K A Y L A N G U Y E N P R E S E N T S

HOW TO START A

Business
5 S T E P S T O G E T T I N G O N T R A C K

ESTABLISH YOUR NAME/BRAND

Draft a business plan and conduct research.

1
What are your goals?
Goods, service, or both?
Who is your target audience?
Every company needs a name and often times it correlates to either what you
are producing or something personal to you. So, it is good to begin looking at
what names are available and what has been coined already. Then, consider
thinking about taking the website domain and email addresses.

GETTING ORGANIZED AS A BUSINESS

2
After you research your company name, file with the Secretary
of State and look into the Texas Comptroller.
Determine an entity type, especially from a liability and tax
standpoint.
Are you a sole proprietor? C or S corp? LLC? Partnership?
Meet with attorney and/or accountant to discuss long term and
short term goals.
Operating agreements, though not required, are good to
have because it outlines roles and responsibilities.

MANAGING ACCOUNTS
General Rule: Set up a separate bank accounts, credit cards

3
before you receive anything, because you want to have
transparency
Separate personal and business
Co-mingling makes for bad accounting, because it is
tedious and gets confusing when bills are not separated.
Point of Sales System = Payment System, how will you take it?
Accounting: Most businesses use QuickBooks by Intuit and
connect their Zelle, PayPal, or any account in which they
receive revenue from. Typically, small to medium-sized
businesses use this software, but if your business is larger,
then considering consulting with an actual accountant.

DETERMINING YOUR COSTS

Have a reasonable budget. Think about the amount you will
produce, what you will use, and what will sell.
General Costs: Materials, equipment, shipping, labor,
infrastructure, administrative, operating costs
Who are you hiring? Employees? Independent

4
contractors? Both?
Figure out what insurance is needed.
Property, casualty, general liability, etc.
What is the premium? Deductible?
Price Segmenting: All the elements that go into your
product contribute to its cost.

BUSINESS MARKETING
Engage your target audience while keeping your budget in mind and
assessing the risks.
How can you beat competitors?

5
How is your online presence?
What is your pricing?
Any promotions?
Consider your brand's font, colors, logo.
Are you trendy?
Be sure to establish your credibility.
Testimonials, reviews, Better Business Bureau
Think about your client relationship management.