Whether you’re in a bustling city filled with people and commerce, or there are a ton of outdoor dining venues or historical attractions, there’s a reason you’re there and why you’re contemplating creating an eco-friendly business that gives back to the community.
The people and economic climate can help you turn your business into a reality, no matter the reasons. But should you take the risk, and where do you start? In this article, John J Byrne Community Center offers some insightful guidelines you can follow to create a successful eco-friendly business in your community.
Choose Your City
According to World Population Review, in 2021, the top 10 most-populous cities ranged from a little over 8.6 million people (New York City) to just over 1 million (San Jose, Calif.). If you’re in or near one of these metros, your revenue potential is significant with so many people.
These cities are meccas for doing business. But, according to AdvisorSmith, they’re not the only destinations for starting new companies. Carson City, Nevada, for example, is tops in startups for cities with fewer than 150,000 residents; Boulder, Colorado is tops for mid-sized cities; and Miami, Florida, is number one for cities with a population over 500,000. Locating your business near mature companies makes it easier for you to establish connections in your town, mainly because the established traffic brings more exposure.
How Your Business Can Make a Difference
Beginning a small business can benefit you, but you’re also helping your city’s small communities at the same time. First, small businesses help bring about growth and expansion. Successful companies may also increase property values in the area, benefiting homeowners. As a small business, you’ll help drive the market in the region. Your business will also bring about choice and convenience, depending on your focus.
Before you open your business, you should carefully research the demographics in the area. Determine if there’s a market for your business. Consider if other established companies in the region offer the same products or services. Will you stand out? Can you set yourself far enough away from them to minimize the competition?
Once you know where you’re going to locate your business, you may want to create a limited liability company (LLC). Forming an LLC separates your business and personal affairs, which can protect your assets in the event of a legal matter. Moreover, you’ll simplify your taxes and paperwork and increase your tax incentives with an LLC.
Additionally, think about filing for an EIN, which will identify your business for tax purposes. It’ll keep your personal information shielded from theft, and you may use it to file for business loans and open business bank accounts.
Don’t forget about the software you’re going to need to not only start up but to manage your business on an ongoing basis. These include tools to draft a business plan, run payroll, keep track of invoicing and sales reporting. Luckily, there are also plenty of free online resources that you can use – like this tool to combine PDFs into one file, which will save you a lot of headaches by preventing the need to email multiple files at a time.
Keeping the Community Involved
After you start your business—or even before you open your doors—get the community involved and start marketing. Get your name out there by speaking to residents near you. Let your friends and family know you’re opening a business, and what you’re offering so they’ll spread the word. Make connections with other local business owners.
In addition to word-of-mouth marketing, you should get busy creating your logo. Your logo will appear in everything from your social media campaigns and website to storefront banners and letterhead, so be sure it stands out from the crowd and allows people to identify you with your message and brand quickly.
Create social media pages with your logo in hand and keep the community informed. Offer discounts and other incentives to generate business. Consider hosting a game night at your company. Millennials are the driving force behind the sustainability movement, and they’re also avid gamers. Forbes notes that gaming is the choice mode of interaction for millennials regarding social media consumption, so why not connect the link and kick your business off with your audience in mind?
Start Your Business Off Right
Bottom line, when starting a green or sustainable business, address the business end properly by tying up any loose ends. Additionally, make sure you keep your target market involved and updated.
Gloria Martinez of WomenLed.org.
The mission of the John J Byrne Community Center is to provide community space for children, youth, and adults of every walk of life to gather safely to pursue opportunities for growth, enjoyment, exploring, and general well-being. Call 516-554-8124.