Who Am I?
This narrative is crafted from over 34 years of robust business experience that commenced when I was merely 12 years old, selling baseball cards in antique shops. My journey evolved through the phases of conceptualizing, launching, managing, and eventually selling entire brands, covering a wide range of business and management skills. Picture and video at the end of this post.
1. Market Research and Planning
- Conduct market research to understand local demand, and competition, and identify your target customer.
- Create a comprehensive business plan outlining your business model, marketing strategy, financial projections, and operational plan.
2. Legal Structure
- Decide on the legal structure of your business, such as a sole proprietorship, LLC, corporation, etc.
- Register your business name with the California Secretary of State, and check for trademark availability if necessary.
3. Domain Name and Social Media Handles
- As soon as you’ve decided on and registered your business name, secure a relevant domain name for your website.
- Create profiles and secure usernames on major social media platforms like Facebook, Instagram, Twitter, and LinkedIn to ensure brand consistency across platforms.
4. Permits and Licenses
- Identify and obtain the necessary permits and licenses required by the state of California and your local municipality.
- Check with the California Business Portal and your local city hall to understand the specific requirements for your industry and location.
5. Tax Identification Number (TIN)
- Obtain a Federal Employer Identification Number (EIN) from the IRS.
- Register for state and local taxes through the California Tax Service Center.
6. Business Bank Account
Open a business bank account to keep your business finances separate from your personal finances.
Purchase necessary business insurance to protect your business against risks like property damage, liability, and worker’s compensation if you have employees.
- Choose a suitable location for your business that is accessible to your target customers and compliant with zoning laws.
- Sign a lease or purchase property, and ensure it meets the needs of your business operations.
- If you need employees, begin the hiring process by creating job descriptions, posting job openings, and conducting interviews.
- Ensure your hiring practices comply with federal and California state employment laws.
10. Networking and Local Engagement
- Join local business organizations, chambers of commerce, and engage with the community to build relationships and promote your business.
- Attend local events, trade shows, and other networking opportunities to spread the word about your business.
In conclusion, starting a business in a medium-sized city in California requires a well-thought-out approach encompassing market research, legal structuring, online presence, and community engagement among other aspects. Early on, securing a relevant domain name and social media handles is critical to establishing your brand identity and ensuring a professional online presence. Obtaining the necessary permits, licenses, and insurance, alongside setting up a separate business bank account and tax identification number, forms the regulatory and financial backbone of your new venture. Selecting a suitable location, hiring the right team (if necessary), and engaging with local business communities further solidify the foundation for your business. Each step on this journey demands careful consideration and often, professional advice to navigate the complexities involved. By adhering to a structured plan and adapting to the local business ecosystem, you significantly enhance the prospects for your business’s success in a competitive Californian market.
(Clovis, Ca. 1990) My grandfather, cousin, and I at one of my card booths located inside the old Pollasky Antiques.