Sara Mayer | 2024-01-16

For this episode, we're going to go back in time and I'll share how I would have started my balloon business knowing what I know now. After about 8 years in business, I've seen how I've gotten lucky, what I've screwed up and where I overthought. And while I don't think there's any one "right" way to start a business, I do think the order in which I'm going to go through things is probably the easiest.

First, I would think about my business name and search high and low to make sure it's:

• available on all the platforms I plan to use
• different from all company names in my immediate area
• spelled correctly
• includes the actual word "balloon" or "balloons"

Secondly, I'd start with a free email account so that it's ready for you to use as you get your domain, your social media profiles, etc.

Next, create some content! Set up your own photo shoots right in your home and you can easily get a couple of dozen photos from just a couple of setups. After doing this, you'll be able to get to your next step - marketing!

Get your Instagram and Facebook profiles set up. I like these because they're visual platforms (important for our industry), and they're free.

Next would be creating a free Google Form so that people can contact you. Link to this form in your social media to serve as your "website" until you get to that point.

By now, you're off to a great start with a name, visuals of your work and a way for people to contact you. Here's where the hard work comes! Get networking, take pictures, practice your craft and do everything you can to spread the word about your business. The truth is that customers will not find you - you have to find them. And don't work for free! This can cause a ripple effect of negative consequences that aren't always obvious at first.

After you've been hard at work spreading the word about your business, you'll get to a point where a community of like-minded business owners is a huge help. Seek out groups and education that keep you motivated to grow and give you shortcuts to that growth. Looking back, I now see that this was something I didn't do soon enough and it caused me to buy poor products and spend money I didn't have to spend. And on the flip side of that, I've met some of my best friends thanks to industry events! These people will know exactly what you’re going through as you experience the ups and downs of owning a business.

The next thing to implement in your business journey is a website. I know some people do without, but I'm a big believer that your website can do some of your sales for you. Plus, I think customers expect you to have one, so when you do, you increase your professionalism.

Some may argue this next step should come towards the beginning, but I think that establishing your business as an LLC and getting insurance fits next. By now, you've been in the industry long enough to know you're going to stick it out and have likely had jobs at venues that require insurance. Then the business registration is a huge milestone because you're telling yourself that you believe in your business.

Next would be setting up your business finances - something you can’t do without being a registered business! I mixed my personal and business expenses together for far too long which made things confusing at tax time and even more confusing when I tried to figure out if I was making any profit.

Speaking of profit, next, I'd encourage you to set some long-term goals. Getting a van is a major milestone purchase that can really benefit your business, but it requires saving and planning. While you're getting your business checking account, consider a savings account to work towards this goal as well.

So there you have it! The basic building blocks for a very solid business foundation if you're starting from scratch or are fairly new. I hope this episode has helped you learn what to focus on, and what things can wait.

And in the UGlu Hotline, we get some ideas for warming up your UGlus so that they can properly stick in the cold!

RESOURCES MENTIONED:

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Ep. 162 - Protecting yourself and your business | Erin from Country Financial 

Ep. 90 - One year after two big changes 

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