Business Idea

The first step in starting a business in Nevada County is to either pick an established type of business that you would also like to do, or you will need to create a new type of business.

There are several possible options here:   You can buy a franchise, purchase and existing business, or come up with a new idea that will provide Nevada County with a needed product or service.  

Once you have decided on the type of business you will be providing, you will need to come up with a good business name (fictitious name)

Business Idea Resource Links

Nevada County Business Directory

See if your Fictitious Name is Available

Business Plan

Your next step is to write up a business plan.  This will show how you, and others, will evaluate your business.   If you are planning on seeking the financing of investors or lenders, they will want to read your business plan before they supply you with the investment funds for your new business.   If you are planning to self-finance then you will still want to have a written plan to help you develop business strategies so you can target your financial objectives and projections.

A key ingredient of the business plan is your marketing plan.   It helps explain your marketing strategies that you will use to advertise and promote your products or services.

The primary goal in developing your business plan is help you analyze the success of your business in the future, but it also shows the amount of funds that are needed to operate your business to a break-even point and then on to profit.

Business Plan Resource Link    -     How to write up a Business Plan

Financing your Business

The options for financing your business are to either self finance, or obtain a loan.  The loan can be one from your family or friends, a lender, or partner.   The lender can be either a private money lender, or a bank.  The partner can either be a full partner or a limited partner.

Self Financing is always the best option if you can do it.  It will be your money and you will have full control of your business.   However, an overabundance of start up money is not always a luxury that most of us have - so getting a business loan is usually required.  

Investors, even friends & family, will usually want some type of ownership and/or control of your business to protect their interest.   Any type of loan can burden the business with an additional expense of the loan payment with interest, which can delete your profits.  

The start up costs of  your business is one of the steps that you should proceed cautiously, as it will affect your operations, and the important financial success needs.

Financing Resource Link  -  Financing your Business

Operation of your Business

Answering the following questions are necessary before you open your door for business.

Where are you going to run your business?   Will a home office do, or is commercial space needed to service your customers?  

How will you let the public know about your business?

Do you need to hire employees to help you run the business?  

What are your bookkeeping needs, do you need an accountant?  

What taxes do you have to pay and collect?

Marketing & Advertising your Business

A key element within any business plan is the marketing or advertising of your business.    Letting the public know about your product or service is essential to obtaining paying customers.   Whenever you have any changes to your inventory, or services, you need to let the public know about them.    Cost effective advertising is very important, because if you have an advertising budget that eats up all current and future profits this not beneficial to the viability of your business. 

There a many different  mediums for advertising your business:  Internet, Newspaper, Magazines, Radio, Television, Billboards and many others.

Advertising Links for your Business

Nevada County Commerce

The Union