Music Recording Studio Business Plan Template: Fill & Download for Free

You need to approach the music industry as a business and think of it as being a business because it is. Don’t expect anyone to do anything for free. Write a business plan. What are you selling? (Your Music) how is it different from what’s out there, what will make people listen to you, who are your competitors. You can find a free business plan template at Small Business AdministrationIn terms of cost it varies. Assuming you are an artist, you will have to do most things yourself and outsource the rest. If you sing you will need to decide if it will be cheaper to go to a studio or buy a home studio. Keep in mind if you buy a home studio you will need to learn how to record, possibly produce, mix and master. That’s going to be additional money and additional time away from you singing. Go to http://Sweetwater.com and start pricing out equipment. Also look for other people in your area that are engineers and find out their rates.You cannot be successful in the music industry with out any money it you can start with little money. Save all your money for music related expenses like conferences, studio time, marketing. Let your parents know you are serious by making sacrifices. Join the choir in school. Connect with other people starting out that have the pieces you are looking for. Find a friend that you trust and is also a supporter of yours and ask them to manage you. As you get paid they get paid and you both learn together.Congrats on starting your small business…your career. Remember it’s about selling your music. Having people stream you, pay for your shows, and pay to use your music. It’s not about being famous although that will eventually come.

Looking for some good business ideas?Well, Finding good business ideas for starting a business in India is not that hard and we have lot’s of business ideas out there which we can start.I’ve over 70 business ideas for you and every idea is one of the best business ideas which you can start in India, Have a look:Catering servicesA catering business is easy to start, and you can make it home-based. Clients are willing to pay lots of cash as long as you show lots of hard work, resilience and deliver as advertised.Mobile HairdresserHairdressing business is easy to start as it is low cost. Carry around your work tools as you walk around, looking for customers. Marketing yourself online will help you get more clients.Online tutoringThis is a genius way of making money. Your talent is all that you require starting earning huge profits. You will be able to do music piano lessons, teaching, or web design classes; it all depends on your unique abilities for the market.Logo designsIf you can design great logos, then this is the best profitable venture for you. You can start the business online, but it's good to understand that this business venture is quite competitive, and there is a need to be exceptional.IT support businessIT support business requires one to have a background in IT. Offering IT support to companies will earn you money, although you have to market yourself online to start getting clients.Recruitment businessThere are thousands of job seekers that have tried to find employment but to no avail. A brilliant way to earn profits is by starting a recruitment firm where you can connect employers and employees and earn money. Although the starting capital is low, you must have outstanding knowledge in this field.Retail businessRetail business is also a unique business idea. In this venture, you buy product form wholesalers at a lower price and sell them online or recommendations.Smartphone salesAlmost everyone nowadays uses a smartphone. With a clear understanding of this market, you will be able to start a Smartphone shop or a repair shop that is highly profitable.BoutiquesBoutiques are very profitable ventures; because of the desire of women always trying to enhance their beauty. Making custom made jewellery, shoes, clothes, belts, candles as well as cards can make you profits.Custom gift shopOne of the unique businesses In India is a custom gift shop. People fancy unique gifts that make them stand out from others. You can start up a small custom gift shop where you create customized gifts to suit the needs of your clients. Some of the items that you can personalize include mug, notebooks, pens, T-shirts, gift cards as well as photo albums.Real Estate consultantAnother great idea would be to venture into the real estate business, especially if you are very familiar with the surrounding area where you live. You offer real estate consultancy services to your clients at a fee after helping them find a property that suits them perfectly.Dance CoachPeople love to dance, and you can go to dancing classes and become a dance teacher yourself. This business venture is very profitable, and the capital for starting is deficient.Chatbot servicesWell if you have the excellent technical knowhow, then the chat box business can be a good start for you. You require very little money for starters. All you need to do is to discover businesses around you that require chatbots.DJ ServicesIf you have the right eye for music, becoming a DJ is recommended for you. With a few skills and tricks, you can be able to find events in your area that require a DJ.Event OrganizingThe event organizing world is growing at a speedy rate. If you have a mind that goes wild with creativity, become an event organizer for gigs such as birthday parties, weddings etc.Pregnant women exercise classThis is a profitable venture for many, although you need the training to do it. Space for setting up the business will also come in handy.Interior designerIf you have studied architecture, interior designing is perfect for you. All you need is a creative mind.Antique businessAntique business involves the selling of antique items and furniture. This type of business does well in middle-class neighborhoods in India.Coffee or tea businessThe tea and coffee business is booming. Just lookout for a functional space, fill up furniture, and you are ready to go.Packing ServicesYou can do trousseau as well as gift packing from home. The internet is full of fun ideas that you can utilize. If you are a newbie, just have a professional train you.Coaching classesParents in India are always looking for private teachers to tutor their kids. Buy little furniture, books a whiteboard and you are ready to go. With the help of the internet, you can also tutor online as your research on many topics.Fashion BoutiqueIf you have a good sense in fashion, you can as well set up a fashion boutique. Hiring a trained tailor can help you customize fashion designs in accordance with your client's needs.BakeryA bakery is a fun home-based business idea. You can bake attractive foods such as muffins and distribute to physical stores around your area.Ice cream standThis is another lucrative business that can be done at home. Set up one of these and sell many different flavors to attract more people.Home food deliveryMost people find buying food at work and miss homemade food. Why don't you start cooking delicious food at home and delivering to businesses?Digital Marketing servicesNowadays, for businesses to survive, they need quite a significant online presence. You can help companies to market their products online using your computer at home.Currency tradingIf you are great with numbers, venture into currency trading. However, you will be required to work for extended hours and face a lot of risks.Daycare businessYou might be surprised that many parents around your home are looking for credible daycares. Fill in this need by starting a daycare in your neighborhood. You will require functional space to give children enough playrooms.Makeup businessThe beauty business is growing at a fast rate. It is popular with both females and males nowadays. You can never go wrong with this home-based idea.Start your blogBlogging is a fun way of making money part-time. You can start your blog and write creative content on travel, leisure, education and many more topics that people find attractive. Lookup a good web hosting company to help you start on your website.Web DesignTechnology has become an integral part of a variety of businesses today. By venturing into web designing, you can help develop user-friendly websites. Use online resources to sharpen your skill on web design.EBooksWell if you have a skill in cooking, writing, teaching, or technology, you can always summarize expertise in an EBook and sell it online. Gradually create an audience and who knows, you might land yourself a lucrative publishing deal.Phone cases businessThe phone case business idea is a great side hustle for you. You can sell them at trade shows, online market places, parties, among other events. The business requires little capital to start.Virtual AssistantIf you are highly organized, try working as a virtual assistant on up work or Elance. Comfortably do this job when you are free, giving you a chance to broaden your professional skills.Social Media ManagerIt's a sure thing that facebooks, twitter, and Instagram takes up close to ninety percent of your time. Becoming a social media manager can help you turn this into money. Help startup companies gain more social media presence to increase sales online. As your skill in the field increases, venture into more complex ideas such as Facebook Ad campaigns.Travel consultantTravel consulting is another surefire idea. Start by getting client recommendations from people you know or market your services online. After some time, people will always count on you to get them the best travel destinations.Baby SitterBeing a baby sitter will unmistakably make you good cash on the side. If you are at work during weekdays, you can do the babysitting job on the side to assist parents whose schedules are hectic.Online dating consultantThere is no better way of making an extra buck for you as becoming an online dating consultant. Create a website, match singles online and earn your online.Wedding photographyWeddings happen all the time India due to the strong tradition concerning marriage. Passionate photographers can always do wedding photography as a side hustle to help newlyweds create memories of their big day.Build appsSmartphones have become increasingly popular everywhere. There are many apps that are compatible with Apple iOS as well as Android operating systems. Develop an app and let it start earning you a consistent flow of income as it gets more users.Forex tradingMany people fear this venture as they deem it quite risky. However, good training on how to do the business in Forex trading can help you make big profits on platforms such as Etoro where you can sell stocks, CFD assets as well as crypto assets.Professional freelancerBy becoming a freelancer, you can interact with very many clients online. There are many sites like upwork that allow you to do jobs like content writing, programming, web design or even data entry. You can learn how to bid for jobs and send a proposal to clients and get hired for projects or assignments across a variety of niches.Wordpress themesAnother exciting way of earning money is by creating word press themes. This is especially true if you are good at web design as well as HTML coding. Using this skill to generate WordPress themes can earn you lucrative income by selling them on online markets such as theme forest or template monster.Selling photosSelling photos online is an excellent online business, especially if you have the right eye for photography. Come up with unique images and sell them on platforms such as stock photo sites.Youtube videosVideos are fun to watch. Earn online by creating videos with captivating topics. You don't have to buy an expensive camera for this as you can start recording videos using your smartphone.SEO marketingSEO marketing entails ranking websites to increase ranking on top search engines like Google. You may find it difficult as you require learning top-notch tips and tricks.CopywritingThis art involves strategically playing with words to compel people to take action. This can be done on sales, blog content or email marketing to earn you some bucks.Skype coachingAll that is required for Skype coaching is a skill. You can become a life, travel, health, or dating coach.PodcastsYou will also earn money online through the creation of podcasts. This way, you will increase the sales of products that you are selling since you get to build the trust of your customers.Bookkeeping servicesBookkeeping is a great business idea. With the help of online invoicing tools, you can offer services such as offering income statements and balancing sheets.Affiliate MarketingAffiliate marketing is where you earn money by working to market products or even services for businesses. The more sales you can make the profits you earn.Internet Security ConsultantScammers are nowadays giving business nightmares given the sensitive nature of business data. Well with, IT skills, you can start working as an internet consultant where you offer expert advice to businesses on how best to protect their data.Graphic DesignerCompanies always want to be well branded to get recognition from their customers. With the help of computer applications, will be able to invest in a graphic design career where you create fliers, magazines, new letters and many more for businesses, especially start-ups.Desktop PublishingPublishing software can help you establish a desktop publishing business. You can be able to create magazines, books, newsletters, among other marketing materials. You could even hire content writers and editors to boost your efficiency.Tax consultingMost companies nowadays hire tax consulting services as they do want to interfere with the flow of their daily activities. To start a tax consulting franchise, you might need to take a few courses and training if you are to offer the best services.TranslatorTranslations are very easy and highly sort after provided you are good at more than one language; you could earn more than 40,000 dollars every year. Big companies can even hire you to offer them translating services on a contractual basis.Cloud hosting servicesIf you have enough knowledge as well as the capital, you can start up a cloud hosting service that will highly appeal to small businesses as the starting server requirements and get paid.Health clubHealth is important, and without it, you cannot live a full life. People value working out to stay fit; Starting a health club can, therefore, make you very successful.Toy shopChildren will never stop loving toys. Investing in a toy shop can be great for you. You could also make the business more appealing buy customizing the gifts to fit the needs of every child.Hardware storeHardware stores are very lucrative in India. You could stock them with a wide variety of products to appeal to more customers. The starting capital for this venture is relatively moderate.Leather storeLeather is particularly popular with many people because of its long-lasting properties. You can stock your store with various specialty products such as leather shoes, handbags, school bags, wallets and much more.Organic food storeDiseases like cancer have forced people to consume more organic foods. The organic market for food is growing at a relatively high speed. It's a highly profitable venture for as long as you offer quality products.BookstoreA bookstore is another retail business that requires moderate capital to start. Apart from books, you could also incorporate stationery such as pens, sharpeners, diaries, calendars and many more.Eye AccessoriesWith previous experience in eye care, you can open an eye accessories store where you can sell trendy frames, lenses with the latest technology and even sunglasses. Consider a franchise if you are not skilled in this business.Microbrewery PubA microbrewery pub is a brewery which produces brewery at a small scale. You could sell products to small pubs and local joints in your area.Diagnostic CentersIndia is well known for its prowess in the Pharmaceutical Industry. Diagnostic centers are useful for earning profits. You could initiate them as a franchise since they tend to require substantial capital for states.Yoga studioPeople are becoming more aware of the benefits that come with yoga in terms of wellness, along with health. Coming up with a yoga studio is indeed a viable opportunity for most budding entrepreneurs.FisheryThe rate at which the fishery market is growing can never be underestimated. Some of the profitable items that investors can distribute include fresh fish, canned fish, fish pickles and many more.GlassEverybody needs glass in at least one aspect of their life. A glassware wholesale business will be the key to unlocking your success as an entrepreneur.Health care and BeautyThe healthcare and beauty industry is growing at a speed of 15 percent annually. You can decide to distribute anything from personal care items to health care items as you steer your way to profits.Manufacturing and MachineryDistributing machines is a great business idea. However, you stand a better chance of making lucrative profits by starting manufacturing plants, like leather processing plants or food processing plants.Office ProductsPeople are opening new offices by the day. Distributing office products offer good margins. Office products that move fast include pens, notebooks, as well as flaps.Plastic productsPlastic makes up a majority of household items today. You may find this distribution business particularly lucrative. Customers from packaging industries will also come knocking at your door.Kitchen UtensilsKitchen utensils are focal in every home. After purchasing ready-made machinery, there are various products such as knives, pots, spoons that you can produce and sell cheaply.Snack distribution businessIndian Love snacks. Snacking distribution business is a good decision. Wholesalers work by buying snacks from large kitchens and later on repack them and sell to the retail shops.Jewelry distribution businessYou can start small by selling imitation jewelry that requires low investment. Selling to high-end customers might be a bit expensive since you deal with products made of gems, diamond or gold that is premium.Furniture businessPeople are increasingly looking for top-notch furniture that goes well with their interior spaces. You can solve this need by distributing furniture that suits both rural and urban areas.Hope you got an awesome business idea to start with!Also check out my blog on Top 17 Businesss Ideas for Women [2019]And if you are intrested in business and startups, do check out startupsutra.inLeave an upvote if you find something great :-)Thank You

How to Start a BusinessStarting a business involves a whole lot of moving pieces, some more exciting than others. Brainstorming business names? Fun! Filing taxes? ... Not so fun. The trick to successfully getting your business off the ground is to meticulously plan and organize your materials, prioritize properly, and stay on top of the status and performance of each and every one of these moving parts.From registering with the government to getting the word out about your business to making key financial decisions, here’s an overview of what you'll need to do to start a successful business.At its core, a business plan helps you prove to yourself and others whether or not your business idea is worth pursuing. It's the best way to take a step back, look at your idea holistically, and solve for issues years down the road before you start getting into the weeds.This post covers tips for writing a business plan, followed by an outline of what to include and business plan examples. Let's start with some basic, overarching tips before we dive in to the details. Grab yourfree business plan template here and apply the practices below.Narrow down what makes you different.Before you start whipping up a business plan, think carefully about what makes your business unique first. If you're planning to start a new athletic clothing business, for example, then you'll need to differentiate yourself from the numerous other athletic clothing brands out there.What makes yours stand out from the others? Are you planning to make clothing for specific sports or athletic activities, like yoga or hiking or tennis? Do you use environmentally friendly material? Does a certain percentage of your proceeds go to charity? Does your brand promote positive body image?Remember: You're not just selling your product or service -- you're selling a combination of product, value, and brand experience. Think through these big questions and outline them before you dive in to the nitty-gritty of your business plan research.Keep it shortBusiness plans are more short and concise nowadays than they used to be. While it might be tempting to include all the results of your market research, flesh out every single product you plan to sell, and outline exactly what your website will look like, that's actually not helpful in the format of a business plan.Know these details and keep them elsewhere, but exclude everything but the meat and potatoes from the business plan itself. Your business plan shouldn't just be a quick(ish) read -- it should be easy to skim, too.You can (and should) change it as you goKeep in mind that your business plan is a living, breathing document. That means you can update your business plan as things change. For example, you might want to update it a year or two down the road if you're about to apply for a new round of funding.Here are the key elements in a business plan template , what goes into each of them, and a sample business plan section at each step in the process.Business Plan TemplateStep 1. Executive SummaryThe purpose of the executive summary is to give readers a high-level view of the company and the market before delving in to the details. (Pro Tip: Sometimes it's helpful to write the executive summary after you've put together the rest of the plan so you can draw out the key takeaways more easily.)The executive summary should be about a page long, and should cover (in 1–2 paragraphs each):Example of an "Overview" section of the Executive Summary (fromBplans ):Jolly's Java and Bakery (JJB) is a start-up coffee and bakery retail establishment located in southwest Washington. JJB expects to catch the interest of a regular loyal customer base with its broad variety of coffee and pastry products. The company plans to build a strong market position in the town, due to the partners' industry experience and mild competitive climate in the area.JJB aims to offer its products at a competitive price to meet the demand of the middle-to higher-income local market area residents and tourists.Step 2. Company DescriptionNext, you'll have your company description. Here's where you have the chance to give a summary of what your company does, your mission statement, business structure and business owner details, location details, the marketplace needs that your business is trying to meet, and how your products or services actually meet those needs.Example of a "Company Summary" section (from Bplans ):NALB Creative Center is a startup, to go into business in the summer of this year. We will offer a large variety of art and craft supplies, focusing on those items that are currently unavailable on this island. The Internet will continue to be a competitor, as artists use websites to buy familiar products. We will stock products that artists don't necessarily have experience with. We will maintain our price comparisons to include those available online.We will offer classes in the use of new materials and techniques.We will build an Artist's Oasis tour program. We will book local Bed and Breakfasts; provide maps and guides for appropriate plein-air sites; rent easels and materials; sell paint and other supplies and ship completed work to the clients when dry.We will expand the store into an art center including: A fine art gallery, offering original art at, or near, wholesale prices; Musical instruments/studio space; Classrooms for art/music lessons; Art/Music books; Live music/coffee bar; Do-it-Yourself crafts such as specialty T-Shirts, signs, cards, ceramics for the tourist trade.Step 3. Market AnalysisOne of the first questions to ask yourself when you're testing your business idea is whether it has a place in the market. The market will ultimately dictate how successful your business will be. What's your target market, and why would they be interested in buying from you?Get specific here. For example, if you're selling bedding, you can't just include everyone who sleeps in a bed in your target market. You need to target a smaller group of customers first, like teenagers from middle-income families.From there, you might answer questions like: How many teenagers from middle-income families are currently in your country? What bedding do they typically need? Is the market growing or stagnant?Include both an analysis of research that others have done, as well as primary research that you've collected yourself -- whether by customer surveys, interviews, or other methods.This is also where you'll include a competitive analysis. In our example, we'd be answering the question: how many other bedding companies already have a share of the market, and who are they?Outline the strengths and weaknesses of your potential competitors, as well as strategies that will give you a competitive advantage.Example of a "Market Analysis" summary section (from Bplans ):Green Investments has identified two distinct groups of target customers. These two groups of customers are distinguished by their household wealth. They have been grouped as customers with <$1 million and >$1 million in household wealth. The main characteristic that makes both of these groups so attractive is their desire to make a difference in the world by making investment decisions that take into account environmental factors.The financial services industry has many different niches. Some advisors provide general investment services. Others will only offer one type of investments, maybe just mutual funds or might concentrate on bonds. Other service providers will concentrate on a specific niche like technology or socially responsible companies.Market SegmentationGreen Investments has segmented the target market into two distinct groups. The groups can be differentiated by their difference in household wealth, households of <$1 million and >$1 million.Step 4. Products and/or ServicesHere's where you can go into detail about what you're selling and how it benefits your customers. If you aren't able to articulate how you'll help your customers, then your business idea may not be a good one.Start by describing the problem you're solving. Then, go into how you plan to solve it and where your product or service fits into the mix. Finally, talk about the competitive landscape: What other companies are providing solutions to this particular problem, and what sets your solution apart from theirs?Example of a "Products and Services" section (from Bplans ):AMT provides both computer products and services to make them useful to small business. We are especially focused on providing network systems and services to small and medium business. The systems include both PC-based LAN systems and minicomputer server-based systems. Our services include design and installation of network systems, training, and support.Product and Service DescriptionIn personal computers, we support three main lines:1. The Super Home is our smallest and least expensive line, initially positioned by its manufacturer as a home computer. We use it mainly as a cheap workstation for small business installations. Its specifications include ...[additional specifics omitted]2. The Power User is our main up-scale line. It is our most important system for high-end home and small business main workstations, because of .... Its key strengths are .... Its specifications include ....[additional specifics omitted]3. The Business Special is an intermediate system, used to fill the gap in the positioning. Its specifications include ... [additional specifics omitted]In peripherals, accessories and other hardware, we carry a complete line of necessary items from cables to forms to mousepads ... [additional specifics omitted]In service and support, we offer a range of walk-in or depot service, maintenance contracts and on-site guarantees. We have not had much success selling service contracts. Our networking capabilities ...[additional specifics omitted]Competitive ComparisonThe only way we can hope to differentiate well is to define the vision of the company to be an information technology ally to our clients. We will not be able to compete in any effective way with the chains using boxes or products as appliances. We need to offer a real alliance.The benefits we sell include many intangibles: confidence, reliability, knowing that somebody will be there to answer questions and help at the important times.These are complex products, products that require serious knowledge and experience to use, and our competitors sell only the products themselves.Unfortunately, we cannot sell the products at a higher price just because we offer services; the market has shown that it will not support that concept. We have to also sell the service and charge for it separately.Step 5. Operations & ManagementUse this section to outline your business' unique organization and management structure (keeping in mind that you may change it later). Who will be responsible for what? How will tasks and responsibilities be assigned to each person or each team?Includes brief bios of each team member and highlight any relevant experience and education to help make the case for why they're the right person for the job. If you haven't hired people for the planned roles yet, that's OK -- just make sure you identify those gaps and explain what the people in those roles will be responsible for.Example of an "Personnel Plan" section of the Operations & Management section (from Bplans ):The labor force for DIY Wash N' Fix will be small. It will consist of a part-time general manager to handle inter-business relationships and corporate responsibilities. In addition, DIY Wash N' Fix will employ three certified mechanics/managers; their duties will consist of the day-to-day operation of the firm. These duties fall into two categories: managerial and operational. Managerial tasks include: scheduling, inventory control and basic bookkeeping. Safety, regulatory issues, customer service and repair advice are the operational tasks they will be responsible for.Additionally, customer service clerks will be hired to perform the most basic tasks: customer service and custodial. DIY Wash N' Fix will have a single general manager to coordinate all outside business activities and partnerships. The business relationships would include accounting services, legal counsel, vendors and suppliers, maintenance providers, banking services, advertising and marketing services, and investment services. Laurie Snyder will fill this general management position. She will be receiving an MBA from the University of Notre Dame in May 2001.The daily management of the business will be left to the lead mechanic. Even though DIY Wash N' Fix is not a full service repair shop it can be expected that some customers will attempt repairs they are not familiar with and need advice. Therefore, we intend to hire three fully certified mechanics. The mechanics will not be authorized to perform any work on a customer's car, but they will be able to take a look at the car to evaluate the problem. To reduce our liability for repairs done incorrectly we feel only professional mechanics should give advice to customers. The primary function of the mechanics will be customer service and managerial responsibilities.Step 6. Marketing & Sales PlanThis is where you can plan out your comprehensive marketing and sales strategies that'll cover how you actually plan to sell your product. Before you work on your marketing and sales plan, you'll need to have your market analysis completely fleshed out, and choose your target buyer personas, i.e., your ideal customers. (Learn how to create buyer personas here .)On the marketing side, you'll want to cover answers to questions like: How do you plan to penetrate the market? How will you grow your business? Which channels will you focus on for distribution? How will you communicate with your customers?On the sales side, you'll need to cover answers to questions like: what's your sales strategy? What will your sales team look like, and how do you plan to grow it over time?How many sales calls will you need to make to make a sale? What's the average price per sale? Speaking of average price per sale, here's where you can go into your pricing strategy.Example of a "Marketing Plan" section (from Bplans ):The Skate Zone plans to be the first amateur inline hockey facility in Miami, Florida. Due to the overwhelming growth of inline hockey throughout the United States, the company's promotional plans are open to various media and a range of marketing communications. The following is a list of those available presently.Public relations. Press releases are issued to both technical trade journals and major business publications such as USAHockey Inline, INLINE the skate magazine, PowerPlay, and others.Tournaments. The Skate Zone will represent its services at championship tournaments that are held annually across the United States.Print advertising and article publishing. The company's print advertising program includes advertisements in The Yellow Pages, Miami Express News, The Skate Zone Mailing, school flyers, and inline hockey trade magazines.Internet. The Skate Zone currently has a website and has received several inquiries from it. Plans are underway to upgrade it to a more professional and effective site. In the future, this is expected to be one of the company's primary marketing channels.Step 7. Financial PlanFinally, outline your financial model in detail, including your start-up cost, financial projections, and a funding request if you're pitching to investors.Your start-up cost refers to the resources you'll need to get your business started -- and an estimate of how much each of those resources will cost. Are you leasing an office space? Do you need a computer? A phone? List out these needs and how much they'll cost, and be honest and conservative in your estimates. The last thing you want to do is run out of money.Once you've outlined your costs, you'll need to justify them by detailing your financial projections. This is especially important if you're looking for funding for your business (which you’ll learn more about below). Make sure your financial model is 100% accurate for the best chance of convincing investors and loan sources to support your business.The following table is the projected Profit and Loss statement for Markam. (fromBplans ):Image source: BplansStep 8. AppendixFinally, consider closing out your business plan with an appendix. The appendix is optional, but it's a helpful place to include your resume and the resume(s) of your co-founder(s), as well as any permits, leases, and other legal information you want to include.Making Your Business LegalOnce the business plan is in place, you get to move on to the even less romantic part -- the paperwork and legal activities. This includes things like determining the legal structure of your business, nailing down your business name, registering with the government, and -- depending on your business structure and industry -- getting a tax code, a business license, and/or a seller’s permit.Furthermore, businesses are regulated on the federal, the state, and sometimes even local level. It’s important to check what’s required on all three of those levels. When you register your business with the government, be sure you’re covering registration on all the levels required for your business’ location. Your business won’t be a legal entity without checking these boxes, so stay on top of it.Below, you’ll find a brief explanation of what goes into each one of these steps, along with links to helpful resources where you can dig in to the details. (Note: These steps are for starting a business in the U.S. only.)Determining the Legal Structure of Your BusinessThe 4 most common business structures1. Sole proprietorship2. Partnership3. Limited liability company (LLC)Example: A small design firm.4. CorporationThe corporation does not get a tax deduction when it distributes dividends to shareholders. Shareholders cannot deduct any loss of the corporation, but they are also not responsible directly for taxes on their earnings – just on the dividends they give to shareholders.S corporations, on the other hand have only one level of taxation. Learn more about the difference between "C corporations" and "S corporations" here , and find IRS tax forms here .Choosing & Registering Your Business NameEstablishing a business name is a little more complicated than making a list and picking your favorite. If you’re using a name other than your personal name, then you need to register it with your state government so they know you’re doing business with a name other than your given name.Before you register, you need to make sure the name you want is available in your state. Business names are registered on a state-by-state basis, so it’s possible that a company in another state could have the same name as yours.This is only concerning if there’s a trademark on the name. Do a Trademark search of your desired name to avoid expensive issues down the road.For new corporations and LLCs: Your business name is automatically registered with your state when you register your business -- so you don’t have to go through a separate process. There are rules for naming a corporation and LLC, which you can read about here .For sole proprietorships, partnerships, and existing corporations and LLCs (if you want to do business with a name other than their registered name), you’ll need to register what’s called a “Doing Business As” (DBA) name. You can do so either by going to your county clerk office or with your state government, depending which state you’re in. Learn how to do that here .Want to trademark your business name? A trademark protects words, names, symbols, and logos that distinguish goods and services. Filing for a trademark costs less than $300, and you can learn how to do ithere .What is it and do you need one?The seller’s permit allows you to collect sales tax from buyers. You’ll then pay that sales tax to the state each quarter by putting the sales tax permit number on the state’s tax payment form.You can register for a seller's permit through your state's Board of Equalization, Sales Tax Commission, or Franchise Tax Board. To help you find the appropriate offices, find your state on this IRS website .Small Business TaxBusiness owners are obligated to pay specific federal taxes, and the amount of those taxes is determined by the form of business entity that you establish. All businesses except for partnerships need to file an annual income tax return. Partnerships file what’s called an information return .Any business that’s owned and operated in the United States needs an Employer Identification Number (EIN), which you can apply for on the IRS’ website here . Once you’re registered, it’s time to figure out which taxes you’ll be responsible for. Here are the three types:Marketing, Sales, and Services TipsHow to get customers and keep them happyOnce you’ve registered your new business with the government and gotten the legal paperwork squared away, how do you go about, you know ... acquiring customers?Before you can receive any significant funding for your business (which we'll talk about in the next section), you need to start building an online presence and marketing your business, as well as getting a sales process together and beginning to sell your product or service.Turns out that generating demand and earning customers needs to come before you can viably ask for funding from an external source. And once you start generating customers, you’ll need to retain them – which is where customer service comes in. Learn more about customer service here .Customer Code: Creating a Company Customers Love from HubSpotMarketing Your Small BusinessA new company needs to start drumming up interest for its product or service even before it’s ready to ship. But there are a million different platforms and avenues you can use to drive awareness … so where on earth do you start?Narrow down your target customerIt all comes down to your target customer. You won't be able to position what you're selling to meet customers' needs without knowing who they are. One of the very first questions you need to ask yourself is: Who wants what I’m selling? Who would find it useful? Who would love it?Then, you need to dig in to who that person is or those people are, and what kind of messaging would resonate with them. That includes their backgrounds, interests, goals, and challenges, in addition to how old they are, what they do every day, which social platforms they use, and so on.Creating very specific buyer personas can dramatically improve your business results.Read this step-by-step guide on how to create buyer personas , which includes buyer persona templates you can customize yourself. Once you’ve picked a buyer persona or two, print them out, tack them onto your wall, and think about their interests and needs before making every business decision.Develop a brand identityIn addition to researching your target customer, when you’re first starting a business, you’ll need to build the foundation for a strong brand identity. Your brand identity is about your values, how you communicate concepts, and which emotions you want your customers to feel when they interact with your business. Having a consistent brand identity to promote your business will make you look more professional and help you attract new customers.Build your online presenceWith your target customer and your brand identity under your belt, you can begin building the core marketing elements of your small business, which includes your website, your blog, your email tool, your conversion tool, and your social media accounts. To dive deeper into these topics, read our beginner’s guide to small business marketing here .Generate and nurture leadsOnce you've started building an online presence and creating awareness for your business, you need to generate the leads that will close into customers. Lead generation is the process of attracting and converting strangers and prospects into leads, and if you build a successful lead generation engine, you'll be able to keep your funnel full of sales prospects while you sleep.What does a successful lead generation process look like? Learn more about lead generation here , and click the button below to try HubSpot's free marketing tools , our free lead generation tool that lets you track your website visitors and leads in a single contact database.Free Marketing Tools & ResourcesHere are some helpful resources to help you spread awareness, build your online presence, and get the leads you need for free.Selling Your Products or ServicesSet up your sales infrastructure.By taking the time to set up your sales process from the get-go, you’ll avoid painful headaches that come with lost data down the line. Start with a CRM, which is a central database where you can keep track of all your clients and prospective clients in one place. There are loads of options out there, and you’ll want to evaluate the CRMs that cater to small businesses . (Excel doesn’t count!)Identify your sales goals.Don’t get intimidated by sales lingo such as KPIs and ROI. All this means is that you need to figure out what you need coming into your business to make ends meet and grow: how much revenue do you need, and how many products do you need to sell to hit that target?Hire a sales repWhen you’re starting your business, it’s tempting to do everything yourself, including taking on sales. However, making that first sales hire is crucial to scaling – you need someone dedicated to understanding your buyer and selling to them full-time. When looking for that first sales hire, seniority should be less of a priority than how much sales experience they have on the front lines and whether they understand your business’s target buyer.Get more out of your sales activities.Efficiency is key. Put together a sales process, such as this helpful 7-step sales process framework , which works regardless of your business size. You'll also want to automate sales tasks (such as data entry), or set up notifications when a prospective customer takes an action. That way, you spend less time poring through records and calling the wrong prospects and more on strategy and actual selling.Free Sales Tools & ResourcesHere are some helpful templates tools to help you build an efficient sales engine, reach prospects, and close customers for free.Enroll in HubSpot Academy to learn everything you need to know about digital marketing and sales. Train your whole team for free! Sign Up For FreeKeeping Your Customers HappyGetting net new customers in the door is important, but retaining them is just as important. You can’t ignore customers once you’ve closed them – you have to take care of them, give them stellar customer service, and nurture them to become fans of (and even evangelists for) your business.While inbound marketing and sales are both critical to your funnel, the funnel doesn’t end there: The reality is that the amount of time and effort that you spend perfecting your strategy in those areas will amount to very little if you’re unable to retain happy customers.This means that building a model for customer success should be central to your organization. Think for a second about all the different ways reviews, social media, and online aggregators spread information about your products.They’re all quick and effective, for better or for worse. While your marketing and sales playbooks are within your control and yours to perfect, a large chunk of your prospects are evaluating your company based on the content and materials that other people are circulating about your brand.Here are some tips for how to keep your customers happy and stand out as a stellar business:React quicklyPeople expect fast resolution times (some faster than others depending on the channel), so it’s essential to be nimble and efficiently keep up with requests so that you’re consistently providing excellent service to avoid losing trust with your customers.Pay attention to the volume of your company mentions on different channels. Identify where your customers spend the most time and are asking the most questions, and then meet them there, whether it’s on a social network, on Yelp, or somewhere else.Keep track of touchpoints with individual customers.Interactions with your customers are best informed by context. Keep track of all the touchpoints you’ve had with individual customers because having a view into their experience with your company will pay dividends in the long run.How long have they been a customer? What was their experience in the sales process? How many purchases have they made? Have they given positive/critical feedback about your support experience or products? Knowing the answers to these questions will give you a more complete picture when you respond to inquiries and will help you have more productive conversations with customers.Create feedback loops.From the moment you have your first customer, you should be actively seeking out insights from them. As your business grows, this will become harder -- but remember that your customer-facing employees are a valuable source of information because they are most in tune with your buyers and potential buyers.Create a FAQ page for your website.Give customers the tools to help themselves, and scale this program as you grow. When you’re starting out, this might take the form of a simple FAQ page. Over time, as your customer base grows, turn your website into a resource for your customers and enable them to self-service – such as evolving that FAQ page into a knowledge base or library that answers common questions and/or gives customers instructions.From the day you start building your business until the point where you can make a consistent profit, you need to finance your operation and growth with start-up capital. Some founders can finance their business entirely on their own dime or through friends and family, which is called “bootstrapping.”This obviously gives the business owners a ton of flexibility for running the business, although it means taking on a larger financial risk -- and when family’s involved, can lead to awkward holiday dinner conversations if things go wrong.Many founders need external start-up capital to get their business off the ground. If that sounds like you, keep on reading to learn about the most common kinds of external capital you can raise.Seed FinancingIf you’re looking for a relatively small amount of money, say, the investigation of a market opportunity or the development of the initial version of a product or service, then Seed financing might be for you.There are many different kinds of seed financing, but the one you’ve probably heard of most is called Seed-round financing. In this case, someone will invest in your company in exchange for preferred stock. If your company gets sold or liquidated, then investors who hold preferred stock often have the right to get their investment back -- and, in most cases, an additional return, called “preferred dividends” or “liquidation preferences” -- before holders of common stock are paid.AcceleratorAccelerators are highly competitive programs that typically involve applying and then competing against other startups in a public pitch event or demo day. In addition to winning funding and seed capital, winners of these programs are also rewarded with mentorship and educational programs.Although accelerators were originally mostly tech companies and centered around Silicon Valley, you can now find them all over the country and in all different industries. If this sounds like something you’d be interested in, here’s a list of the top accelerators in the United States to get you started.Small Business LoanIf you have a really rock-solid plan for how you’ll spend the money in place, then you might be able to convince a bank, a lender, a community development organization, or a micro-lending institution to grant you a loan.There are many different types of loans, including loans with the bank, real estate loans, equipment loans, and more. To successfully get one, you’re going to need to articulate exactly how you’ll spend every single penny -- so make sure you have a solid business plan in place before you apply. You can learn more about Small Business Administration’s loan programs here .CrowdfundingYou might ask yourself, what about companies that get funding through platforms like Kickstarter and Indiegogo? That’s called crowdfunding, which is a newer way of funding a business.More importantly, it typically doesn’t entail giving partial ownership of the business away. Instead, it’s a way of getting funding not from potential co-owners, but from potential fans and customers who want to support the business idea, but not necessarily own it.What you give donors in exchange is entirely up to you -- and typically, people will come away with early access to a product, or a special version of a product, or a meet-and-greet with the founders.Learn more about crowdfunding here .Venture Capital FinancingOnly a very small percentage of businesses are either fit for venture capital or have access to it. All the other methods described earlier are available to the vast majority of new businesses.If you’re looking for a significant amount of money to start your company and can prove you can quickly grow its value, then venture capital financing is probably the right move for you.Venture capital financing usually means one or more venture capital firms make large investments in your company in exchange for preferred stock of the company -- but, in addition to getting that preferred return like they would in series seed financing, venture capital investors also usually get governance rights, like a seat on the Board of Directors or approval rights on certain transactions.VC financing typically occurs when a company can demonstrate a significant business opportunity to quickly grow the value of the company but requires significant capital to do so.A business plan is a living document that maps out the details of your business. It covers what your business will sell, how it will be structured, what the market looks like, how you plan to sell your product or service, what funding you'll need, what your financial projections are, and which permits, leases, and other documentation will be required.