So, you're a freelancer who's ready to take the plunge and turn your freelance work into a small business in La Habra, CA. Congratulations! This is a huge step, and one that comes with a lot of important decisions. But don't worry, we're here to help. The La Habra Area Chamber of Commerce outlines some steps you should take to get your business started off on the right foot.

Creating a Business Plan

One of the most important steps you can take when starting a small business is creating a business plan. This document will outline your business goals, strategies, marketing plans, and financial projections. Having a solid business plan is essential for two reasons: first, as The Motley Fool notes, it will help you secure funding from investors or lenders; and second, it will keep you focused and on track as you grow your business.

Networking

Another important step to take when starting your own small business is to start networking. Up Journey points out that getting connected with other businesses in your industry can help you find new clients, learn about upcoming trends, and get advice from more experienced entrepreneurs. Attend industry events, join relevant trade organizations, or simply reach out to other businesses in your area—the opportunities for networking are endless.

Forming an S Corp or LLC

If you're starting a small business in the United States, one of the first things you'll need to do is choose the right legal structure for your company. One popular option for small businesses is setting up an S Corp in California. S corps offer many benefits, including limited liability protection and tax breaks. Plus, if you have shareholders, they can only be held liable for up to the amount they've invested in your company. 

When you start a business, there are several different legal structures you can choose from. Each has its own advantages and disadvantages, so it's important to select the one that's right for your situation. One option you may want to consider is starting an LLC in California. 

LLCs are relatively easy and inexpensive to set up, and they offer a number of benefits for small businesses. First, LLCs protect your personal assets from being seized in the event that your business is sued. Second, an LLC can help you to save on taxes by allowing you to deduct business expenses from your personal income. Finally, an LLC can give your business a more professional image and make it easier to attract investors. If you're starting a small business, an LLC may be the right choice for you.

Marketing Your Business

Once you've got your business up and running, it's time to start marketing it. There are many different ways to market a small business—from advertising and PR to social media and content marketing. Figure out what makes sense for your business and budget, then get started getting the word out about your company.

Returning to School

Running a successful small business takes a lot of hard work and dedication. If you're serious about making your business thrive, consider going back to school and earning your degree in entrepreneurship or another related field. Having a formal education will give you the skills and knowledge you need to make smart decisions for your business, helping you avoid common pitfalls and set yourself up for long-term success.

Starting a small business is a big decision—but it's one that comes with a lot of rewards. By taking the time to create a solid business plan, network with other businesses in your area, form an S corp for your company, and market your business effectively, you'll put yourself on the path to success. And if you're really serious about making your small business in La Habra thrive, don't forget to go back to school and earn that degree in entrepreneurship!

Join the La Habra Area Chamber of Commerce to network with other local entrepreneurs and access valuable resources for helping your business grow. Contact us today for more information! (562) 697-1704