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Think of a name for your business.
When you are trying to open a business bank account, think about the benefits it should offer:
Document name
Documents you need:
Which of these documents do you have?
Find a way to obtain the other ones.
Choose benefit
There are a lot of bank accounts with benefits out there, but you have to be careful that the one you choose is worth the money.
Choose from the list or type in the benefits offered by the bank you are interested in.
How do you consider the fees you will pay for the bank you found? If they are too high, think about changing it.
To become an officially recognized business entity, you must register with the government.
Corporations will need an 'articles of incorporation' document, which includes your business name, business purpose, corporate structure, stock details, and other information about your company.
Stock type
There are four types of stocks that an investor should own:
Type in stock type or choose from the list below.
Your business purpose is the reason you have formed your company boiled down to a single sentence.
Your business purpose is the reason you have formed your company boiled down to a single sentence.
What is your business purpose?
You’ll use your employer identification number (EIN) for essential steps to start and grow your business, like opening a bank account and paying taxes.
Some states require you to get a tax ID as well.
Tax Identification numbers can be found on tax assessments in the right upper corner on the first page.
Get federal and state tax ID.
The Employer Identification Number is a unique nine-digit number assigned by the Internal Revenue Service to business entities operating in the United States for the purposes of identification.
Apply for an Employer Identification Number.
The licenses and permits you need for your business will vary by industry, state, location, and other factors.
Requirements and fees depend on your business activity and the agency issuing the license or permit. It's best to check with the issuing agency for details on the business license cost.
What are the state license and permit you already have?
Issuing agency
What is the issuing agency of your federal license or permit?
Description
Type in a description of your business.
Business activity
What is your business activity?
Unless you're planning to be your only employee, you will need to hire a great team to start your company.
Type in his/her name.
Function
What is his function in your business?
Choose from the ones below or type in another.
Create a sales and Marketing strategy
Ask your customers and potential customers for permission to communicate with them.
Ask for their consent to contact them with further information about your business.
Use opt-in forms. They usually pertain to email communication.
What type of opt-in forms will you use?
Choose from the following or add others.
Product
Type in the names of your products.
Price
Type in its price.
Choose from these ones or add other marketing channels that you think will help you promote your business in the best way.
The more you use, the better!
Marketing channel
Before you start selling your product or service, you need to build up your brand.
?
Nama dan domain
Type in the name of your website.
Palet
Choose the colours for your brand.
Font
Choose a font pair to build your brand.
Create a logo that can help people easily identify your brand.
Use it on your company website and on social media.
Type in some ideas to grow your business.
You have some examples here:
Consider an exit strategy in case your business does not work.
In this way, you can make a substantial profit or at least to limit losses.
Think of an exit strategy or choose from the following examples:
Before you can register your company, you need to decide what kind of entity it is.
Learn about the various legal business structures that are available.
It is up to you to determine which type of entity is best for your current needs and future business goals.
What kind of business structure are you interested in?
Type in or choose from the list below.
Your business location is an important decision. The choices you make could affect your taxes, legal requirements, and revenue.
Where you locate your business depends in part on the location of your target market, business partners, and your personal preferences. In addition, you should consider the costs, benefits, and restrictions of different government agencies.
Restrictions
Type in restrictions.
Benefits
Type in benefits.
Costs
As a business owner, it’s important to understand your federal, state, and local tax requirements.
This will help you file your taxes accurately and make payments on time.
Type in costs.
Corporate tax
What is the corporate tax?
Property tax
What is the property tax?
Sales tax
What is the sales tax?
Income tax
What is the income tax?
Type in region-specific business expenses.
If you buy, rent, build, or plan to work out of the physical property for your business, make sure it conforms to local zoning requirements.
Neighborhoods are generally zoned for either commercial or residential use. Zoning ordinances can restrict or entirely ban specific kinds of businesses from operating in an area.
Starting any business has a price, so you need to determine how you're going to cover those costs.
The choices you make could affect your taxes, legal requirements, and revenue.
Break-even point
The break-even point is the level of production at which the costs of production equal the revenues for a product.
Use this formula to calculate the break-even point.
Fixed Costs / (Average Price – Variable Costs) = Break-Even Point
Variable costs
Variable costs are costs that change as the quantity of the good or service that a business produces changes. Variable costs are the sum of marginal costs over all units produced.
Type in the variable costs.
Some examples are:
Average price
To calculate the average purchase price of your shares you have to divide the total amount invested by the total number of shares bought.
Type in the average price.
Fixed costs
Fixed expenses or costs are those that do not fluctuate with changes in production level or sales volume.
They include such expenses as rent, insurance, dues and subscriptions, equipment leases, payments on loans, depreciation, management salaries, and advertising.
Type in the fixed costs.
How do you fund it?
Choose from these ones or add other ways of funding.
There are four types of plans:
Spent funds
If you are raising money from investors, you should include a brief section of your business plan that details exactly how you plan on using your investors’ cash.
Show the major areas where the investors’ funds will be spent. These could include:
Cost of Goods Sold
This shows the expenses related to making your product or delivering your service.
It should not include regular business expenses such as rent, insurance, salaries, etc.
Forecast
For example, If you are a product company, break down your forecast by target market segments or into major product categories.
If you are forecasting sales for a restaurant, break down your forecast into these groups: lunch, dinner, and drinks.
Type in some forecasts.
Milestone
Schedule the next critical steps for your business.
Show investors that you understand what needs to happen to make your plans a reality and that you are working on a realistic schedule.
Type in milestones (planned major goals).
For example, if you are producing a consumer product, you may have the following milestones:
Name of your competitor
Type in the name of your competitor.
SOM
Type in SOM.
SOM: Your Share Of the Market (the subset of your SAM that you will realistically reach-particularly in the first few years of your business)
SAM
Type in SAM.
SAM: Your Segmented Addressable Market or Served Available Market (the portion of TAM you will target)
TAM
Type in TAM.
The target market refers to consumers with similar characteristics (age, location, income, lifestyle etc.) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service.
TAM: Your Total Available or Addressable Market (everyone you wish to reach with your product)
Choose from the list below or type in an industry you want to analyze.
Disadvantage
Type in disadvantage.
Advantage
Type in advantage.
Gather information about potential customers and businesses already operating in your area. Use that information to find a competitive advantage for your business.
Nowadays, many people are considering starting their own business.
Come up with a brilliant idea, that nobody tried before.
Type in a business idea.
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Subtopic
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What is your motivation?
Type in the reasons for starting a business.
