The Root
Quick small business tips without the fluff
January 2023
January 2023
I’m so excited to share the first edition of our newsletter with you called The Root. I hope to offer simple tips & resources without making you read through unnecessary info. You’ll hear from me once a month at most.
If you find The Root helpful, please forward to a friend.
– Paula
Tips on establishing a business
Sole Proprietorship vs LLC
If you’ve already started selling goods or services without setting a specific business structure, you’re automatically a sole proprietor. The benefit of choosing the LLC structure over sole proprietor is business members are not personally responsible for business debts and liabilities.
Learn more on the Texas Secretary of State site and LegalZoom.
If you’ve already started selling goods or services without setting a specific business structure, you’re automatically a sole proprietor. The benefit of choosing the LLC structure over sole proprietor is business members are not personally responsible for business debts and liabilities.
Learn more on the Texas Secretary of State site and LegalZoom.
How I established my LLC in Texas
The IRS now allows you to file your business and obtain an EIN online.
Here is the IRS’s EIN application information page and here is where you can apply.
The IRS now allows you to file your business and obtain an EIN online.
Here is the IRS’s EIN application information page and here is where you can apply.
I had trouble setting up a Chase business checking account in person, so I opened one online
After I got my EIN, I went to Chase. I was told by the branch manager I needed additional filing in the state of Texas in order to open the account, but he couldn’t tell me what that filing was. I went home and went through the prompts online to set up a business account and was able to do it no problem just using my EIN. They recommend their Chase Business Complete Banking(SM) account for small businesses. If you choose to do your banking with Chase and run into the same issue, try applying online.
Here is Chase’s Business Checking info page. You can follow the links to apply online.
After I got my EIN, I went to Chase. I was told by the branch manager I needed additional filing in the state of Texas in order to open the account, but he couldn’t tell me what that filing was. I went home and went through the prompts online to set up a business account and was able to do it no problem just using my EIN. They recommend their Chase Business Complete Banking(SM) account for small businesses. If you choose to do your banking with Chase and run into the same issue, try applying online.
Here is Chase’s Business Checking info page. You can follow the links to apply online.
*I am not a lawyer and cannot give legal advice. Please consult a legal professional before taking action on the items above.
**I do not endorse any businesses mentioned.
**I do not endorse any businesses mentioned.
Tips on marketing
Essential brand & marketing elements
You need a [custom] logo and website. The rest will depend on your type of business.
I personally don’t believe that many brand new businesses need to focus heavily (or sometimes at all) on SEO or paid ads immediately. Word of mouth is cheaper and more productive in the beginning.
Social media is important for almost everyone, but especially food, retail, real estate, and other businesses that rely on visuals to sell their goods. But you don’t need to invest time into every social platform; choose the platform(s) that your audience is using the most. Here’s a resource from the Pew Research Center on different demographics and how they use social media.
You need a [custom] logo and website. The rest will depend on your type of business.
I personally don’t believe that many brand new businesses need to focus heavily (or sometimes at all) on SEO or paid ads immediately. Word of mouth is cheaper and more productive in the beginning.
Social media is important for almost everyone, but especially food, retail, real estate, and other businesses that rely on visuals to sell their goods. But you don’t need to invest time into every social platform; choose the platform(s) that your audience is using the most. Here’s a resource from the Pew Research Center on different demographics and how they use social media.
How much marketing costs
Your minimum expected cost for a unique logo and website will likely be around $2,600. Your minimum monthly marketing expenses will possibly range between $1,100-$2,400/mo per service depending on your strategy.
I wrote this article which has a pricing table so you can see what to expect from freelancers vs agencies for different design and marketing services.
Your minimum expected cost for a unique logo and website will likely be around $2,600. Your minimum monthly marketing expenses will possibly range between $1,100-$2,400/mo per service depending on your strategy.
I wrote this article which has a pricing table so you can see what to expect from freelancers vs agencies for different design and marketing services.
Free & cheap tools
Design
Canva is a great resource for folks who don’t have design chops or enough funds to pay a designer for projects like social posts, flyers, business cards, and more. They offer a free plan and nonprofits can get Canva Pro for free.
The link above is my affiliate link, and I may receive a small referral fee if you sign up for a paid plan using this link. But paid plans aren’t necessary for most of my clients’ needs.
Read our free resources article about Canva and other tools here.
Canva is a great resource for folks who don’t have design chops or enough funds to pay a designer for projects like social posts, flyers, business cards, and more. They offer a free plan and nonprofits can get Canva Pro for free.
The link above is my affiliate link, and I may receive a small referral fee if you sign up for a paid plan using this link. But paid plans aren’t necessary for most of my clients’ needs.
Read our free resources article about Canva and other tools here.
Social media post scheduling
Later is a social media management platform and link in bio tool for every social network. It lets you plan, analyze, and publish content in advance. While it’s not listed on their pricing page, you can create an account for free and schedule up to 10 posts per month per platform.
Later is a social media management platform and link in bio tool for every social network. It lets you plan, analyze, and publish content in advance. While it’s not listed on their pricing page, you can create an account for free and schedule up to 10 posts per month per platform.
Events & webinars
SCORE’s SEO Marketing For Small Business Websites live webinar on Tuesday, January 24 at 12pm CST.
Submit a question to be answered in The Root
Email paula@courcollab.com or click the button below to tell me what you want to learn in The Root.