- Consider this your checklist for success.
Whether you’ve decided to turn your side hustle into a legitimate enterprise or you’ve got an innovative idea you’d like to get off the ground, you’ll need to navigate through the potential quagmire of a start-up. Have no fear! We’ve put together a short checklist of basics you’ll need to start your remote or virtual business.
- Depending on the type of business you’re developing, you’ll first need a website for legitimacy and to provide information for your customers. You can’t establish confidence in your demographic without a landing page. Customers want to be secure that you are a professional in your field and they can trust you with hard-earned money.
- Then, you’ll need comprehensive social media in order to connect more personally with your target audience, answer questions quickly, and handle complaints directly. It also gives you an opportunity to demonstrate your products and keep your customers up-to-date on the inner workings of your business.
- You obviously also want to get paid! You’ll need to determine whether you need an e-commerce site (i.e., a site that can accept payment), and how you would like to handle packaging/shipping physical items. If you’re operating remotely vs. completely virtually, you’ll want to consider a merchant service, such as PayPal, Venmo, Square, etc. Research each carefully as they all have their specific pros and cons, specifically for fees taken and how they do their reporting for tax purposes.
- Consider opening a Zoom account for meetings with clients. It eliminates the difficulties of trying to FaceTime an Android, or video chat through a social media platform. It certainly adds an extra layer of professionalism. The first Zoom meetings usually only last 45 minutes before it gives you an alert that the communication will be cut. There could be a certain level of embarrassment to get kicked off of your call before your business has concluded.
- There are only two certainties in life: Death and Taxes! Determine what the tax rates are for your specific business. This can get more complicated with staffing, therefore a financial counselor would be advisable. Getting caught at the end of the year with the inability to pay your taxes would be detrimental to any potential future success of your business.