Minnesota Business Startup Guides
Start a Business in Jordan, Minnesota
Are you starting a business in Jordan, Minnesota? This article discusses the most important things to consider when opening a business in Jordan.
Jordan, Minnesota Demographic Information
Jordan has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Jordan demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Jordan.
Businesses
As a new Jordan entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Jordan for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.
Businesses
Naming the Company
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.
For other considerations regarding naming a company, we recommend this article: Branding Advice.
As a final piece of advice, remember that because you are starting a business in Jordan, it's critical that you ensure that no other Minnesota company is using the business name you want to use.
Forming a Company in Jordan, Minnesota
It's very important that your business is formed as a legal entity that is separate from its owners. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating is a very common way to legally create a business entity. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Minnesota, you don't necessarily have to incorporate in Minnesota. As it turns out, you can incorporate in the state of your choosing. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. To learn the basics of company formation, browse articles on our site, such as Piercing the Corporate Veil. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Jordan, Minnesota, our information on Incorporating in Minnesota may be a useful resource if you decide to incorporate in Minnesota.
Don't Forget to Create a Business Plan
Having a business plan is essential in laying a solid foundation for your business success. In effect, your business plan is your game plan for how you hope to grow your business. Failure to write a business plan makes you more prone to becoming a business failure statistic.
Before you start writing a business plan, we suggest you skim Business Plan Contests. You should also take advantage of free counseling sessions provided by your local SCORE chapter in Minnesota.
Getting Money to Start a Business
Getting your Jordan business the capital it needs to succeed is a difficult chore. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
Take advantage of our many articles on raising money, such as Business Line of Credit.
For Jordan entrepreneurs in need of startup financing, we have assembled a List of Minnesota Angel Investors and our List of Minnesota Venture Capital Firms.
Bring in Revenues
Do you know how to sell? In order to attract customers to your new Jordan business, you need to focus on sales.
The key to selling is to set sales goals goals and monitor your progress towards those goals. Let us help you refine your selling techniques through our many useful sales advice tips.
Writing Great Proposals is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Next Steps
As an entrepreneur in Jordan, you won't be working for the boss anymore. You are the boss.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Jordan and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Jordan, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Jordan, Minnesota
Here are more links that we believe will help you be successful in starting a business in Jordan.
- Resources for Jordan, Minnesota Entrepreneurs - Browse a variety of resources we've collected to assist Jordan entrepreneurs.
- Minnesota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Minnesota.
- Minnesota Small Business Development Center - The Minnesota Small Business Development Centers provide no-cost, professional business consulting to Minnesota small businesses covering a variety of business needs.
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