Business Name, Fees, Trademark? Where to Start When Starting a Small Business?
- The Virgo Next Door
- Jun 13, 2023
- 5 min read
Updated: Jun 13, 2023
If you're anything like me, realizing and wanting to start a business seems like a daunting and overwhelming task. Although, I pride myself on my ability to manage complex projects and adhere to published guidelines, it can be very intimidating when interacting with Uncle Sam or in this case, Uncle Joe, or otherwise referred to: Government Entities(really, the IRS). I pay enough in taxes and quite frankly, Im not looking for any more interaction with the government than absolutely necessary. But I knew I wanted to have my own business for quite some time, and although the task seem intimidating, I was willing to try.
Below, I've listed a few helpful tips for things to do and/or consider before, during, and after you've incorporated your business. This is not legal advise, and please consult with an attorney prior to submission of any documents.
1. Secure a Unique Small Business Name
This may see very simple, but in fact, its one of the most important components. Your small business/brand name are the first introduction you have to your target audience, so be sure to choose a name that communicates your values, mission and whatever likeness you want to align your business with. Be sure to check the federal trademark and register to ensure your new business name is not already trademarked!
2. Research Which Type of Small Business You Would Like to Start.
Most people elect to incorporate a LLC, but there are a variety of business structures that boast many benefits and/or cons. I personally elected for an LLC, however based on your business endeavors, you may way to incorporate a different type of business structure. Below is a useful table that can help you navigate incorporating your business in your respective state. Please note, requirements and fees vary by state.
| |||
| |||
| |||
| |||
| |||
|
3.Trademark
All great businesses start with a great name. However, sometimes, business names are registered or trademarked by others. To ensure you are not infringing on another business's likeness or name, which may bring premature legal woes and headaches, be sure to check and trademark your business BEFORE you incorporate your business(make sure to forward think about your business structure, because if you trademark Next Door, your business name on paper will be Next Door LLC in some states, so just be careful as you proceed).
4. Start Your Small Business Online Presence.
i established my online presence first, as I was fearful that someone would purchase my domain before I had the chance to secure it. So be sure to secure your online domain as soon as you can to ensure your domain is your own! There are a number of domain hosting sites, or a website builder tool that will allow you purchase your domain so chose based on the anticipated needs of your business. Personally, I suggest purchasing your own domain from Google as they seemed to have the best pricing and customer support, however below are some alternatives that you may like to research on your own:
1. Google Domains:
Pro:
Customer Support. As a former customer experience manager I value the customer first approach that google embodies. When I had an issue with my account, I was able to reach a rep at 1:00 AM in the morning and have my problem resolved.
Pricing. Google Domain pricing starts at $7 per YEAR, and comes with a lot features that you may or may not use or be versed with. If you are looking for the best bag for your buck, make sure to decline some of the features to keep your costs low. However, declining said features, may leave you without appropriate protections and services you need.
Con:
Although Google offers over 300 domain endings(.org, .com, etc), it is not clearly disclosed on their page that the cost of the ending can change the price you pay until you have started the process of searching your proposed domain on their site. For example, my domain ending ".com" was more expensive than the ".org" option.
You have to pay for additional user access, or email addresses if you want your accounts to have the same domain ending for their emails. For example, if you have the admin account which uses your normal credentials, that is included in the pricing of $7 per month, however if you want to add a Customer Relations Email that uses your domains ending, you have to pay more for that.
Pro:
Pricing is great, but some of the included features that Google Provides in their pricing/services is considered Add Ons for Namecheap.
Always a Promo. Now, I for one am always looking for a deal and Namecheap is just that. There seems to always be a deal available for new customers.
Con:
Although it is the cheaper starting option, I suggest looking into the trade offs of using them vs. Google. Some of the Add Ons that Namecheap requires payment through a bundle services, are things that you can get separately for a cheaper cost.
Once a customer, you seem to become ineligible for the new promo's that are given to new customers. That begs the question as to whether Namecheap really values its current customer over retaining new business. This is simply my personal thought so I could be wrong.
The website homepage is a catch all for every promo the company is running. It was really overwhelming and hard to navigate, which opt'd me to turn away when searching.
Pro
if the only thing you want out of your Domain Host is your domain, I highly suggest using Hover.
Connecting your domain to your shop(whether it is Shopify, Etsy or another storefront), seems fairly simple.
The site is straightforward and simple to navigate. I love simple and efficient website because it allows me to get the answer I need fast.
Con:
Because its model is simple, thats what you get. As noted above, Google offers options in their basic pricing that come in a bundle charge for Hover.
When Starting a Small Business, most use cost to decide which domain host to use. If that is how you choose to make your decision, please weigh the tradeoff of using cheaper resources rather than investing more upfront.
5. Starting Your Small Business Should Be The Fun Part.
Starting a small business is extremely stressful and sometimes overwhelming. Whether you're fearful or somewhat discouraged, take each misstep as an opportunity to learn. Remember, you are doing things on your own, and most successful blogs started just as yours is....from the ground. You can not foresee every hurdle and sometimes you will struggle to resolve it, but with time and a little wine you can make lemonade out of lemons.
If you are unsure of what to do, or what avenue to take, remember this quote from the amazing Oprah Winfrey, “When you’re open to receiving them, the possibilities just keep on coming.” Be open to new experiences, insights, and advise, but most of all, be open to failure and lessons. In the end, the reward will be so much greater than the losses over time.
Comment Below if you have any tips you want readers to know or if you think this advice was helpful!! If you don't feel comfortable leaving remarks, our community would love a simply like/heart on this post!
Comments