Image via Flickr/Flazingo Photos, resized

To be officially in business, key components such as the following are crucial to the ultimate success of your business: a standout logo, trademark/copyright paperwork, a business license, and necessary permits.

In branding, your product or service logo is a way to instantly remind the consumer of your brand. Designing a logo that encompasses all that you want to represent may be difficult but here are a few helpful tips to coming up with a logo. Create a simple and memorable logo so the general public will recognize it. Be sure to copyright your logo to avoid piracy.

Writing a business plan is almost always necessary, depending on what business you are in. It is the blueprint to whatever it is you are trying to build. It provides a target and an end goal to reach. A business plan plays a key role in the success of your business.

Getting the right licenses for your business is a very important part of being in business. Having the right business licenses will save you a ton of money and headache. First, you should know what the specific requirements for your state are. Each state is different. Permits are a must for selling goods, or you risk a hefty fine.

Then, you will need an employer identification number. This will help you have the right to employ anyone in the future.

Another important yet overlooked part of running a business is to receive training and assistance. If it is your first time running a business and you believe that your hard work ethic is enough to run a business, check again. You may not recognize the effect it has early in the business, but eventually it will become a hassle.

Image via Flickr/Flazingo Photos, resized

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