Starting a new business is exciting, but it can also feel overwhelming. With the right approach and guidance, you can set yourself up for success. Here are some easy-to-follow tips to get started:

1. Choose the Right Business Entity

Selecting the right structure—LLC, S Corporation, or sole proprietorship—is one of the most critical steps. The entity you choose affects your taxes, liability, and operations. Research your options or work with a knowledgeable professional to make the best choice for your needs.

2. Create a Business Plan

A solid plan is your roadmap to success. It outlines your goals, target audience, and strategies for growth. A well-thought-out plan not only guides your decisions but also attracts potential investors or lenders.

3. Register Your Business

Once you’ve chosen your entity, it’s time to make it official. Register with your state, apply for an EIN (Employer Identification Number) from the IRS, and check for any local licensing requirements. This step ensures you’re operating legally and ready to grow.

4. Separate Business and Personal Finances

Open a dedicated business bank account and consider getting a credit card for business expenses. This makes tracking income and expenses easier and is crucial for tax purposes. Keeping things separate also helps build your business credit.

5. Educate Yourself

Knowledge is power! Take time to learn about taxes, bookkeeping, and compliance. Even basic knowledge helps you make smarter decisions and avoid mistakes. If you’re unsure, lean on professionals who specialize in small business needs—they’ll guide you through the process.

6. Get the Right Support Team

Don’t try to do it all alone. Work with experts who understand business setups, such as accountants, lawyers, and marketing professionals. A trusted advisor ensures you’re compliant, saving time and avoiding headaches down the road.

7. Build a Strong Foundation

Invest in the basics: a great website, a clear marketing plan, and efficient systems for operations. Starting strong sets the tone for growth and success in the long run.

Unconventional Tip: Think Beyond Today

Don’t just focus on launching—plan for where you want to be in 5 or 10 years. A vision for the future helps you make decisions now that align with your goals.