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[Music] [Music] hello everyone this is antonio with team tigio and it's that first of the year that time where you have set your new year's resolutions and now you're thinking and you're figuring out uh i want to start a business but how do i establish my business and what steps should i take while i go about establishing this business because when you establish a business you want your business to be around long term you don't imagine that you may have to shut down that business if you don't do everything the right way so in this video i want to go in depth and discuss eight steps of starting your own business and the things that i will encourage when you are going forth with your business number one and that's why i'm on this google screen and i take you step by step on uh ideas that i have for you back you want to first thing you want to do is you want to search for a business name to see if that business name is available i know you may had a dream and you woke up and this and in your mind this business is for me but this step the first step can cause be costly for you first of all you got a business and you got to name that business this is like a child to you because until your business become an adult and you're able to raise your business on your own on its own rather you are in the phase of infancy with this business so the first thing i would do is pick a business name and for right now i'm gonna use a fictional business name that i'm gonna use and that business name goes by the name of tiger dove and let's see if this name is available all right so let's go to tigerdove.com and let's see if this name is available all right so off top on the right of this page where my mouse is circling you don't see any business established under this name so you may be inching closer to having a business with the name of tigerdub now what i recommend that you do is to search the trade uh the trade uh the trade the patent and trade website also i encourage that you search the domain name because all to all too often when you're branding the business and you do not search uh to see if the domain name is available because it's important you don't want to establish a business called turtle though but then you got to have the business name to be dove turtle that that's not practical because you want your business to match like you putting together your best outfit you want your best outfit to match so the business name has to be established uh so what i would encourage is go to a domain name i mean go to a website where you can search domain names and this is a godaddy affiliate domains price right and for my clients i often purchase all of their domain names on this platform don't ask me why but i've been doing this for eight years and when we're establishing business i just used this platform you know it's owned by godaddy it just doesn't have to go daddy so the first thing i want to do is search tiger dove and i want to do a search for that name [Music] all right so as you see the name tiger dove is taken so for me that's a red flag i wouldn't pick tiger that's dumb i because i'm in the infancy stage of my business i probably will go and uh pick a different name but before we pick a different name let me show you how costly it would be for picking the name tiger dove because you had this dream and the dream of your company is tiger though and just say if you got a five thousand budget five dollar budget to start this business and you see when i searched the name tigerdub and this page is bouncing in the tigerdub.com is uh is auctioned off right now at 2 895 that means that if you're a dead set or having the name tiger dub and you got a 5 000 budget you're gonna be out of roughly three thousand dollars before you even get started with the business and you still got to uh do different things in the business that's going to be costly so you already out of the game now let's go back and because now we got to revamp the name of our business and for you that may be costly but before you do your logo design and all of this stuff make sure that your business name is available because the business name has to match and that's why i said that is costly for a person who want to start a business so if it was me i would have to go revamp the name and let's see if we can do this so i'm just going to pick another fictitional name and call the name well dove and let's just see if it's about now i revamped the name of the business the name of the business is welldub.com it's available it's going to cost you 13 for the first year and then you see why is it so great well is a high value keyword that has an average sale price of 2 000 three uh two thousand three dollars well dub is easy to remember includes basic privacy protection so that means that for me because i'm a businessman i might just purchase the name well dove and just sit on the name and guess what if you want the name i could charge you two thousand dollars for that name that's just something that i would just want you to figure out before you do all of these steps so now you just search the patented trademark website you don't search the domain name and you see that the name well dove is available let's go to our second step and the second step is because we located in georgia you would want to register that name with the state because now you are establishing that you're going to have well done as an official business so the next thing i would do is i will go down before i register my name i will do a business search in the state of georgia and i would want to see is anyone doing business as well doug because all too often people do business but guess what they don't do business [Music] i mean they don't set up a website for that business because a lot of people operate just month-to-month basis and there's no longevity for no longer being having long goals for the business so let's do a search and see if anyone doing the name well done for business and as you see no data found so what i would do is register this business name online i know the price is different per state but in the state of georgia this is going to cost you about a hundred dollars to form your escort c court llc or dba which is doing business ads so after this step and i know some people say that you don't have to do that you can set up a dba and that they have some effect in this to the business but i encourage that you set it up as an s corp c quarter llc all right so after that the next thing you want to do is establish and apply for an ein number or in other words a federal tax id that is very important this took me probably about 10 minutes to do max and it all depends if you set up a llc you set up a c chord sequel escort a partnership church organization trust you may need a federal tax id for that and after you establish that make sure you print off your ein page because you're going to need that for the next step don't skip that step once you establish your free ein tax id number make sure you print off that tax id page because if you don't you won't be able to finish the next step and that is to form a business bank account a business bank account is important for your business did you know that the government doesn't recognize your business if you don't have a business bank account now you can have a business you can be bringing in two hundred thousand dollars a year in that business you can have employees but if you do not have a business bank account then you do not have a business that's important and you don't you can take my word you can look it up you can read it it's important the business bank account is important and the next step after you establish the business bank account uh summer banks allow you to start as little as a hundred dollars in the bank uh the next step is to establish a website establishing a website is important for the final three phases because there will actually on each application that i would encourage do you have a website after you have your website built and like i said even if you're starting out with a three thousand dollar budget right now you're already out of thirteen dollars for the domain name a hundred dollars to register with the state a hundred dollars uh to open up that business account so you out of 213 now uh starting that business the website that's solely up to you out of three thousand dollar budget if that's what budget you have i would encourage you to have a website it can even be like a landing page just a website is important now next i would say get a virtual business address and if you don't have a a business upfront get a virtual business address or get you a business get you something that's pain you know you can use things like we work you can use things like virtual business address or get you a virtual phone number that you can use for the business because that's going to be important for the last two steps because now for the business you want to take this business out of being an infant and at least being a toddler and that is signing up with a duns number so having a dumb number is important because if you want to have business credit you're going to need a duns number to do that so now you've followed all those other steps a duds number going to ask you about your business account information because they're you know because having one of these is important if you want to uh get that business credit because you got to have something that's going to hold your feet to fire when you're paying these creditors as a business because some in some cases you can have business credit without using your personal credit so duns and bradstreet is what it means by having a done number so you'll go to dnb.com you'll establish your does number you can sign in time to time and it's free to have that duns number they do have a paid version but starting at the gate you can use the free version and finally after you do that you want to have and set up a nav account and basically a nav account is also in conjunction with guns because it helps you get your business credit cards it helps you get business loans so these steps are very important in the aspect of establishing that business taking your business from being an infant to basically a toddler and then now you it's time to build your uh uh to furnish your business uh get your team and get the profit these are the eight steps that i would and of course there's going to be other steps there's going to be hurdles you have to climb but these are the steps that i want to encourage you to do in the process of forming your business so congratulations you formed your business you followed all of my steps and now it's time to form that business and get your business with six figures and once again this is antonio team digio happy 2021 and see you on the other side of profit see you next time