So you want to be your own boss, huh? There's nothing wrong with that! In fact, being an entrepreneur has become increasingly popular in recent years. And there's no time like the present to start your own business. But where do you even begin? Relax—we've got you covered. Here's a step-by-step guide from the Meridian Chamber of Commerce on how to start a business in just 8 hours.

8:00–9:00 AM

Choose a Business Idea

The first step is to come up with a business idea. What are you passionate about? What skills do you have? What needs are not being met in your community? Once you've identified a need you can fill, you're well on your way to starting your own business.

9:00–10:00 AM

Outline Your Business Goals

What are your long-term and short-term goals for your business? Do you want to make a certain amount of money? Do you want to employ a certain number of people? Do you want to be the go-to expert in your field? Once you know what you want to achieve, you can begin working towards those goals.

10:00–11:00 AM

Choose a Business Structure

There are several different types of business structures, and the one you choose will depend on several factors, including the size and scope of your business, as well as your personal preferences. The most common types of business structures are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.

11:00–12:00 PM

Open a Business Bank Account

Once you've chosen a business structure, it's time to open a separate bank account for your business. This will help you keep track of your expenses and income, and it will also make it easier come tax time. Plus, it just makes good financial sense to keep your personal and business finances separate.

12:00–1:00 PM

Decide on a Marketing Plan

Marketing is essential for any business's success, so it's important to develop a plan that will help you reach your target audience. There are many different marketing channels available, so it's important to choose the ones that will work best for your particular business. Some popular marketing channels include social media, email marketing, content marketing, and pay-per-click (PPC) advertising.

1:00–2:00 PM

Focus on Where to Find Customers

Once you've developed a marketing plan, it's time to start thinking about where to actually find customers for your product or service. If you're selling physical goods, then brick-and-mortar stores or online retailers could be potential markets for your products. If you're selling services, then target businesses or individuals who would benefit from what you have to offer.

2:00–3:00 PM

Hire Freelancers

As your business starts to grow, there may come a time when you need some extra help—but you may not be ready (or able) to commit to hiring full-time employees just yet. In instances like these, hiring freelancers can be a great option. You can find freelancers online through platforms like Upwork or Fiverr; simply post a job listing and wait for qualified candidates to apply.

3:00–4:00 PM

Plan How to Stay Organized

One of the challenges of running a small business is staying organized—especially when it comes back to documents like invoices, contracts, etc. If this isn't something that comes naturally to you, don't worry! There are plenty of document management tools out there that can make life much easier for small business owners. Google Drive, Dropbox, and Evernote are all great options worth considering. Just sign up for an account and start uploading files. Staying organized has never been so easy!  

If you’re working with a team to create a document, such as a proposal or report, you may find yourself with several PDFs that need to be combined into one file. If you need to merge PDFs online, use a free merge tool. Its as simple as adding the files to the drop zone, rearranging them, and selecting Merge.

Take the Steps and Get Started

Starting a business takes time and commitment—but it can be done! Following these steps should help get your small business up and running within 8 hours. It all starts with your great idea, so take the time to work out the details of your business and marketing plans before diving in. And take advantage of any help you find along the way, whether it’s freelancer or free online editing tools. Once things begin to fall into place, you’ll start to see the benefits of being an entrepreneur. 

Membership in the Meridian Chamber of Commerce offers invaluable benefits to entrepreneurs in our community. Join us today!