Many people dream of achieving financial freedom, but the difference between those that make it and those that don’t often come down to perseverance, along with a little bit of luck along the way. Running a small business is a superb way to get closer to freedom, but this is only possible if you know how to legitimize your business and make sure it carves a profitable niche within your industry.
Build Your Company Website and Socials
Your company website and social media pages are some of the most important platforms your business has. Here, you’ll be able to reach the widest possible audience and you might even market your product or service to people who’d never know who you are otherwise.
It’s advised that you pick an agency to build and maintain your website instead of doing it yourself, as this will ensure your website looks the part. As for social media pages, investing in a good camera and even video equipment can help with creating engaging content your customers will love.
Get a Business Address and Phone Number
Small businesses do not need to operate out of looming headquarters in the center of the city, and most entrepreneurs will prefer to set their home address as their business address. This is perfectly fine at first, but using services such as physicaladdress.com can legitimize your company even more.
This will give any clients a specific place to send correspondence and allows you to keep your business and personal life separate. If you’re someone who travels while running a business, this is also an excellent way to stay on top of bills and more.
Complete Licenses and Permits
You will need to determine which licenses and permits you need depending on the type of business you operate. For example, a food truck requires different permits from an accounting firm, so you can’t look for any old permit and expect it to be okay.
Taking the time to obtain such certifications will prevent any legal trouble, and you can display such licenses and certificates on your website to further enhance legitimacy and make your company stand out from competitors who might have cut corners.
Have A Lawyer On Hand
You’ll already know that you could need legal help when you’re first starting your company. Permits, licenses, business structures, and similar aspects can all be complicated. That’s not all you’ll need an experienced lawyer for, however.
There could be more than a few reasons why you’ll need one on hand as your business grows. Product liability, workplace accidents, and similar situations can all be unexpected, but they’ll be something you’ll need legal help with.
While you mightn’t need these regularly – and hopefully, not at all – it’s better to go through them with someone that knows what they’re doing. You’ll be better protected against any risks that might come up.
Separate Your Business and Personal Accounts
When you first launch your small business, it seems easier to invoice clients to send payment to your personal accounts. As your business grows and you’re looking for ways to legitimize it, separating your business and personal accounts will make your company look more professional.
A separate account allows you to track business expenses and earnings, making everything easier when the tax season rolls around. It will also leave a clear paper trail that should minimize any issues if there are discrepancies with your finances, allowing you to solve problems with little trouble.
Making your business legitimate is not just about printing a thousand business cards and sketching out a logo with a snappy tagline. There is a range of options to consider that will make your small business look the part and appeal to customers.
KT is a digital nomad who quit her job, bought a ticket somewhere, got a tan, fell in love with mother nature and she would never return to the normal life that society dictates. You can also connect with her on YouTube, Facebook, Twitter, and Instagram: @pinaynomad