Building your business is no small feat. There are many steps in the process and they are different for every business. Just like people, businesses are not one size fits all. Every business is unique and comes with its own set of problems and opportunities
From managing to marketing and everything in between, the world of small business can be both exciting and overwhelming. It’s a place where no two workdays are exactly the same and where unpredictability is the only thing that is predictable.
The GRID has several ways to assist entrepreneurs build their business. Depending on your experience and preference we have the right tools for you. Our community navigators assist entrepreneurs with finding the specific business services and resources they need. The events calendar allows people to choose the event that will help them with their most pressing concerns. The education section of our website highlights upcoming and continuous opportunities to find the right training for any stage of business. The GRID also offers opportunities for one on one assistance through our network of mentors and regional assets. Check out our community navigator page today to find your local navigator and help finding the best fit for your particular business needs.
Deciding what ideas are worth embracing can be difficult. Whether you’re starting a new business or whether you’re trying to expand your current business with a new opportunity, it’s vital to know how to appropriately research and evaluate it.
If you intend to obtain a loan for your business, apply for a small business grant, pitch your business idea to investors, or enlist the support of business partners, you will need a business plan. Having this living document will also help guide your business decisions and will help you stay focused while building and growing your business.
For small businesses, finding the right funding model is vitally important. There are a number of ways to find financing for a small business. Finding the right fit for your business and situation will set the foundation for success.
- The GRID Fund It page
- Other resources (Wisconsin Small Business Development Center)
- U.S. Small Business Administration – Funding Programs
Legitimize your business by registering your legal and assumed business name, business entity type, and by obtaining your federal and state tax identifications and any required licenses.
Before opening for business, you will need to setup your business finances, record-keeping, insurance, as well as the logistics to operate your business. You will need to have these important steps in place before launching you business.
Open a business bank account; bring your business registration documents and business license
- U.S. Small Business Administration, Business Guide, Open a business bank account
- How to Open a Business Bank Account for Your Startup (Inc.)
- Best Checking Accounts for Small Businesses (Investopedia.com)
Set up an accounting and record-keeping system
- Record Keeping for a Small Business (PDF from the Small Business Administration)
- Tax and Record Keeping Tips for Your Small Business (SCORE)
- Recordkeeping (IRS)
Obtain business insurance
- U.S. Small Business Administration, Business Guide, Get business insurance
Activate your business website and social media accounts; send out a press release and begin building brand awareness by executing your marketing plan
- U.S. Small Business Administration, Business Guide, Marketing and Sales
- Small Business Marketing 101 (Forbes)
Procure suppliers and service providers
- 4 Tips for Researching and Finding Wholesale Suppliers (Small Business Administration)
- Using Professional Service Providers to Grow Your Business (Entrepreneur)
Hire, and train, employees (if applicable)
- Hire employees (Small Business Administration)
- Wisconsin Job Center
- Hiring Your First Employee (Entrepreneur)