Do you fancy yourself the next founder of Facebook or Uber? Do you want to build a tech company or sell products of your own making? Sounds like you are ready to break away from the drudge of a career that inhibits personal growth.
As with any business, startups require forethought and strategy to be successful and profitable. Below are some strategies that will help your startup gain traction.
Set Short and Long Term Goals
Make short term and long term goals for your startup. Obviously, profit goals come to mind, but much more can be achieved than profits.
Set personal goals for yourself such as creating deadlines for tasks that will get your startup idea off the ground. Business growth goals are also a must. Contemplate if it will need employees and whether the products/services will be driven by quantity or quality.
Plan Your Finances
Your startup’s structure will determine how much you need to invest in the beginning stages. An online startup requires very little investment from the onset for things like a website and business tools. Utilizing the Internet and social media may be all you need for marketing.
However, a startup that has a physical storefront requires more funding. Unless you already have enough in savings, you will need to create a business plan to pitch to lenders or investors. For either situation, keep finances for taxes, insurance, licensing/permit fees, and advisers in mind.
The state of Mississippi requires businesses that sell goods/services to obtain a sales tax number through the Mississippi State Tax Commission. Also, if you intend to have employees, the state requires worker’s compensation insurance for all employees if the business meets certain criteria.
Making It Official
Before conducting actual business through your startup, it’s best to make it official. Through a business lawyer, you can set your startup as a sole proprietorship, LLC, partnership, or corporation.  Tennessee, Mississippi, Missouri and most other states are all different in their requirements for starting a business.  For instance, you register your startup’s “Doing Business as” or DBA name through the Mississippi Secretary of State, and obtain licensure and permits through the state. Online startup owners should also check with a lawyer about setting up privacy policies, trademarks, and copyrights.
Building a startup requires creativity, planning, and organization that has the potential for substantial personal growth for the owner. The process runs more smoothly if you have a team of advisers for support.

For all your legal advising needs, let Bosserman Law help you