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Branding Your Business and Creating a
Business Identity
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Before you open your business doors, there are essential
steps you should take
to decide what your business
identity will be, and creating branding for your
business.
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Creating Your Business Identity Before you 'open' your Gift Basket business be sure to:
- Research the 'business' of gift baskets and have a clear idea of what
you'll be doing and who your customers are.
- Complete a formal or informal business plan, or at the
very least - create a business plan outline.
- Consider the advantages and disadvantages of each, and
then determine which 'legal structure' your business will
operate under. Most small or home businesses begin as a Sole
Proprietorship,
but consider the risks before you make a
decision.
- Check and confirm all legal requirements or zoning
restrictions if you're going to operate a home business.
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Establish Your Business Identity
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Here are the steps you can follow to establish your
business identity. |
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Business Name and Tagline:
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A business name and tagline will create excitement and
buzz for your business and will be a key element in your
future marketing efforts. You want a name that's easy to
remember, easy to spell, easy to pronounce, and one that
relates to the product or service you're selling. A
tagline is an integral piece of your unique business
identity and is meant to be in use for as long as your
company is in business. A tagline is a word or phrase
that helps people to identify with what you're selling.
Examples of taglines are:
'Just Do It' [Nike]
'What happens here, stays here' [Las Vegas]
'Think Outside the Bun' [Taco Bell]
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Think of three to six different business names and
taglines. You'll want to make sure they are not already
in use, and you'll want to research to confirm they're
available. You can check availability of a business name
through your state Secretary of State's office. You'll
enter your proposed business names to see if that name
is already registered. You also want to check at the
Federal level to see if a trademark is in force for both
your business name, and tagline.
Once you've decided on several (say, at least five)
names and taglines, you'll want to research them to make
sure they're available. You don't want to use them if
they're already being used, especially if that business
is one of your competitors or is located in your area.
You certainly don't want to infringe on someone else's
trademark or service mark.Be sure to establish your
business address and telephone numbers before you
register your business with your state. This way, you
won't need to update your records with the Secretary of
State's office once you get a business address and phone
number and your personal contact information won't be
used for your business contact information.
Whether you initially plan to have a website, and
sell your products on the Internet, it's highly
recommended, that one you've registered your business
name - you should, immediately Register a Domain Name.
Domain names are inexpensive (under $10. per year).
It's getting more and more difficult to secure a good
domain name, so you may regret waiting to register
yours. You don't have to have Hosting until you're ready
to launch a website. You just pay the domain renewal fee
each year, or you can register a domain name for five or
ten years at a time. Choose a domain name that either:
a) is the name of your business or b) is short &
memorable and directly descriptive of your product or
business.
While it's tempting to share your new business name,
domain name and tagline with all your friends and family
- it's best to keep it under wraps for a while. Keep it
a secret until all are registered. There's always the
chance that someone will overhear a conversation and
register your name or use your tagline before you get
the opportunity to register it yourself. |
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Establish an Address and Phone Number
for Your Business:
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In most cases, it's best to have a separate address
and phone number for your business. You don't want your
home address listed on your Business License. When
operating a home business, use a PO Box as your address,
or use a private mail services, as a UPS Store.
If you're a one-person business operating from home,
you want to emulate a professional business. When you're
first starting out if you have a cell phone, use that
number or purchase a second cell phone and use it as
your business line. Most mobile phone providers have a
'Business' option for mobile phones used for business
purposes. You want to be sure to record a
professional-sounding voicemail greeting, so clients or
customers have that best 'first impression'. Another
phone option, is to purchase a pre-paid cell phone. |
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Employer ID Number with the IRS:
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You may not be required to have an EIN but getting one
is most often a good idea, as it makes it easier to open
a bank account in your business name and will allow you
to keep your social security number confidential. You
can complete an online EIN
application on the IRS website. With your successful
online application, you'll be issued your EIN on the
spot, so you won't need to wait ti open your business
bank account.
You can continue to use your original EIN if your
business location changes, or if you change your
business name. You can also use the same EIN for
multiple businesses you operate. For a home business
already in operation, you'll only ever need a new EIN:
- If you are the subject of a bankruptcy
- If you take in partners and operate as a
partnership
- If you purchase or inherit an existing business
that you operate as a sole proprietorship
- If you change your legal business form to LLC
and plan to hire one or more employees within the
next 12 months, you'll need a second EIN for the LLC
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Open a Business Checking Bank Account
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Part of having a business identity is to make sure you
separate your business finances from your personal
banking and finances. Most banks and credit unions offer
Business accounts, and while you won't earn interest on
your business funds, having a business checking account
will assist you in establishing credit for your
business. When you open your business checking
account, also consider opening a savings account at the
same time. The savings account will earn interest on
accumulated funds, funds you can use to pay future
bills, plus it'll be a positive stepping stone when you
apply for a bank credit card in your business name. |
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Creating a Business Logo
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A good logo plays double duty. A good logo draws
attention to your business, and gives people a positive
association between you, your logo, your products, and
your business. A logo should be a simple 'less is
more' design, along with your business name. Your
decision whether to include your tagline or not. Limit
the logo to three colors.
A graphic designer will provide the logo to you
either on a CD or a Flash Memory Stick. Make sure you
get your logo in both web and print formats. Keep the
Logo CD/Flash in a safe place. You'll want to use the
logo files when you're ready to get a website. |
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Ordering Business Cards and Business
Stationary
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Once your logo is ready to go, you can then go ahead and
order your business cards and stationary. |
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