NEW BUSINESS FLOW CHART

A guide to help you start up a new business

New Business Flowchart

INSPIRE Mayes County is dedicated to supporting local entrepreneurs and businesses at every stage of their journey. Our mission is to inspire, educate, and empower individuals and organizations to thrive in Mayes County's dynamic business environment.

1. Idea Generation: The journey begins with a great business idea. Identify your passion, skills, and market demand to pinpoint a business concept that excites you.

2. Market Research: Dive into market research to understand your target audience, competition, and industry trends. This critical step helps you refine your business concept and identify your niche.

3. Business Plan: Develop a comprehensive business plan that outlines your vision, mission, goals, and financial projections. A well-crafted plan is essential for attracting investors and guiding your business.

4. Legal Structure: Choose a legal structure for your business, such as sole proprietorship, LLC, or corporation. Each has its benefits and implications for taxation, liability, and ownership.

5. Register Your Business: Register your business with the appropriate authorities. This may include obtaining a Federal Employer Identification Number (EIN) and registering your business name with the state.

6. Permits and Licenses: Determine the permits and licenses required for your business type and location. Compliance with local, state, and federal regulations is essential.

7. Location and Setup: Secure a physical location for your business, if needed. Set up your workspace, purchase equipment, and establish your online presence, including a website and social media profiles.

8. Finances and Funding: Manage your finances by opening a business bank account, setting up accounting systems, and securing funding through loans, grants, or investors.

9. Branding and Marketing: Develop your brand identity, including a logo and marketing materials. Create a marketing strategy to reach your target audience and promote your business.

10. Hiring and Training: If you plan to hire employees, recruit and train them to ensure they align with your business vision and values.

11. Launch and Promotion: Launch your business with a grand opening or promotional event. Announce your presence to the community through advertising and social media.

12. Operations and Growth: Begin day-to-day operations, monitor financial performance, and continuously evaluate and adapt your business strategies for growth.

13. Networking and Community Engagement: Get involved in local business networks and engage with the Mayes County community. Building relationships can open doors to new opportunities.

14. Feedback and Adaptation: Collect feedback from customers and stakeholders to improve your products or services. Adapt to market changes and continuously innovate.

15. Success and Expansion: Celebrate your achievements and consider expansion opportunities as your business grows.

Join the Inspire Mayes County Business Community

Starting a new business in Mayes County is an exciting endeavor, and INSPIRE Mayes County is here to support you at every step. Our New Business Flow Chart provides a roadmap to help you navigate the process with confidence.

Join us in the vibrant Mayes County business community, where your entrepreneurial dreams can flourish, and your business can thrive.