How to Successfully Launch Your Own Health-Based Business
Whether your goal is to launch a yoga studio, an e-commerce business selling eco-friendly products, or open a health food store, starting your own business comes with a few challenges: you’ll need to set yourself apart from your competition and know how to market yourself while keeping an eye on your bottom line. Here, we’ll go over three essential tasks entrepreneurs need to tackle to run a successful health-based business:
Filing for a DBA and Choosing a Business Structure
A DBA, or “doing business as”, serves as the name your company operates under. Find a name for your company that is memorable and provides a good description of what you’re offering. Do an online search to make sure the name isn’t already in use, and “workshop it” with your friends and family to see if it’s a good fit for your business and if it will endure the test of time. If you decide on sole proprietorship for your business structure, a DBA lets you operate under a different name than your legal name. And if you have a limited liability company, or LLC, your DBA further establishes you and your business as separate entities. Establishing your company as a sole proprietorship or an LLC will give your business more credibility, and customers will be more willing to invest and trust in your brand.
Designing an Appealing Logo
If you’re just starting out, you don’t have to spend a fortune hiring a graphic designer to come up with an eye-catching logo for your health-based business. There are a few free online options that allow you to design your own. Simply choose a style and icon or symbol, add your text, and you’ll be able to see a few suggestions for your company logo. You can even adjust the font, color, layout, and spacing any way you like. Look for inspiration from other health-based businesses. See what kind of branding they are using to attract customers, and what symbols resonate with their clients and inspire trust in their company. Use a palette of calming blues and greens, colors associated with healing, if you’re selling products designed to heal and restore; conversely, use vibrant colors if your company is all about energizing and getting people more active.
Using the Right Accounting Software
Using the right software for accounting will help you manage your money more effectively while saving you time. You’ll be able to track your expenses and revenue on one platform and sync your accounts, which will save you many hours of administrative tasks like bookkeeping and taxes. You’ll have access to all your financial information in real-time, which will help you make more informed decisions regarding spending and investing. You’ll be able to connect your bank accounts and credit cards to your platform in order to avoid wasting time on data entry, and the invoicing process will be much faster and easier as well since everything is automated. Get a system that lets you accept online payments, making it easier for your customers to send you money. You’ll get paid quicker, and they’ll appreciate how easy it is to do business with your company.
Are you passionate about helping people be their best selves, and are you ready to turn that passion into a business? Set your health-based business up for success by creating brand awareness, and by delivering outstanding products or services to your customers. Use online tools designed for productivity, make it easy and enjoyable for clients to interact with your brand, and turn them into loyal followers.
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Guest article: Dana Brown <dana@healthconditions.info>