There are several stages to growing your business (organization) into a thriving company all within one year.  If you follow these simple steps, you will look back in awe one year from now.

PLANNING STAGE:

Prior to growing your business (organization), you must ensure several stages are in place.  The most important is funding.  There are several ways to go about funding.  One is a loan, although not recommend as you should avoid as much initial debt as possible.  Grants may be a better option as it’s free and clear, meaning no re-payment.  My favorite is using money from a savings account.  This is possibly by far the best option as it allows you to generate income without owing a portion of it back to lenders, thus creating a cash flow.  I recommend you pay yourself back, however, it’s on your terms not a lender.  Check with your local Chamber of Commerce for additional information.

Once you have secured the best financial option for your business and prior to moving forward, you should think about trademarking your company’s name, tagline and logo.  This will save you thousands of dollars in the future if someone decides to capitalize off your name, therefore, you should trademark your name first.  If that happens, you will most likely battle it out in court as to who rightfully own it.  Don’t assume because you created the name that it’s automatically yours.  Although trademarks can be pricey, I advise you not to take the easy way out or you may pay even more later.

 

BUSINESS PLAN

A business plan is a formal statement that lists your business goals.  It may contain background information about your organization or business. Your plan is very important as it will be viewed by potential investors who will review and analyze it down to the very last topic to ensure they have a clear understanding of your goals.

 

EFFECTIVE PRODUCT(s)/SERVICE(s)

Ensure your product(s)/service(s) has been tested and ready for sale.

 

TOOLS

Ensure all tools are in place by creating a checklist (not all inclusive).

Computer, printer, fax, camera (accessories).0

Open a business checking and savings account as well as apply for a business credit card.

 

Create a secondary account such as PayPal, in the event your website is hacked or not functioning properly. PayPal will be key to continuing business as usual until you can resolve the issue at hand.  I recommend creating a portfolio.  It will list all of your accomplishments and achievements as well as show growth within your company.

 

MARKETING

Marketing is essential to growing a business (organization). The first step is to design a website.

Design/purchase business cards, brochures, ads to be advertised in magazines and social media. Step and Repeat (backdrop) for red carpet events you may host. Display your poster or backdrop centered behind you with your business name in bold to capture on lookers eye while attending vending events.  Create social media accounts, try to keep all the names the same so your followers are not trying to remember five different names for your business. In today’s society we rely heavily on social media to keep up with the latest fashion and where to dine, this may include LinkedIn, Twitter, IG, and FB considering we have such a list, try to keep your social media handle the same to ensure your followers are able to keep up with your latest updates.  Secure a business conference call and 800 number.

 

NETWORKING

Besides funding your dream, the second most important part of your business is networking.  It doesn’t matter how much money you have secured, how awesome your business plan is, how quick you are on your feet, how cute your website and flyers are, if you are lacking marketing, your business most likely will not grow.  Don’t be afraid to network with like-minded entrepreneurs, partner with them, collaborate with; and most importantly, support them. Now that I have shared with you the ways to start your business, I’ll see you next year at the top! House of Stone by CoCo signing off.

 

                                                          Tomika Prouty

  Tomika Prouty

  Owner, House of Stone by CoCo

 

 

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