Setting Up Your Business
Now we’re going to get to the meat and potatoes of setting up your business. Please know that this is not a “one size fits all” situation and you should consult with an experienced business formation lawyer if you’re not sure of how to form your new business.
While setting up your Christmas light installation business, consider using a different name than your existing business (if applicable). Many people who currently own a service related business make the mistake of adding a Christmas service to their portfolio. This can leave you vulnerable in many situations. Imagine if you were to make a costly mistake or even bite off more than you can chew. It would be horrible to think the bad reviews and potential liabilities could actually cripple both businesses at the same time. On the other side of the coin as we have experienced, the Christmas business actually took off faster and became more successful than the other companies we were managing. In this scenario, having our companies separate prevented one company from being funded by the other and allowed us to focus on the keywords needed for marketing.
Most people don’t know that you can go to your local county clerk and register a DBA (Doing Business As) and then go online to IRS.gov and get your EIN. The next step would be to take your DBA, a screen shot of your EIN (or you can use your social for sole proprietorships) and visit the bank of your choice to set up your commercial bank account. By the end of the first day you’ll be a business owner that can negotiate checks in your company name and the whole process usually costs less then $20. Once you’re ready to accept payments, set up your company email address, Facebook page, Google Business Listing, website and any other platforms you would like to list your products or services on. In less than a week, you’re on the map and the phone is ringing. (I may not be as simple as I just made it sound but that timeline is realistic if you know what you’re doing)
Now you’re going to need to figure out your process and how your company is going to operate. My suggestion is to start from the very beginning over and over. When the customers find me, what do they hear on my voicemail? When I send them an email, what does my signature look like? If they’re wanting an estimate, what form do I use and how much should I charge? How do I keep the customers organized so I don’t drop the ball? How am I going to accept credit card payments? Where am I going to buy the materials at? Who is going work for me to get these jobs done? (If applicable) These are areas that you will constantly refine over and over until you get the best process for your business. As you grow and scale, you’ll need to start from the beginning over and over until the process is streamlined and becomes your greatest asset.
There are many different approaches to this but please know that we’re here to help and have business marketing, website creation and other related services available for you to take advantage of. You’re not in this by yourself, Kingdom has the experience and reputation to get your business up and running!
