Startup Planning Decisions Every Entrepreneur Needs to Answer

The startup decisions and planning by an entrepreneur before launch are key to startup success.  Setting your startup right, right from the beginning will help you avoid some huge pitfalls down the road.

The decisions that you make early on in your business will set the foundation for later success or failure. It is much more difficult (and expensive) to unsnarl a mess once the business is in full operation. You’ll want to get it right the first time.

Here are three of the early decisions that you’ll need to make –

Decisions on Company Naming & Corporate Identity:

For growth-driven firms, a good name is simply not good enough. You need a great name that’s provocative and differentiates you from your competitors. The name should be short, clear, memorable, easy to spell and pronounce.

You’ll need to ensure that you can legally use the name without infringing on another firm’s trademark. The name should be screened through domestic and international trademark databases.

It is essential to secure the dot-com domain name. Customers have come to expect that the company name to be the same as the dot-com domain name. (For example, the company BestBuy must own BestBuy.com.)

You’ll also need to develop a “public face” or corporate identity for your company — integrating visual elements to create distinction that stands apart from your competition. And you’ll want to integrate fonts, colors, and graphic elements to create a unique brand mark, or logo for your firm.

Decide the Legal Form of Ownership of your Startup:

You’ll need to decide on the legal structure of your business. In the United States the legal forms of ownership include sole proprietorships, partnerships, corporations, and limited liability corporations (LLC).

There are advantages and disadvantages to each structure. You’ll want to consider your growth objectives and protection of your personal assets.

Startup Regulatory & Tax Decisions:

Often overlooked until it’s too late, it is essential to explore the federal, state and/or local regulations that will affect your business.

Each business faces a unique set of regulatory forces. We’ve seen far too many businesses fail because they didn’t do basic up-front fact finding. Be sure to check, and double-check with governmental officials and industry insiders to fully understand what’s required of your business.

You’ll also want to get all your tax structures set up correctly right at the beginning. If you start with the proper systems in place you’ll make your life much easier later on.

Planning and the Right Decisions are key to success:

By selecting a powerful company name, the right ownership structure and addressing the regulatory and tax issues at the onset, you’ll avoid disaster later.

Brandings has everything you need to help with startup decisions and planning.  We’ll make sure your startup hit it’s targets every time.

We offer a wide range of services including company naming, premium domain names, strategic planning, corporate identity and design, testing and research, trademark screening, all custom tailored to meet all your specific startup needs.

At Brandings we have a team of professionals that can help you at every step of the startup process.

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