To Start, here's some generic tips
Starting your own brand can be an exciting and rewarding experience, but it can also be overwhelming. Here are some first steps to take when thinking about starting your own brand:
- Define your brand's mission and values: What do you want your brand to represent and stand for. This will serve as the foundation for all of your branding decisions. for example, Humble Hive creative is not just my own creative outlet for making my own creations, but I also wanted it to act as a conduit for all of my family's brands.
- Choose a brand name and create a logo: Choose a name that accurately represents your brand and reflects what you want it to represent at a first glance. Create a logo that is simple, memorable, and easily recognizable. I stuck with a hive because of not only its symbolism and its representation as a central hub, but also a tie to Bees which is the core of my creative branding.
- Register your brand: Choose a business structure and register your brand with the appropriate government agencies. Which I'll create an article for below.
- Create a website: Create a website that accurately reflects your brand and serves as a hub for all of your marketing and customer engagement activities. Doesn't even need to look professional. As long as it serves its purpose, people who are attracted to your brand will go to it. The most important part is that the website serves its purpose, be it commerce, informational, or representational.
- Start building your brand's presence online: Use social media and other digital marketing platforms to build awareness and engagement with your target audience. Easiest platform to start on is typically Instagram, however some people love getting their info from TikTok for some reason so if that's your most effective weapon, slay.
Remember, starting your own brand takes time, effort, and patience, but super worth it if it's something you love and are willing to put effort and time into it.
Registering a Business... Its worth it.
There are several benefits to registering your business, including:
- Legal protection: By registering your business, you create a separate legal entity that is distinct from you as an individual. This protects your personal assets from being seized to pay off business debts or obligations.
- Improved credibility: Registering your business and obtaining the necessary licenses and permits gives your business credibility in the eyes of customers, suppliers, and investors.
- Access to funding: Registering your business makes it easier to obtain funding from banks, investors, and other sources, as lenders and investors are often more comfortable working with registered businesses.
- Tax benefits: Registering your business may make you eligible for certain tax benefits and deductions, such as deductions for business expenses.
- Legal compliance: Registering your business ensures that you are in compliance with the legal requirements and regulations in your industry and location.
- Ability to hire employees: If you want to hire employees, you will need to register your business and obtain the necessary licenses and permits.
By registering your business, you can lay the foundation for a successful and sustainable operation, and help protect yourself and your assets in the process.
What Type of Business should you Register as?
The type of business you should register as depends on several factors, including the size and nature of your business, your personal liability preference, and the tax implications. Here are some of the most common business structures:
- Sole Proprietorship: A sole proprietorship is the simplest form of business structure, and is owned and operated by one person. It is easy to set up and does not require formal registration, but the owner is personally liable for all debts and obligations of the business.
- Partnership: A partnership is a business owned and operated by two or more individuals, and is easy to set up. The partners share the profits and losses of the business, and each partner is personally liable for all debts and obligations of the business.
- Limited Liability Company (LLC): An LLC is a business structure that combines the liability protection of a corporation with the tax benefits of a partnership or sole proprietorship. It is a separate legal entity from its owners, who are referred to as members, and the members are not personally liable for the debts and obligations of the business.
- Corporation: A corporation is a separate legal entity from its owners, who are referred to as shareholders. The shareholders are not personally liable for the debts and obligations of the business, but the structure can be more complex and expensive to set up and maintain than other structures.
It is important to consider your personal goals, financial situation, and the nature of your business before choosing a business structure. It is recommended that you consult with an attorney or accountant to determine the best option for your specific needs.