Starting an online business is an exciting adventure. Still, it can become overwhelming when you don’t know what you need to get started. Whether you’re venturing into e-commerce, offering services, building a blog, or paid newsletter, the success of your business depends on having the right essentials in place from the start. With the online landscape becoming increasingly competitive by the day, you need to equip yourself with the tools and strategies to get your business off the ground and help it thrive in the long term.
In this guide, we’ll walk through the essentials for your new business, ensuring you are equipped in this new space.
Business Foundation Tools
No matter the type of business you are starting, there are some non-negotiables that every business needs. Once you have your business name, you want to:
Establish your Legal status
Research your state to learn the structures in which you can establish your business. When starting, you may think setting a legal structure for your business is unnecessary, but you will find yourself playing catch-up later, so it’s best to put a plan together for your business first. Here are the different types of established options:
Sole Proprietorship
This is the easiest option but not the most protective; you and your business are legally the same and have all the liability.
Limited Liability Company (LLC)
Offers flexibility and protection by separating personal and business assets. Allows you to receive an EIN from the IRS for use with your company.
Partnership
This route is ideal for businesses with multiple owners sharing profits and responsibilities.
Corporation/ Scorp
This provides the most legal protection but requires more formalities.
Non-Profit
This is for organizations focused on charitable or educational purposes with tax exemptions.
Purchase your Domain
This is the address of your business, and it is where potential visitors will type your business name into their browser address bar.
Domains that match your brand very closely are essential; if your business name differs completely from yours, you will miss out on traffic. It is human nature to search for a brand name and expect the one you’re looking for to have a prominent online presence that’s easily identifiable.
When crafting a domain for your business:
- Keep it short and straightforward. If it irritates you to type it in every day, then how do you think your visitors feel
- Do a quick search for your name on Google. Is it over-saturated with the exact name? If so, consider making some changes instead of fighting against established businesses that your visitors could find instead of yours.
Name.com offers a wide range of domain services ideal for small businesses. They provide a user-friendly domain search that includes all available ends (.com/.academy/.org) and protect your information with private registration. Along with a long list of unique domain extensions, they provide additional tools like Google Workspace integration, Titan Email, website hosting with Wix, and SSL certificates.
They provide very transparent pricing, excellent customer support, and a secure platform, making it a one-stop solution for getting your business online.
Business E-mail Account
A business email account is essential for building trust with potential customers. A professional email service allows you to create custom domain email addresses for your business that potential customers can trust to communicate with.
Based on your business type, you may need essential email management, where you only send emails about invoices, cold outreach, and document attachments. We recommend Titan email.
If you require file storage, recorded meeting software, and forms, we recommend Google Workspace.
Both have a free trial that you can use to try them out before purchasing a subscription.
Titan Email
Titan email is a powerful service designed to enhance customer communication and productivity. Some features include email templates, scheduled send options, and read receipts to track email engagement. Users can set follow-up reminders, use a rich message editor to create formatted emails, and manage conversations with email threads.
With each subscription, you receive shareable calendar management with cross-platform invites and appointment management.
Here are the pricing plans as of 10/2024:
Google Workspace
Google Workspace is a suite of tools created by Google. It includes:
- Gmail for business email
- Google Drive for storage
- Google Meet for video conferencing
- Google Calendar for scheduling and calendar management
- Google Docs, Sheets, and Slides for collaboration editing
- Google Chat for team communication
- Google Forms as a Typeform alternative
They have extensive security and admin controls for remote and in-office teams. Each plan comes with a set amount of storage, a custom business email, increased meetings with recording, increased participants, and security settings.
Here are the pricing plans as of 10/2024:
No matter which option you choose, ensure it is affordable and takes care of your needs. You can also change providers in the future and import your past emails into most platforms.
Secure your Social Handles
Once you have your domain, you want to search to ensure your social handles are available. A popular tool is Namechk, which does a good job of checking active profiles that match the name you input.
It is good practice to double-check when you create your profiles to ensure it’s available. You want to keep the same username across socials so your audience knows it’s you and it’s easy to share. After completing the quick name search, you want to dedicate the time to creating your new profiles and securing your name while launching your new business. Secure them even if you are unsure that you want to use them; this ensures you have them if and when you need them.
Business Phone Service
OpenPhone
OpenPhone is a virtual phone service designed for teams and individuals. It offers features like call forwarding, voicemail transcription, and support for multiple phone numbers on one device, making it easy to manage all business communications. You can receive phone calls, text messages, and image messages in one inbox through contact management.
With browser access and a mobile/tablet app available, you can access OpenPhone from various points, allowing flexibility and accessibility. With integrations to tools like Slack and Hubspot, OpenPhone streamlines lead and client communications with your favorite tools.
With no equipment purchases, it’s an ideal option for startups and small businesses looking for a professional phone solution.
Google Business Profile
Google Business profile is essential to businesses, especially local ones. Google provides tools for companies to improve their online presence and connect easily with customers when searching for what they need.
You can use your Google Business profile to manage your profile on Google Search and Maps and Google Ads for targeted paid ads to increase your profile in search results. With a profile, you can access customer insights, review management, and location-based marketing tools, increasing your visibility and credibility and engaging with potential clients without leaving the search window.
Business Bank Account
Found Banking
If you are in business to make money, all business management tools will ask you for a bank account when setting up payments. Some tools have built-in banking, but you need to have a bank where you can easily deposit cash, checks, and direct deposits. Found is an all-in-one banking solution tailored specifically for small business owners. It offers a range of features, including automated bookkeeping, contractor payments, and real-time tax tracking to simplify financial management. They have no minimum deposits or hidden fees, allowing you to get started without a huge deposit, which sometimes isn’t ideal with new business owners.
Payment options
With your account, you can deposit cash, upload checks, get paid direct deposits two days early, and send invoices from the app.
CashBack Offers
Select purchases will also give you cashback through exclusive offers using your debit card.
Expense and Taxes
Found gives you built-in expense tracking and tax tools to make that time of year easier. You can categorize purchases and other expenses, upload receipts, and generate business reports for easy input.
You can automatically save for taxes by setting aside a designated amount each time a deposit is added to your account, making it easy to pay quarterly and yearly taxes for your business. They also automatically generate a Schedule C form for tax time.
If you have an accountant, Found has built-in access for you to share important information, allowing them to manage transactions, review your financial reports, and access tax documents.
Invoicing
Send professional and branded invoices easily from your bank for free. You can accept card and bank transfers for your invoices and even see when your clients have viewed and paid.
Manage and Pay your Contractors
We love a multi-use tool, and your bank account should do more than accept deposits. Found provides its users with no per-contractor fees, unlimited and instant payments, and W-9 management.
Its seamless integration of taxes, invoicing, expenses, and payroll services makes it an excellent tool for managing your business’s cash flow.
Starting an online business requires careful planning and the tools to ensure success. Each step lays the groundwork for long-term growth, from securing a domain and professional email to setting up your legal structures and financial management. Utilizing business essentials like Titan email, OpenPhone, and Found helps streamline operations and maintain professionalism. With these foundational tools, you’ll be able to scale your business in the future without many growing pains, as every tool can grow with you.