Starting Up

Real Small Business: Building Your Business

Starting Up

From the Editors of Real Small Business

More than one business venture was first hatched as an idea casually discussed among family or friends around the kitchen table. But actually starting a business requires more than inspired scribblings on a paper napkin. Even the most straightforward idea calls for a disciplined approach before putting up your shingle.

Starting up your business in a methodical way will not only help you determine exactly how your business will function and succeed, but is also an opportunity to assess your own skills as an independent business owner. Thinking about the nuts and bolts required for your business is an essential part of running your own show.

Starting up a business can be both exciting and terrifying -- but don't be daunted. The very first order of business is just paperwork. Sit down with a knowledgeable friend, a Web resource, or in your public library and review the legal and financial documents you need to file to make your business a legal entity. There are some basic questions to ask yourself: how much money do you need to get your business off the ground? What products and services will you offer? Are there friends or family who have expertise you can tap, like accounting or reviewing health care plans? By taking care of these kind of nitty-gritty steps right away you will have put yourself on the road to making those napkin scribbles something real.

For help with starting up your business, check out the following features:

Meet Odell Holland, owner of the Harlem restaurant The Sugar Shack, who talks about doing most of his business's startup work himself. Click on your preferred video format in the 'Watch the Video' area on the right.
Access articles on the new rules for dot-com startups, incubator FAQs, common startup mistakes,naming your company, registration, licenses and permits, researching your business, and fast-growth startup resources.
Find out Fred Steingold's answer to the question, "A friend and I are planning to open a small restaurant. We want to take all the right legal steps. What do you recommend?"
, President of Comprehensive Coaching U, which advises entrepreneurs.

We talk about Starting Up with Odell Holland of The Sugar Shack.

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Cash Flow
You don't have to be a small business owner to understand the importance of cash flow. Anyone who's ever found themselves holding off on paying a bill until a check clears in their bank account is familiar with the basic premise of cash flow: You need to manage the money coming in to ensure you have enough on-hand to cover your spending as well as unexpected expense

Structuring The Business
Determining how to structure your business is a potentially complicated decision. Your options include sole proprietorship, partnership, corporation, and limited liability company, and each carries with it potential benefits and disadvantages with regard to the legal and financial obligatons of your business. Ultimately, the choice will be based on your individual goals and style of doing business.

Your Company's PR
There's a popular saying that there's no such thing as bad PR. For your business, bad PR is, in fact, a bad thing. PR, or public relations, is how your business interacts with the public, frequently via media outlets. Large companies often make PR a subset of their larger marketing efforts, but for a small business, PR can be especially important because it may be the only marketing available.

Global Digital Rights Management (DRM) Industry
NEW YORK, Dec. 12, 2011 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue: Global Digital Rights Management (DRM) Industry This report analyzes the worldwide markets for Digital Rights Management (DRM) in US$ Millions by the following Segments: Media & Entertainment DRM, Enterprise DRM, and Software DRM.

Wholesale/B2B
When you set up your first lemonade stand as a kid, you probably didn't think about how much your supplies cost - the 50 cents a glass you made per glass was pretty much pure profit. But in a wholesale or business-to-business operation, Mom and Dad aren't giving you the ingredients for free. Your relationships with suppliers can have serious impact on your bottom line, your cash flow, and your sanity. Bearing in mind some basic considerations can help to create a satisfying collaboration.

Hiring Staff
As a small business owner, every employee you hire is a crucial part of your team. Employees who dodge responsibility, fail to address customer concerns, or just don't care are significant liabilities to any enterprise, all the more so when the company is small. Companies only succeed when everyone works together as a team --whether it's to help make products, deal honestly with suppliers, or interact with customers.

Global Content Management Software Industry
NEW YORK, Dec. 12, 2011 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue: Global Content Management Software Industry This report analyzes the worldwide markets for Content Management Software in US$ Millions by the following Product Segments: Web Content Management (WCM), Document Management, Digital Asset Management (DAM), and Other Systems.

Preparing for Tax Season
While your thoughts at the end of the year are probably filled with everything from next year's budgets to holiday vacation plans, don't forget that tax season will be upon us before you know it. Leaving everything for a last-minute cram session could disrupt your business in the spring. To avoid a crunch, you should get prepared for tax deadlines well in advance.