Starting a small business is an exciting venture to undertake, especially when you're making your dreams a reality and finding ways to better serve the community. However, when it comes to the initial setup, you need to have a solid business plan and strategy to help you succeed. This guide outlines some top tips that you can follow to help you get started.

What Should You Do When Starting a Small Business?

1. Create a Business Plan

A business plan serves as a roadmap that provides a glimpse at the company's purpose and how you hope to expand and grow over the years. While it might contain the big picture, it should also largely feature short-term goals that will help you achieve your ultimate dream. These can include basic operation guidelines as well as hiring procedures and investing opportunities.

2. Learn From Others

Talk to other business owners within the community. Explain that you’re looking to open soon and pick their brains about how they accomplished their success. They might even be willing to collaborate or showcase your products in an effort to help you establish a customer base. 

The local chamber of commerce could also serve as a source of information. Their mission is to support area businesses, and they often offer training courses, mentorship programs, and networking opportunities. 

3. Open a Business Account

While it might seem easier to keep personal and professional finances in one account, it can quickly become confusing. When it comes to filing taxes, you might find it difficult to prove which expenses are business-related. Opening a separate account will make it easier to perform calculations and simplify the process of tracking your cash flow. 

4. Utilize Social Media

Social media is where a large portion of the community gets their news. Creating a professional profile and advertising the current deals you're offering could help increase foot traffic to your business. People will also see information about available products or services and pass them along to their loved ones through direct messages over platforms or word of mouth. Plus, you can also directly connect with customers through multiple social media apps so you can answer any questions they might have at your convenience. Engaging through messages and comments can also help boost your brand. 

If you’re looking to start a small business, reach out to Greater North County Chamber of Commerce. They have been serving Florissant, MO, and the surrounding areas since 1955. This organization is committed to establishing a relationship with local entrepreneurs. They also have experts on staff who know the best techniques for developing a business plan, and they will supply the insight you require. Call (314) 831-3500 to speak with a friendly representative about community meetings for entrepreneurs, or visit the website for additional information.