Starting a business? Tips for a successful launch Sharon Epperson shares smart ideas for nurturing your new business

Starting your own business can be daunting, but if you have an idea of the obstacles you could face you’ll be well ahead of the game. Lots of folks think they have a great idea for a business — selling customized gift packages of your signature-recipe brownies, creating a fundraising consulting firm for nonprofits, or opening a health and wellness store catering to new moms. You think you’ve come up with a terrific enterprise, one that you’re really passionate about, but do you really know what it takes to launch this business?

CNBC’s personal finance correspondent Sharon Epperson, author of “The Big Payoff,” poses the questions you need to ask yourself — and some tips on how to find the answers.

What do you need to know before you start a business?
What you need to know is not always apparent until you start developing your business. You’ll likely make many mistakes and learn from them. But to make that learning experience less painful, follow these steps before you start your business.
Build your cash reserve
Unless you already have substantial savings or have recently received a windfall, you’ll probably need to start saving money for your business for a few years before you launch it. Plan to put any extra money that you get from a raise, bonus or stock options into a special fund for your business. The amount of money you’ll need will likely vary depending on the type of business and the location. Dawn Casale, owner of One Girl Cookies in Brooklyn, says her advice to budding entrepreneurs is always: “Save double what you think you’ll need because it goes so quickly.”

Know your credit score
Pay off as many bills as you can, save money, and get a copy of your credit report to understand what it says about you. “Know, protect and correct your credit score,” says Nell Merlino, president and CEO of Count Me In, which provides micro-loans for women entrepreneurs. (Count Me In and OPEN by American Express provide money, mentoring and marketing opportunities for entrepreneurs to help them grow their businesses to a million dollars or more.)

source:http://www.msnbc.msn.com/id

5 Tips to Brand Your Business Online

1. Protect Your Name. As an entrepreneur, your name is vital to your brand & the identity of your business. Be sure to secure a domain name in your name. For example, www.myname with .com, .net and/or .biz. It's usually a good idea to register multiple domains in case someone types the wrong extension, that way you can be found. Network Solutions and GoDaddy are two choices to register a domain name.

2. Create a Founder Profile Page. Brand yourself on your Web site. Create a profile about you to build trust with potential clients. Make it easy for visitors to find info about you. Clients and prospects want to know who you are in terms of industry, experience and personality. Personalize your Web site and share info to build a relationship with visitors to your site.

3. Prepare for the Future. Millions of people use mobile devices to connect to their business, when they are out of the office. Make sure your Web site is accessible to these devices and will load quickly and easily. Even if your site is not yet formatted for .mobi, get the name. By registering a domain with a .mobi extension you secure the name for your company.

4. Protect Yourself from Spam. Search bots troll the Web looking for email addresses. This can lead to spam emails to your inbox. Protect your business email box. Use email addresses on your Web site like: contactus@domainname.com, media@mybusiness.com or moreinfo@mybusiness.com.

5. Considering joining LinkedIn or ZoomInfo. These popular, social networking sites give you a free way to post a biographical profile. Be aware: everything you post is public information. You give up some privacy when you post info. The sites can provide connections between people with similar interests. The sites add to search engine results for your name & your company name.


source : www.score.org