Are you planning to expand your business empire to the US? Or are you thinking about pursuing an entrepreneurial career in the States? I say, hold on… Have you asked yourself if you’re ready for such a venture?
Guide yourself accordingly with this article that focuses on tips for every entrepreneur wanting to start a business in the US.
1. Make a Business Plan
Think about all the possibilities that you will meet right ahead. Make sure that you’re ready for anything; may it be negative or positive.
You can do this by designing a business plan.
What will your business be about? What products are you going to sell? Who are you going to work with? How much are you willing to invest? How much do you think you’ll earn in the near and distant future?
These are just the basic questions that you need to answer. Why? To fully understand what you’re getting into.
Problems can arise from ignorance. Educate yourself. Build a business plan that will cover ALL the questions that you have right now, and you must now think about the questions that you may have in the future.
The secret? Think ahead.
2. Don’t mix personal and business funds
Commingling funds is not for you. If you are starting a business for the first time or if you are starting a business within a new system, do things the right way.
Mixing personal and business funds will keep you inside a maze. As a growing business, you should avoid clutter. Be organized and allow yourself to monitor the progress you are making with your business in more detail.
3. Keep a Business Diary with You All the Time
Have a personal diary with you all the time, where you can jot down ideas that pop up at unexpected moments, like in the shower.
The best ideas are mostly forgotten. This is true, and you must know this as an entrepreneur. The best way to counter this problem is to buy a business diary you can keep with you at all times.
Do you have questions in mind that can help your business grow in the future? Write them down in your diary to remind you of the once hidden potential of your company. Then, you can take action accordingly.
4. Study the Requirements
Opening a business in the US will require you to follow the government’s guidelines and laws concerning businesses.
There are requirements that you need to pass before your business can finally operate.
The American Dream is very attractive to immigrants. Thus, there is a higher number of immigrant-operated businesses in the country compared to natural-born enterprises.
What do immigrants need to be able to open a business in the United States?
One example is an E2 Visa, which is obtained by an entrepreneur from another country wanting to invest in a business or start a business in the United States.
Acquiring an E2 Visa, as per Ashoori Law, is also a stepping stone to a green card that can grant you citizenship in the country.
Know every detail of the process, and be sure that you understand every requirement. This will help you avoid repercussions in the future that can stop the operation of your business or, worse, hinder your business start-up.
5. Take Your Business Online
Word of mouth marketing is a thing of the past. Now, there is a much more efficient way of marketing: online marketing.
Build an online platform where your customers can access your business — your products and services.
A blog will do great for your business. This can make your customers feel like they belong in a community surrounded by your company’s products. At the same time, you can learn from your customers’ experiences: how can you improve your products? What do your customers need? What are the better ways to reach your target market?
Investing in online marketing is actually the most economical and efficient method you can use to market your business. Establishing a website for your business is cheaper compared to radio and tv advertisements.
6. Give Your Business a Catchy Name
This is one of the greatest factors that contribute to businesses’ success, and most entrepreneurs forget about this.
Yes, they do have amazing business models, but are they attracting customers? That’s one question you should include in your business diary. What are you going to name your business?
Let me help you with that:
- Single-word names do best. They’re catchy and unforgettable.
- Be original. Avoid using names that are too common and confusing for customers.
- Be creative. You can make up your word for your business name. Combined with the first tip, this can be a powerful marketing tool.
- Ask others advice before making everything official. Ask family and friends about their opinion on the names you’ve formulated. Be open to changes and improvements.
- Make a long list of names. Choose from that list. Cross out and pick.
- Try the name generators. They’re actually helpful.
- Give it a week or two before making it official. The best time to think of a name is now.
7. Focus on Improving One Product
Make it a step-by-step process. Don’t rush.
The best way to start a new business is to make a single product and improve it to its maximum potential. Keep aiming for better.
This single product you’ve developed will be the face of your business. Then, you can incorporate other products in the future.
Don’t rush and pour funds into selling several products that are low in quality.
There is always time for everything. Let time improve your operations and products. Otherwise, you’ll be receiving disappointed comments from your customers. Protect the image of your business with the quality of your products and services.
Take it easy…
Success won’t happen in a day. There are a lot of things to know and to be familiar with. Without the right knowledge and determination, things can go south, and you may lose your one time opportunity to really excel in the business world.
Take it easy: always be mindful of every step you’re taking. Seek advice from seasoned entrepreneurs, legal professionals, friends, and family who want you to be successful.