 How to set up a business for under a thousand bucks can you do it? Yes, you can according to my mate the author Dan Flashman and Brandon Hampton of the book which is literally called how to set up your business for under a thousand dollars At the beginning of the book. There's a 30-point checklist So let me just go through the checklist now and then I'll talk a little bit about You know how I set up my businesses and I usually do it for about 500 bucks Even this is which is under a thousand dollars, which is awesome. Alright, so here it is the checklist is number one have a great idea Number two come up with a memorable easy to spell catchy business name Number three research the overall industry Competitors in every detail that you can find number four figure out how much it's going to cost to start and operate your business Number five ask your family friends and associates what they think about your business Number six determine how you will finance each stage of the business Seven write down an executive summary an executive summary means basically a business plan. How are you going to do it? number eight Write down the business plan number nine register your website domain name So you might go to go daddy or whatever and just register the name Number ten register the name spelled correctly exactly the same across all major social media platforms Number eleven fill out the same bio on Facebook Instagram Twitter Pinterest Snapchat and YouTube I'm doing a review of the book how to set up your business for under a thousand dollars by Dan Fleischman and Brandon Hampton Number twelve file for a corporation partnership LLC. Once you've determined legal structure 13 Do your SWAT analysis? Number 14 register a business name with your state government Number 15 get a tax identification number Number 16 is register for state and local taxes 17 is open a bank account 18 obtained business licenses and permits number 19 search and apply for trademark patent And a patent on US PTO gov when applicable number 20 is build a website 21 make a logo business cards letterhead invoice purchase order forms sales sheet 22 set up a payment processor to handle your transactions 23 is create an accounting system 24 search for conventions trade shows networking events to attend 25 find business vendors suppliers service providers potential partners 26 look for a business mentor that can help guide you 27 refine your pitch 28 prepare your marketing plan 29 scream from the mountain tops about your company to get people to support you and then number 30 is sell sell sell So there you go. There's your 30-point checklist for setting up your business And then there's another section here, which is like 20 questions before starting And the questions include like why am I starting a business? What kind of business do I want? Who is my ideal customer? What products or services will my business provide? Am I prepared to spend the time and money needed to get my business started? What differentiates my business idea and the products or services I will provide from others in the market Where will my business be located? How many employees will I need? What type of suppliers do I need? How much money do I need to get started? Will I need to get a loan? How soon will it take before my products or services are available? Etc etc etc etc keeps going now he outlines I should say Things in here like how to write your executive summary how to write a business plan How to come up with a marketing plan and then it towards the end of the book He gives you a whole lot of pretty cool Apps and things that you can use To help you with your business to get signed up to certain things and design and you know get a website designed and Market research and forms and surveys and web hosting and there's a cool little section in the backcourt resources I've met Dan Fleischman and Brandon Hampton. They're both great guys Dan Fleischman is the youngest owner of a publicly traded company in history and Brandon Hampton is the largest independent social media publisher in the world So yeah, I I've set up a few businesses now and I've done it all for around about 500 bucks That's all you need a lot of people think mistakenly that you need to like all this money money capital investment Just to get started. No, what you want to do is you want to come up with an MVP a minimum viable product That means just do something so so so so small and simple But doesn't cost a lot of money and just get it out there and test it For example my swanese blue light blocking glasses Chris. Can you grab my a pair of my swanese for me, please? So when I first designed and created my swanese blue light blocking glasses I Made sure that I got a minimum order a minimum order from My manufacturer here. They are here So I didn't I didn't spend like ten thousand dollars buying like a thousand new or thousand or two thousand units or whatever I'm just making up numbers here But I didn't spend ten thousand dollars and buy ten thousand different units to try to sell and just like cross my fingers And hope for the best. Yes We're gonna sell these or geez. I hope we sell them. No, I just did a minimum order Which means initially I only purchased three hundred Three hundred of my swanese blue light blocking glasses and then I put them on Amazon and that was enough to test now I was willing to blow that money To find out whether people would actually buy them or not so I was willing to take that risk So just to be clear as well I did spend more than five hundred dollars setting up Buying the inventory to sell that but the five hundred dollars that I mentioned before is setting up the business Is everything to do with like Setting up a website getting a design and all those are kind of intricacies. I just want to clarify that So Can you set up a business for under a thousand dollars? Yes, you can You might have to hire like an accountant or you know, there's things to do with like opening bank accounts Marketing websites go daddy Getting website domains all that kind of stuff is and so it will cost you it can cost you up to a thousand dollars But in the broad scope of things It's not much because that will end up as you hope Making me thousands hundreds of thousands of dollars maybe millions of dollars maybe in the future So I would encourage you to check out that book. It's called how to set up your business for under $1,000 you can go to the website buy this book comm if you do reach out to Dan or brand and tell them that you saw My review of their book here either on YouTube if you're watching on YouTube or on the podcast if you're listening in And Yeah, go ahead and grab that book Hey, I'm James swanick. 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