Your Quick Guide to Starting a Business in Atlanta
If you’re a new entrepreneur, follow these six steps when starting your business. Some people rush too fast into making a new business and skip important steps, which will come back and cost them throughout the life of their business. By following this quick guide to starting a business in Atlanta you can get your business started on the right foot and avoid common pitfalls.
1. Know Your Business
It’s perfectly okay to dream big. It’s okay to dream about being the next Bezos or Musk. But, your company will look a lot different when you’re first starting out.
As you are starting your company, you need to think about the specifics. In other words, you should know the answers to the following:
• What does your company offer? Is it a good or service?
• Who is your target demographic?
• Who are your competitors? This should include both local competitors in Atlanta, as well as national and international competitors depending on the scope of your business.
• What makes you different from your competitors?
2. Have a Business Plan
A business plan creates a roadmap for you to follow during the growth and development phase . It will help you determine key parts of your company that you might not have considered like marketing and sales, financial projections, and your company’s organizational structure.
Better yet, creating a business plan can help you tackle some big questions and concerns early on in the life of your business. This allows you to be ready if/when the problems come your way. As your company starts to grow, you can continually turn to your initial business plan to know what your next step is.
3. Get Funding
Starting a business does not mean you have to pay for everything from your private savings. In fact, that’s a dangerous and stressful way to run your business, because your retirement, savings, and well-being are directly tied to the success of your business. Instead of paying everything yourself, try to get funding from others.
With a thorough and well-thought-out business plan, you have what you need to look for investors and other types of financing options. Don’t jump at the first option that’s available. Be thoughtful about what you are agreeing to with each funding opportunity.
4. Choose a Business Location that Fits Your Business
You need somewhere to run your business. While it can be tempting to find a large office space so you will be ready to expand, this can cause a major strain on your budget. It is better to spend your budget where it matters and find a location that fits your immediate needs.
Consider using virtual office and meeting spaces from Davinci as you start your business. Virtual office spaces in Atlanta could be the best solution because it provides you with the professional address and location for your business to be done from, while also providing the flexibility of remote work.
If you choose to use a Davinci virtual office, you can use a Davinci Meeting space, from day one if you ever need a physical location to meet or train. Each location is guaranteed to provide you with a clean and professional environment.
5. Make Your Company Official
You haven’t actually started a business in Atlanta until you’ve filled out the right paperwork. To make your company official, you need to:
• Obtain business licenses and permits
Davinci offers incorporation services that are designed to provide you with a registered agent to help manage legal documents and entity formation for you. They are experts who are ready to help you get off the ground by making sure the right paperwork is filed and you’re set up for success. No matter if you’re trying to make an LLC, corporation, nonprofit, or any other type of business, Davinci’s incorporation services can take care of the boring legal paperwork for you.
6. Develop a Support Network
You don’t have to do everything yourself. There are people waiting to help you. Programs like Georgia’s SBDC Network are an invaluable tool that offers a broad range of training programs that can help your company start on the right foot.
Start Your Company off Right with Davinci
Starting a company is a lot like building a home, you have to start with a solid and stable foundation. If done correctly, taking your time and establishing the right foundation for your company can pay off in the long run. With Davinci’s incorporation services, virtual offices, and meeting rooms, we can help you build that stable foundation for your business to grow on.