Start Your Business!

Starting a business is not easy, and it will require you to make several key decisions. Often times, businesses do not quickly turn a profit and the owner may not be able to afford their own salary. A necessary step to determine in your business plan is how much funding you will have and how long it will last. A wisely prepared business plan will help you structure your budget, what your business can afford, and for how long. You will also need to understand your competition. Understanding the difference between your company and your competitors’ companies is key to setting yourself apart from them.

  • What makes your product or service unique?
  • How are you better than your competition?

These should not just be based on price alone, unless you have a solid margin built into your product or services. You will want to do a quality SWOT analysis to determine the biggest differences between you and your competition. Our BizVision process can help you understand that as well.

Financial Strategy

Startups are already facing enough obstacles, finances being one of the largest. From securing funding, to building a budget, IA Business Advisors can help you develop a financial strategy to keep your business moving forward.

Growth

Several startups see immense growth that they are not prepared for. IA Business Advisors will help you maintain internal structure and organization, so when your business sees growth, not only will you be ready for it, you’ll be expecting it.

Marketing

How you market your new business will determine much of your company’s future. IA Business Advisors can get you ahead of marketing to secure your funding and future customer base.

Organizational Development

We see tons of startups fall into the trap of solely focusing on their external business—the side that faces the customer. All great businesses know that internal organization is what keeps them running. IA Business Advisors can help you develop internal organization so you can focus on your new customers.

Sales    

Sales are the life blood of any business. Whether that be services or products, sales are what will keep your business open. IA Business Advisors can help your business develop sales strategies to grow your business at a rate that your type of business can handle. We help keep your internal processes secure so your sales can skyrocket.

Strategy

Several startups fail due to a lack of forecasted strategy over the next five plus years. IA Business Advisors can help you develop strategies to grow your startup into a solidified business. We are proficient in developing both internal and external strategies to keep your business moving forward.

Technology 

With a plethora of technology choices to use in your startup, how can you be sure which one is the best for you? IA Business Advisors know technology, and we can help you find the perfect programs to develop your business and build profits. We will also help you implement those technologies so everyone on your team knows how to use them effectively.

Transition

As your business transitions between stages of growth or during mergers and acquisitions, sometimes these changes can shake startups. IA Business Advisors can ensure your transitions go smoothly so that your team and customers won’t even notice.

First Steps

Build a website
Set-up corporate email accounts
Get business cards
Obtain a lease
Line up suppliers (if applicable)
Get furniture and equipment
Obtain business licenses or permits (if applicable)
Get a federal employer identification number (if applicable)
Get an employer ID number (if applicable)
Send incorporation papers for federal and state/province tax forms
Join a professional organization
Choose a starting date
Prepare and deploy your communication/marketing strategy

Background Work

Analyze your business idea by doing a SWOT analysis
Assess your strengths and weaknesses as an entrepreneur
Establish business and personal goals
Assess your financial resources and identify potential sources of funds
Identify the financial risks
Determine the start-up costs
Decide on your business location
Do a thorough market research
Identify your customers
Identify your competitors
Develop a marketing plan
 
 

New Business Resources

  Guide For Organizing Domestic Limited Liability Companies in Illinois

  SWOT Analysis Template

  New Business Start-Up Checklist

  Work Sheet: Start Up Costs