Iowa Business Startup Guides
Start a Business in Washington, Iowa
Are you starting a business in Washington, Iowa? This article discusses the most important things to consider when opening a business in Washington.
Choosing the Right Company to Start
Choosing a business that is right for you is very important. To help you decide on a business type, we encourage you to read Free Business Ideas.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Chrome Business guide or our Starting a Concrete Coatings Business guide.
Don't forget that starting a business in Washington has some implications. Think about what needs are currently being underserved in Washington. Don't forget to review Washington demographics to see if there's a market for what you want to sell.
Washington, Iowa Demographic Information
Washington has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Washington demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Washington.
Businesses
As a new Washington entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Washington 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 Business
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.
Numerous company naming issues are discussed in more detail in this article: Branding Advice.
On a final note, given that you are starting a business in Washington, it's very important that you make sure no other Iowa company is using the business name you want to use.
Forming a Company in Washington, Iowa
It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Iowa, you don't necessarily have to incorporate in Iowa. In fact, you can incorporate wherever you want. 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as ESOP Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Washington, Iowa, our information on Incorporating in Iowa may be a useful resource if you decide to incorporate in Iowa.
Don't Skip the Business Plan
A business plan is vital in maximizing the prospects of your new company. Simply put, your business plan is your game plan for how you hope to grow your business. Not having a business plan is a recipe for disaster.
Before you start writing a business plan, we suggest you skim Reasons to Write a Business Plan. You can also get free counseling sessions provided by your local SCORE chapter in Iowa.
The Art of Selling
Being able to sell is fundamental to your business success. Whether you are focused on selling local customers in Washington or are selling to customers throughout Iowa, the United States or even the world, you have to be able to sell.
The key to selling is to set sales goals goals and monitor your progress towards those goals. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Tips on Customer Referrals is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
How to Improve Your Entrepreneurial Abilities
The best business owners recognize that they don't know everything.
As an entrepreneur who lives in Washington, Iowa, you will want to take advantage of the many programs available at nearby Iowa universities, colleges and community colleges. It's also beneficial to see if there are any Washington networking organizations.
Moving Forward
You have a dream -- starting a business in Washington. To achieve your dream, you have to persevere, even when the odds are against you.
If you choose the right business and love what you do, you will greatly increase your odds of success.
Our goal here is to promote the vitality and growth of small businesses in Washington and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Washington, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Washington, Iowa
Here are more links that we believe will help you be successful in starting a business in Washington.
- Resources for Washington, Iowa Entrepreneurs - Browse a variety of resources we've collected to assist Washington entrepreneurs.
- Iowa Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Iowa.
- Iowa Small Business Development Center - The Iowa SBDC conducts research, counsels, and trains business people in management, financing, and operating small businesses. They provide comprehensive information services and access to experts in a variety of fields. This is a great resource for Iowa entrepreneurs!
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