Do's and Don'ts of Starting Your Own Business
Do's of Starting Your Own Business
1. Do seek advice outside of your business.
There is nothing wrong with seeking help from others when you need it. Whether it be a law firm or a group of your professional peers. If you need assistance on how to get more sales or what the latest trends are in your industry, reach outside of your business to the appropriate groups for insight.
2. Do know what your services are worth.
Don't sell yourself short. When you are starting out, it may be difficult to properly price your services. Do your research and look at what your competitors are doing if you can. You may find you need to change your prices over time and that is ok.
3. Do be unique.
What makes your business stand out from the rest? What is going to make potential customers come to you over your competitors? Whatever that is, find it, and advertise it.
The Don'ts of Starting Your Own Business
1. Don't underestimate how much marketing your business really needs.
For example, many businesses may think being on Facebook is enough. This is not the case. You need to figure out how your customers want to be reached and then create a marketing campaign that can do just that.
2. Don't wait too long get the financial help your business needs.
When you need financial help to keep your business going, be upfront with the sources from which you are seeking funds. Think of it this way, if you were investing in a company, you'd probably need to BELIEVE in that company first, right?
3. Don't underestimate your competition.
You need to look at direct and indirect competitors. Don't forget about a business that could potentially steal some of your customers.
Need Assistant Starting Up Your Business?
Phillips, McElyea, Carpenter, and Welch can help with the legal support and documentation for your established business. Our experienced lawyers at the Lake of the Ozarks can help you with a wide variety of legal issues, such as:
- Selecting an appropriate business formation
- Incorporation and creation of corporations, limited liability companies, partnerships, etc.
- Drafting contracts and other legal documents
- Winding down and dissolving your business
- Litigation support for disputes with vendors, customers, partners, regulatory authorities or other types of business disputes
We have years of experience in helping businesses, both big and small, with all of their legal needs. We recognize that each business is unique and different, and we will take the time to learn about and understand your business so that we can provide the best possible services and solutions for your endeavor. Contact us to set up a consultation. We have evening and weekend appointments available. Our firm is conveniently located next to the Camden County courthouse, and we have an open door policy where clients can feel free to stop by and discuss their legal needs.
Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C.
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85 Court Circle N.W., P.O. Box 559
Camdenton, MO 65020 GET A MAP
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