight hours?
Yes, you read that right. Below, North Pacific Accounting explains how you can start your own business in eight hours and turn your passion into a profitable career!
Create a Business Plan (8–9 a.m.)
A business plan is a roadmap for success. It essentially outlines your company’s directions, goals, and objectives. Use the first hour to:
- Research business models;
- Summarize your product or service;
- Identify target customers;
- Plan goals and objectives for the next week;
- And decide the budgets for each department.
This is a crucial step since it will impact the rest of your plans over the next seven hours!
Set Up Financial Accounts (9–10 a.m.)
This is when you’ll create and set up business accounts for your financials. Open a new bank account, set up a bookkeeping system, create financial dashboards (if required), and organize all your financial documents in one place.
Once complete, you’ll have a clear overview of your expenses and profits to make informed decisions. And don’t hesitate to connect with experienced professionals like our team at North Pacific Accounting — we can help you lay a firm foundation for your business!
Establish a Legal Structure (10–11 a.m.)
The next step is to determine your company’s legal structure. Many entrepreneurs opt to form a limited liability company (LLC) due to its flexibility and liability protection. Setting up an LLC can be complicated, but there are formation services available to streamline the process.
These services typically offer packages that include preparing and filing the necessary paperwork, obtaining an employer identification number (EIN), and providing ongoing support. By utilizing a formation service, you can ensure your LLC is set up correctly and efficiently so that you can focus on growing your business.
Develop Your Branding (11 a.m.–12:30 p.m.)
Your brand identity is a vital part of your business. It reflects what makes you unique and how customers will perceive you. Create your business name, pick color schemes for your logo, and design a logo that fits your brand. You can use online tools to help the entire process go more smoothly.
After finalizing your brand, it could be the ideal time to make your business cards. You can use a customizable premade template and add your own fonts, colors, images, and other elements until your card accurately reflects your business and brand.
Eat a Nutritious Meal (12:30–1 p.m.)
Take a breather! It’s a good idea to prepare a nutritious meal with protein, fruits, and veggies that will give you a boost of energy to finish the second half of your day strong. Try not to think about your new business for these 30 minutes!
Build a Website (1–3 p.m.)
The website is an essential aspect of any modern business. Use a platform like Wix, Squarespace, or WordPress to develop a simple website that showcases your products or services. You don’t need to have any technical skills because website builders are intuitive and easy to use. Make sure you have search engine optimization (SEO) to make it easier for customers to find you!
Start Marketing and Advertisements (3–4 p.m.)
You can’t have a strong launch or sustain success without impactful marketing. Use social media platforms like Twitter, Instagram, and YouTube to promote your business. You can also use advertisements on Google or Facebook to target audiences based on demographics, location, or behaviors. You’ll increase your reach to prospective clients or customers with an effective marketing structure in place.
Are you excited at the prospect of starting your business in eight hours? When you approach it strategically, you can quickly launch a company and ensure it is productive, well-organized, and effective from the start. Just remember to stay focused, maintain a positive mindset, and be willing to learn new things along the way.
You’ll quickly find that your hard work pays off in productivity and results. So hesitate no longer — get your dream company off the ground today!
Would you like to read more helpful content or learn about our small business accounting and bookkeeping services? Visit NorthPacificAccounting.com today!