Between March 2019 and March 2020, 69,430 small businesses opened in Texas and 60,952 small businesses closed. This statistic demonstrates the difficulty of successfully operating a small business. Starting a business is a daunting task and anything which can make success even a little bit easier is always welcome. That is why this article will outline several steps which any business can undertake to ensure the best possible start it can have.
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How To Ensure The Best Possible Start For a Small Business In Texas
Starting a small business in Texas can be a daunting task, but with the right planning and execution, it can be a successful endeavor. Here are a few tips to ensure the best possible start for your small business in Texas.
Pick A Business Name
While this may seem like a small and superfluous task, it is actually very important for the success of your business. A good business name will set your business apart from the competition. Your business’s name will also be the foundation of your business’s brand which is extremely important in the current business environment. Good branding can be the difference between success and failure and it all starts with a name.
Incorporate An LLC
One of the best ways to establish any business is to incorporate an LLC. An LLC is a limited liability company. This is a business entity that provides limited liability protection to the business owner. This means that if the business goes into debt or goes bankrupt, creditors cannot expropriate the assets of the business owner. Similarly, if the business owner goes bankrupt in a personal capacity creditors cannot expropriate business assets. To get a head start on LLC formation in Texas consult this website for help.
Request An EIN
An EIN is an employee identification number and it functions like a social security number for a business. This is required to open a business bank account which is highly recommended. It is also the first step in the process of developing business credit. An EIN will also be useful for tax purposes. As it is necessary when filing tax withholdings for employees as well as filing for other forms of tax.
Ensure You Have The Correct Licenses And Permits
This will not necessarily apply to every small business as Texas does not require any general business licenses. However, depending on the type of business which you are operating. The state may require you to acquire a license or a permit to operate. These usually have a small administrative fee attached to them. In the case that you do require a permit or a license, it is mandatory to acquire them in order to operate legally.
Make Sure You Meet The Business Employer Requirements
These requirements will vary from business to business and will also depend upon whether your company has employees or not. It is recommended to consult a business lawyer if you are unsure about which state requirements you need to meet as this varies based on your business. You may be required or highly recommended to take out certain forms of business insurance including general liability insurance, workers compensation insurance, and business property insurance. These forms of insurance can protect you from lawsuits as well as unforeseen events which could compromise your business.
Get A Business Bank Account
This is the best way to separate your personal finances from your business finances. As previously mentioned it is also the first step toward building business credit which is incredibly valuable for your business. You can also use your business bank account to start a business credit card which you can use for your business expenses as well as for developing your business’s credit score.
Starting A Small Business in Texas
When it comes to starting a small business in Texas, there are a few things you need to do to ensure the best possible start. First, you need to choose the right business structure. This will determine the legal and tax liability of your business. There are four main business structures in Texas: sole proprietorship, partnership, limited liability company (LLC), and corporation.
Sole proprietorships are the simplest and most common business structure in Texas. They are owned and operated by one person. The owner is personally liable for all debts and obligations of the business.
Partnerships are similar to sole proprietorships, but there are two or more owners. Each owner is liable for their own debts and obligations, but they share liability for the debts and obligations of the partnership as a whole.
LLCs are similar to partnerships, but they offer limited liability protection to their owners. This means that the owners are not personally liable for the debts and obligations of the LLC.
Corporations are the most complex business structure. They offer the limited liability protection of an LLC, but they also have a board of directors and shareholders. The board of directors is responsible for the overall management of the corporation. The shareholders elect the board of directors.
Once you have decided on the right business structure, you need to obtain the necessary licenses and permits. The type of business you are starting will determine the licenses and permits you need.
You also need to have a business plan. This document will outline your business goals, strategies, and financial projections. It is important to have a business plan because it will help you secure financing and investors.
After you have chosen the right business structure and obtained the necessary licenses and permits, you need to find the perfect location for your business. The location of your business should be based on the type of business you are starting. For example, if you are starting a retail business, you will want to choose a location that has high foot traffic. If you are starting a manufacturing business, you will want to choose a location that is near your suppliers.
Once you have found the perfect location for your business, you need to build a strong marketing plan. This plan should include a website, social media, and traditional marketing techniques.
The last thing you need to do to ensure the best possible start for your small business in Texas is to create a strong customer base. You can do this by offering a great product or service, providing excellent customer service, and building a strong reputation.
Final Thoughts
Included in this article are many valuable pieces of advice on how to best start a small business in Texas. While every business is different there are also certain commonalities that every business shares and this advice can help your business succeed. An LLC, good business credit, and compliance with state laws will aid your business tremendously and put your business on the path to success.
Though we live in the digital age, don’t assume traditional marketing is dead. Granted, certain traditional methods are declining, but many others are thriving and helping small businesses build their brands. Here are some important forgotten marketing methods that you should not overlook.
The first step to any impactful marketing strategy is to zero in on your target audience, which you can do by conducting market research and asking consumers how they heard about your company. Know your audience, invest in good branding, and choose your marketing methods, and you will have the essentials for creating a stellar marketing campaign!
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Forgotten Marketing Methods That You Shouldn’t Overlook
Below, The DFW Veterans Chamber of Commerce covers some of the forgotten marketing methods that can help your company flourish. Some of them can prove effective on their own, while others pair nicely with digital methods.
Direct Mail
Not too long ago, more and more people were frowning upon direct mail and tossing it immediately in the trash. But the creativity, personalization, and targeting capabilities have caused direct mail to make a comeback.
For many consumers, direct mail is easier to understand than online materials, and it is an excellent way to elicit brand recall and faster consumer response while allowing you to target your key demographics.
Flyers and Brochures
If you are offering special discounts and offers to your customers, flyers, and brochures are still the most effective methods to use. Similar to handing out business cards in person, giving out flyers and brochures to people is a more connective and interactive way of promoting your brand than directing people to your website or social media pages. If you run a brick-and-mortar establishment, using these materials can prove especially beneficial.
Signage and Billboards
Signage is thriving in the marketing world. These days, you can see impactful images on shop-fronts, malls, and buildings.
And the same goes with billboards. If you want to get your brand in front of commuters, investing in a highway billboard will do the trick. As with all the other methods in this list, you can even direct your consumers to your website to increase traffic when using signage and billboards.
Human Interaction
Nothing is more powerful than employing human interaction in your marketing strategy. At the end of the day, people are used to traditional marketing like face-to-face interaction.
Whether you are speaking with someone in person or they see your company’s signage, flyers, or billboard, the experience will evoke a sensation and a lasting memory. Think of ways you can meet new people and provide tangible connections to your brand.
Giveaways
Customers love freebies, and giveaways for everything from store swag to contests can make a dent in your marketing efforts. Stock up on stickers, notepads, pens, totes and tumblers, and hand them out when customers spend a certain amount.
Drawings are another great way to generate interest. Consider offering a pair of tickets to watch the Houston Astros play the beloved Texas Rangers. With sites like TickPick, you can get affordable seats. You can also offer tickets to a play, concert or dinner
Networking
One of the most practical ways to increase the number of human interactions is to attend networking events. Persuasive copy on printed materials can go a long way in growing your customer base, but if you really want to generate buzz around your business, look to event marketing. Along with adding clients to your resume, networking will present opportunities to attract top talent and meet potential business partners.
Marketing Tools
The market is full of affordable tools to help you create impactful, traditional marketing materials. Look to design tools for creating a unique logo and laying out your colors and typography. Invest in a quality printer for developing your own flyers and brochures.
Don’t assume that traditional marketing cannot move your company forward, or you could miss out on valuable opportunities. Consider the methods above as you make a plan for implementing traditional marketing for your brand. And always keep an eye out for other ways that small businesses are getting their message out to their target audiences!
Learning SEO is a great way to drive more traffic to your site. However, many people shy away from SEO as it often seems complicated. Lucky for you, you’ve found the right post. Here you will learn everything you need to about SEO in an ultimate step by step guide to SEO to help you progress from a novice to a pro.
Let’s begin, shall we?
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Step-by-Step Guide to SEO
Before we can even start understanding how to use SEO, it is crucial that you first learn what SEO really is. SEO is all about making your site more visible on search engines. Some of the activities involved in SEO include optimizing content, technical planning, and conducting marketing strategies. With that information in mind, you are able to progress in your SEO journey. There is no magic formula and it’s all about becoming good at high-impact activities and that direct the most traffic.
How To Start SEO
To start with SEO, you should first understand what it is. Then, you should figure out what keywords your potential customers are searching for. After that, you should learn how to use them in your content.
For many stay-at-home moms, the idea of starting a business seems like a perfect fit. It allows you to generate income while maintaining flexibility, ensuring you can be there for your children. Keep reading if you want to know proven tips and tricks for stay-at-home moms.
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Tips and Tricks for Stay-at-Home Moms To Launch a Business
While launching a company can be a challenge, choosing the right strategy helps. If you aren’t sure how to get the ball rolling, here are some tips and tricks for stay-at-home moms that want to launch a business.
Choosing the Right Business Model
One of the first steps you’ll need to take as a mompreneur is choosing a business model. The structure you go with matters significantly. While setting up a sole proprietorship is usually the easiest way to begin, it isn’t always ideal.
When you prepare to launch, consider forming an LLC to reduce liability, capture tax advantages, maintain flexibility, and reduce paperwork. After reviewing regulations in your state – as they do vary by location – you can avoid hefty lawyer fees by either filing on your own or using a formation service like ZenBusiness.
Balancing Your Business and Childcare Responsibilities
Working at home with kids isn’t always easy. Since you need to balance your business with your childcare responsibilities, using the right approach is essential. If your child is younger, you may be able to set up a place space near your workstation. For example, a playpen near a desk can let you engage with your child between completing work tasks. You could use a similar approach with school-aged children. Place their homework area close to your workspace. That way, you can be together while you each focus on your tasks.
For detail-oriented work, you may need to make arrangements with your spouse or an older child. Ask that they keep an eye on your younger children while you work for a short period, preferably from a home office that can limit distractions. You could also wait until any kids that need more attention are put to bed for the night. While it could mean handling business responsibilities in the evenings or at night, it ensures you can work peacefully while your children receive the care they need.
If your present home is unable to accommodate the space requirements for both work and family, it may be high time to consider a new home. You will find that renting in Fort Worth is fairly straightforward with reasonable rental rates and large inventory. Take a moment to assess your needs (e.g., number of rooms, neighborhood, etc.) and start your search with them in mind, but do be prepared to make compromises, as well.
Make Use of Free Online Tools and Resources
During the early days of your business, finding ways to reduce costs is essential. By taking advantage of free online tools and resources, you can get great solutions at the perfect price.
Exactly what you’ll need can depend on your business type and goals. If you aren’t sure where to begin, here is a quick list of some options that cover a variety of categories:
Also, don’t overlook the Adobe PDF to Word converter. It’s an easy way to adjust your files, making it an asset. Finally, take steps to establish your business’s online presence. Find out how Blu Dragonfly can assist you.
Plan for the Future
As you get your business moving, you want to remain forward-focused. Along with pursuing your primary goals, you need to consider which skills might serve you well down the line. Then, make a plan to acquire them.
For example, consider setting yourself up for long-term success by heading back to school to get an advanced degree. Online MBA programs give you enough flexibility to maintain a school-work-life balance while honing your skills in areas like strategic planning, corporate finance, marketing, and human capital management, making it potentially an excellent fit.
You may also want to join local small business organizations. Along with creating networking opportunities, you’ll likely receive guidance from seasoned entrepreneurs that can help you excel. Many organizations host skill-building workshops, ensuring you can learn what you need to know to make your company a success.
The pandemic has been hard on everyone, but women have been disproportionately impacted. here is how women are battling the pandemic. Those who are out of work or stay-at-home moms may be looking for an opportunity to earn an income in an online capacity. Fortunately, there are a number of opportunities available. If launching your own business is part of the plan, Blu Dragonfly is the go-to resource for creating a memorable brand that helps you grow your business.
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How Women Are Battling The Pandemic
Women are on the frontlines of the battle against the pandemic, as they are the ones who are most often the caregivers and the ones who are most likely to be the ones who are infected. They are also the ones who are most likely to suffer from the economic repercussions of the pandemic.
Do What You Know
Many professional women find consulting work is easy to do on a virtual basis. For example, whether you’re an accountant, a customer service representative, a personal coach, or a marketing guru, these are jobs you can often do from the comfort of your own home. Reach out to your existing networks and start making connections via places like LinkedIn, your local chambers of commerce, or Rotary clubs. Let previous colleagues and supervisors know you’re in the market for this type of work and ask for referrals.
Remote Work Opportunities
Many companies have found that a physical space is not necessary in an increasingly online world. As such, many employment job boards offer a variety of remote work options. According to CNBC, while all jobs can’t be done this way, there are many that can. Freelance writing, public relations, tutoring, and even some types of healthcare can be done on a remote basis. If you look for these types of roles, make sure you understand if you’re working as a freelancer or independent contractor, or if you will, in fact, be a full-time employee of the company.
Monetize A Hobby
If you’re an artistic or creative person, there are a number of opportunities to sell your work online. Painters, jewelry makers, clothing designers, and high-level crafters can create a viable income selling on sites like Etsy and Artfire. You can do custom orders, have a storefront where people buy your finished goods, or even put items up for bid on a site like eBay. According to Gathering Dreams, while so much in the world is mass-produced, many people appreciate bespoke one-of-a-kind items, and you may be able to charge top dollar.
Start A Business
After working in an online world, you may find you’re interested in pursuing your own small business opportunity. Once you get your business established, up and running, marketing it will be important to help you stand out. If you’re adding images to your company’s marketing materials or you’re working with a website creator or graphic designer. You may need to compress JPEG files to make them easier to mail. Sometimes this reduces the quality of your images. So consider a tool that allows you to convert JPG to PDF. You can add multiple JPEGs to a PDF so you don’t have to email numerous images.
Implement Self Care Measures
Women are often expected to “do it all,” and the pandemic has been no exception. Whether you’re working in an office or running a small business from home, build in time for self-care. Set regular start and stop times for work, meal prep so you can eat healthier, and schedule regular time for exercise so you can sleep better. And do something every day just for you. Whether that’s a 15-minute meditation, a cup of exceptional coffee, or lunch with friends, allocate “you” time to recharge and revive.
While the pandemic has been difficult for many people, women, in particular, seem to have shouldered the biggest burdens. From teaching kids at home to household responsibilities and work. Women are wise to position themselves with numerous viable earning streams. Online could be the way to go.
In conclusion, Blu Dragonfly is a digital creative agency in the Dallas Ft. Worth area that builds brands for business owners looking to take their businesses to the next level. Visit the site to learn more or reach out for a consultation.
Understanding the psychology behind which customers make buying decisions can give you a great edge over your competition. You can then use consumer psychology to promote your brand and increase conversions. Keep reading if you want to grow your business through psychological strategies for effective marketing.
By knowing what goes through the mind of customers through different buying stages, you can anticipate their behaviour and provide them with what they need. This in turn can go a long way towards building your brand and securing loyal customers.
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Psychological Strategies for Effective Marketing
Let’s take a closer look at 6 psychological strategies to boost your sales.
The Likelihood Of Impulse Purchases
We have all been there where we’ve convinced ourselves that there will be no more unplanned spending only to see something that we liked and completely neglected our resolutions. We went ahead and bought that item.
Businesses can take advantage of the obsessive-compulsive behavior in humans to increase sales by promoting impulse buying.
For instance, one clever way you do this is to use the word “now” in your advertisement. This creates urgency in the minds of the potential customers and causes them to think that if they do not act now they will miss out on any deals.
Asking For Small Requests
Keep in mind here that we are focusing on asking customers for a small request. The importance of this is that if customers agree to do something small for the business, they are more likely to agree to something else.
This is called the “foot in the door technique”.
By asking potential customers to sign up for a new trial, or for an email request, they are more likely to agree to a larger request such as making a purchase.
Look at it this way… instead of going from step 1 to step 10, you take the customer through the various small steps until they finally purchase your products.
And after all, there are 5 steps to making a purchase. These are recognition, information search, alternative evaluation, purchase, and post-purchase evaluation
Visually Stimulating Marketing
Naturally, our brains are better able to process video as compared to text. This is not surprising in this age of social media as research has shown that posts that include video are 650% times more likely to result in reader engagement than those that only have text.
Secondly, it is important to understand how the different colours affect the human psyche and ultimately buying decisions. Colours play a significant role in impulse decisions and purchases so including the right colours in your products can make all the difference.
Another way to use visually stimulating marketing is by the use of language. Savvy marketers will use words such as guaranteed, 100% original, certified, loyal and authentic in their ads. This immediately causes a sense of trust and can prompt choppers to make impulse decisions.
Evoke Emotions The Right Emotions For Your Customers
Humans react strongly to feelings such as joy, sadness, and excitement. The clever marketer can use this to their advantage by crafting ads that stimulate such strong emotions in favour of the business.
This can result in impulsive purchasing.
Secondly, self-esteem is important to everyone. By boosting people’s self-esteem, you can increase sales and promote impulse buying. For instance, marketers can help customers feel worthy and important. One easy way you can do this is to promote memberships and then offer privileges to members.
Conformity
Conformity is the act of following the norms of a group. This can be used to influence someone to do something they wouldn’t normally do, or to make them more likely to agree with your point of view.
Foot-in-the-door technique
The foot-in-the-door technique is a way of getting someone to agree to a small request, so that they are more likely to agree to a larger request. This can be used to get someone to agree to a meeting, or to sign a contract.
Door-in-the-face technique
The door-in-the-face technique is the opposite of the foot-in-the-door technique. This is where you make a large request, and then when the person says no, you make a smaller request. This can be used to get someone to agree to a meeting, or to sign a contract.
Reciprocity
Reciprocity is the act of giving something to someone, in order to get something in return. This can be used to influence someone to do something for you, or to agree with your point of view.
Social proof
Social proof is the idea that people are more likely to do something if they see other people doing it. This can be used to influence someone to buy a product or to agree with your point of view.
Authority
Authority is the idea that people are more likely to do something if they believe that the person telling them to do it is an expert. This can be used to influence someone to buy a product or to agree with your point of view.
Scarcity
Scarcity is the idea that people want something more if it is rare. This can be used to influence someone to buy a product or to agree with your point of view.
Benefits of Psychological Strategies In Marketing
There are many benefits of using psychological strategies in marketing. By understanding how people think and what motivates them, businesses can more effectively sell their products and services.
Some of the most important psychological principles in marketing include social proof, authority, and scarcity.
Social proof is the idea that people are more likely to do something if they see others doing it. This principle is often used in marketing campaigns, such as when a company uses testimonials from satisfied customers.
Authority is another important psychological principle. People tend to trust and obey those in positions of authority. This principle can be used in marketing by using endorsements from experts or by using language that conveys a sense of authority.
Scarcity is the idea that people value things that are rare or in short supply. This principle can be used in marketing by creating a sense of urgency or by offering limited-time discounts.
By using psychological principles in marketing, businesses can more effectively sell their products and services. By understanding how people think and what motivates them, businesses can create more effective marketing campaigns.
How Is Psychology Used In Advertising?
Psychology is used in advertising to influence the way people think, feel, and behave. Advertisers use psychological principles to target their messages to specific audiences and to influence the way people process and respond to information. By understanding how people think, feel, and behave, advertisers can more effectively persuade them to buy their products or services.
Final word
Marketing is all about understanding customer psychology and what drives them to make purchases. The savvy marketer can then use this information to trigger impulse buying. Done the right way, it can greatly increase sales and conversions and improve the bottom line.
