Small businesses, self-owned businesses, and, at the other end of the spectrum, huge multimillion dollar companies are finding their way into the California marketplace. There are many of people who have great ideas and envision what they think could be lucrative business opportunities, but some will take it to the next level and seek advice about how to actually bring those ideas to fruition. When that happens, challenges can arise in the business formations stage of company creation that are best addressed with experienced guidance.
Taking a plan from its idea phase to functioning business stage, and, hopefully onto its success stage, entails several key factors to which budding business owners will want to pay attention. For instance, when planning to pitch a new business idea to potential financial backers or future customers, it is typically best to have projected numbers in writing. Apparently, telling others why an idea is great is not always as convincing as showing them on paper how the venture will earn income and the potential profit that is available.
Some say convincing possible business supporters that a business will solve their problems is a good way to get them on board with an idea. Presenting evidence of an existing problem, then demonstrating how one’s business will solve that problem seems to work in many instances. Entrepreneurs are also advised to choose their business names and titles carefully.
There can be several legalities involved with adopting a new business name. Anyone entering this phase of business formations in California will want to seek clarification of federal laws regarding copyright or trademark regulations that may affect business name choices. A skilled business attorney can clarify such issues and also provide guidance to help new business owners avoid potentially litigious situations.
Source: entrepreneur.com, “The 4 Essential Steps From Startup Idea to Being Really in Business”, Ayodeji Onibalusi, July 15, 2016
