The Basic Building Blocks of Starting A New Small Business - Techzone360

The Basic Building Blocks of Starting A New Small Business - Techzone360


The Basic Building Blocks of Starting A New Small Business - Techzone360

Posted: 05 Oct 2020 01:29 PM PDT

Small businesses play a huge role in the US economy as they constitute 99.7% of all businesses. Small business owners have the ability to take full control of their careers and the opportunity to scale them to whatever size they want.

Owning a business is not easy, though and that is why many eventually get closed in two to five years. However, building your business on a strong foundation can help and that's why we will share some tips that'll enable you to attain it.

Do your homework

The first thing that you want to take care of when starting a small business of your own is that you go beyond just formulating your business idea. No matter how great your idea might be, there is one important question that you will have to answer, will this business be profitable?

To answer the previous question, you need to ensure that your small business fills a tangible need or solves a problem in the market. To ensure that your business fills gaps in the market, you must research and gauge factors like competition and how many people want your offers.

Create a website

Now, all the businesses have gone digital. Almost everyone uses a smartphone and can now access almost anything on the internet. So, if your business doesn't have a website or an app, you are missing out. The biggest opportunity you will lose out on is reaching more clients by employing digital marketing strategies that you can learn from some of the best SEO courses available. For the full list of the courses, visit the SEO for Growth website.

These days, people even see having a business website as a sign of being a legitimate entrepreneur as they can use it to know your business better. Consumers even use websites to make purchases/purchasing decisions as they can get a product's information from the site to ensure that it is what they want.

Create a business plan

After ensuring that your business idea will be profitable and creating a website, you need to draft a plan that'll help your business grow. Creating a business plan is not always that complex as you only have to articulate what you will have to do to make it grow and become successful.

Making business plans can be easy for some industries but if you hope to get financial assistance from a bank or an investor, it will get difficult. The types of business plans that investors/banks want are long and painstakingly detailed as these people/institutions have specific sections they want extra info on.

Sort out the finances

Establishing a small business should not cost you a lot but you must prepare to make an initial investment and cover running costs until you break-even. To prepare yourself for these costs, you will have to make a spreadsheet that will list startup costs like equipment and ongoing expenses like rent.

An in-depth understanding of your finances can broaden the funding options available to you as people/organizations are more likely to lend you money if they know where it's going. Bootstrapping can also be easier if you know how much your venture might cost you and allow you to prepare your resources accordingly.

Complete the paperwork diligently

To avoid legal trouble, you have to know all the paperwork you need to fill in, such as registering a name for your business with the local authorities. If you'll have employees or operate in a partnership/corporation, you will need to get an EIN (Employer Identification Number) number from the IRS.

To help prepare you for all legal/tax obligations, the US Small Business Administration has listed everything you'll have to fill in and pay for. Also, depending on the industry you will enter, find out if there aren't any permits or licenses required for operating in your area of choice.

Small Business Attorney Uniondale Wins ‘Best Corporate Law Firm Long Island’ NYC - Yahoo Finance

Posted: 06 Oct 2020 12:30 AM PDT

Long Island Business News has awarded Best Corporate Law Firm to Love Law Firm, PLLC, a small business attorney in Uniondale, Nassau County, Long Island, NYC, New York, USA.

UNIONDALE, NY / ACCESSWIRE / October 6, 2020 / Long Island Business News' Reader Rankings has awarded Best Corporate Law Firm to Love Law Firm, PLLC of Uniondale, Nassau County. The firm's website is https://www.lovelawfirmpllc.com/practice_areas/business-formation-lawyer-long-island-ny.cfm

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The firm is conveniently located at 626 RXR Plaza, 6th Floor, Uniondale, NY 11556 and welcomes clients from Uniondale, East Meadow, Garden City, Great Neck, throughout Nassau County and Long Island, and the rest of New York, via Zoom.

More than 14,000 votes were cast in this year's Reader Rankings at the Long Island Business News' website. Best Corporate Law Firm's award-winning owner, Francine E. Love, was up against large, regional law firms. She puts the victory down to small business owners valuing boutique law firms. Another award is mentioned here https://finance.yahoo.com/news/best-business-formation-law-firm-112500963.html

She says, "Small business owners like having someone watch over their business who is also a small business owner herself." A good small business corporate lawyer saves companies money by helping them avoid legal trouble, particularly by crafting strong contracts for them.

Love Law Firm helps small business owners with commercial contracts, employment law issues, confidentiality and invention assignment agreements, service agreements, privacy and cyber-security concerns, buy-sell agreements, stock purchase agreements, commercial leases, loans, and more. Attorney Love estimates that she has drafted more than 100,000 commercial contracts over the course of her career.

Having a small business attorney helps business owners sleep better. "I know what keeps business owners up at night; I'm one too. I know what it means to have your family depend on you to take care of things. I tell all my clients that I want to be a part of their success story."

Love Law Firm, PLLC is a small business, boutique law firm based in Uniondale, Nassau County, Long Island, New York. One Google review reads, "From the minute I heard Francine talk about small business contracts, I knew I wanted her to craft mine. In addition to her expertise in working with entrepreneurs like myself, she is knowledgeable, patient, reassuring and a pleasure to work with. She created a comprehensive contract that has me feeling more confident than ever in how I do business. She also took the time to explain everything clearly so that I don't just feel protected, I really understand it and feel comfortable explaining it to my clients as well. I would absolutely recommend her to other business owners."

More media here https://www.newsbreak.com/news/2059854684679/best-business-formation-law-firm-long-island-nyc-awarded-to-uniondale-attorney

Contact Info:
Name: Francine E Love
Email: Send Email
Organization: Love Law Firm, PLLC
Address: 626 RXR Plaza, # 624, Uniondale, NY 11556, United States
Phone: +1-516-697-4828
Website: https://www.lovelawfirmpllc.com

SOURCE: Love Law Firm, PLLC

View source version on accesswire.com:
https://www.accesswire.com/609290/Small-Business-Attorney-Uniondale-Wins-Best-Corporate-Law-Firm-Long-Island-NYC

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