Many people already feel steady and very eager to open their own business, but unfortunately when they are about to start their feel confused. “What should I do first to realize my dream of owning your own business?” Maybe that’s a question that often hang in the minds of prospective entrepreneurs. And there is no technical instructions and manuals are official and accurate information on exactly how to start your own business. So many alternatives that can be taken. For those of you who feel the same confusion, check out the following descriptions so you know a clearer picture of how generally starting a business.
An old joke says that when people talk about the steps initiated an effort was ranked 1 to 10 in the 12 priorities that must be met when starting a successful business. This is also true in the launch of the product, due to the launch of new product ideas usually takes a lot of resources of the target. You will need to make money in an amount sufficient to pay the salaries of employees, compensation for the fellow who was instrumental in the launch of the product, the development of basic forms, testing rules, and costs in a business side. Funding requires several months to collect and can be obtained from a gift, and a friend loans, or grants or bank loans or investors as well. Banks and investment partner companies will expect to be paid back with interest. While the grants awarded in the absence of anything in return.
Have a business idea
Make sure the type of business would you set up is the type of business that you are interested. It would be a good idea if you have the expertise and practical experience in it. Use a break-even analysis of capital (Break Even Point) to determine if your idea is potentially profitable. After that describe in detail your business plan, including a profit and loss forecast and cash flow analysis. Then find sources of assistance that can be used for start-up funding. After that, assemble a basic marketing plan.
Determine the legal structure for your business
Before you begin, you must decide how many people are going to be a business owner. In addition, also decide how much protection from personal liability you need based on business risk. Then also think about the tax to be borne. Consider whether your business will be able to print more profits by selling shares. Thorough diversity in the composition of business ownership: sole proprietorship, partnership, firm, and so on.
Get in-depth information from independent sources or a lawyer if deemed necessary, before you decide to adopt one type of ownership structure.
Choose a name for your business
Think of several business names that might suit your company that will shape, its products and services. If you start a business online, please check if your business name is already used wills as the other site’s domain name or not. Determine if your business name has not been used or not being used by any other company while going to start a business. Try to avoid names that easily diasosikan business with another company or the name of a fictitious company and its reputation. This relates to the image of the business in the future. Look at the Directorate General of IPR directory to ensure your business name has no equal. And when there is something similar, you can still get around to look different and unique. It’s good you have a good supply of business names so that once you find a name that is similar to other businesses, you can choose another.
Register your name for your business
Register your business name to the Directorate General of IPR as an official trademark and legitimate in the eyes of the law. This is important, especially if the business name is used to identify the products or services that your business offer. In addition, formally register a business name as a domain name, especially if you want to use as your website address as well.
Prepare documents the organization
The documents relating to the legal organization is usually very typical according to the type of business ownership. The type and variety of documents required for an individual business is different from the type and variety of documents required in a firm or a limited liability company.
Find a business location
Discover the features and improvements that your business needs. Determine how much rent you can spend. Determine the kind of environment that best suits your business type and find a reasonable rental rates for the environment. This can be done with a survey of some acquaintances or friends who know the area or the environment. Create a conducive working atmosphere around the work site so that jobs can run more smoothly. Before signing a lease agreement, try to know if there are any better deals.
Take care of business licensing
The following are some of the stages of licensing in this country that needs to be known.
1. Deed of Establishment of the company
Certificate of incorporation documents are authentic, which is one form of the legality of the company are made in the face of a notary, a public official who is authorized to do so by law. In the deed of incorporation must contain the Company’s Articles of Association which contains several provisions as follows:
1. a. Formally contains the title, number, place, day and date of manufacture and the signing of the deed of establishment.
b. Materially contains about: founder / party founder, company, company business, corporate relations, in the event of a dispute settlement measures.
2. Name of the Company
Principles of naming a company. Principles can be described as follows:
a. The intermingling of the company name with the personal name.
b. The intermingling of corporate legal form with personal names.
c. ban wearing company name of others.
d. a ban on wearing the brand to others.
e. ban on using the name of the company that is misleading.
3. Recognition and validation
The following is a statement of endorsement is subject Validation and others:
a. It says there is a recognition that if no party denies or object to the use of the name of the company concerned.
b. Employers or the general public to know and recognize the name used by the company in business.
c. It says no endorsement is used when the name of the company that runs the business made in the face of a notary, the state announced in the news, and registered in the Company, but no one objected to the name.
d. With the registered company name in the list of the company then it is considered valid.
e. If there are those who do not recognize the company name in the list may apply to the Minister of Industry and Trade of the names on the list and why.
Running a business requires expertise in the ins and outs of the development, marketing and sales as well as business development and legal policies. While you may think that you can do it all alone without the help of others, you will get better results by hiring people with the competencies necessary to run your business. By leveraging their experience of n and expertise, you can save time and effort in order to avoid mistakes and save time to achieve success. In a business budget, enter the funds to hire the experts who complement your skills.
In general, there are several steps you can take to get insurance coverage for businesses. Determine whether the business property that can be covered by insurance. Contact your insurance agent or broker to answer your questions and ask about the policy in detail. Get liability insurance / debt vehicles used in your business, including employees’ personal cars used for business purposes. Get liability insurance or debt to the premise if the customer or client will be visiting. After that, get the debt insurance / liability if you are going to create a product that can be harmful to people and the environment. If you work at home, make sure you enter your homeowners insurance damage or theft of business assets and debt to repair the losses associated with the business as protected elements. Consider health and disability insurance for you and your employees.
Specify the accounting system
First, decide whether you will use cash or accrual accounting system. Please Select the fiscal year of its own if you do not match the business cycle of the calendar year is generally. Make also a system of recording financial transactions, especially effort to track any payments to and from your business. Hire someone competent in financial records.
Make the tax reporting system
Know some tax scheme for the structure of your business. There are also ways that you can take your taxes separately minimize expenses.
The shape of the board of directors
If you combine your company, you will be required to have a board of directors that is responsible for holding the lien obligations and legal for your efforts. If you are planning to become a CEO in your company, think about who the right person to work with in this oversight function.