Eating undercooked meat from wild game animals can cause a rare illness known as trichinellosis, health officials have warned.
Six cases of the parasitic disease were reported by multiple family members from Arizona, Minnesota and South Dakota.
The family members shared a meal that included undercooked meat from a black bear, as reported in the Centers for Diseases Control and Prevention (CDC)’s Morbidity and Mortality Weekly Report.
“It is critically important to remember to properly cook any raw meat, as inadequately undercooked meat has a potential for both trichinosis and other infectious illnesses,” Dr. Aaron Glatt, chief of infectious diseases at Mount Sinai South Nassau Hospital on Long Island, New York, told Fox News Digital.
Meat containing Trichinella worms may also cross-contaminate other food items, such as vegetables, that are cooked alongside it, the CDC warned.
“People who consume meat from wild game animals should be aware that adequate cooking is the only reliable way to kill the parasites that cause trichinellosis, which can be resistant to freezing,” Shama Cash-Goldwasser, epidemic intelligence service officer at the CDC, told Fox News Digital.
Experts shared a summary of the cases reported so far — plus, tips for preventing trichinellosis.
In early July 2022, a 29-year-old man, whose name was not shared, started to feel ill a few days after sharing a meal during a family reunion in South Dakota.
He was hospitalized after returning to Minnesota, complaining of fever, severe muscle aches and swelling around the eyes. Blood tests revealed high levels of eosinophils, a type of white blood cell that can indicate a worm infection.
The man’s most recent meal had included kabobs made from the meat of a black bear, the report stated.
The black bear was originally harvested by one of the family members in northern Saskatchewan, Canada, in May 2022 — then frozen in a home freezer for 45 days at an unknown temperature.
The bear meat was then thawed, grilled with vegetables and served “inadvertently” rare, the report said.
The man was treated with albendazole, an anti-parasitic medication. An antibody blood test confirmed he had trichinellosis.
The CDC launched an investigation, finding that six people from the gathering — with their ages ranging from 12 to 62 — had symptoms consistent with trichinellosis.
Among the six people, four had consumed both the bear meat and vegetables, but two only ate the vegetables. Three were hospitalized, but all recovered.
The CDC found live worms in the remaining bear meat.
Approximately 1% to 24% of black bears in Canada and Alaska are infected with trichinellosis, per the report.
“Trichinellosis is the disease caused by a parasitic worm called Trichinella,” Scott Roberts, M.D., associate medical director of infection prevention at the Yale School of Medicine in New Haven, Connecticut, told Fox News Digital.
“It is very rare in humans and associated with eating raw and undercooked meats, particularly pork and wild game.”
Some examples of wild game that may cause disease include wild boar, wildcat, fox, wolf, seal or walrus — but people can also get infected from homemade jerky and sausage, according to the CDC.
There are approximately 10,000 cases worldwide every year, but only about 15 cases in the U.S. annually.
The disease historically has been linked to eating uncooked pork, but a better understanding of proper food preparation has reduced those occurrences, Glatt noted.
Current regulations around raising commercially farmed pigs have also helped to lower the risk of trichinellosis in the U.S., the CDC noted.
Although infection is rare, it is possible after eating even a small amount of raw or undercooked meat, the agency warned.
The severity of symptoms depends on how much of the parasite is ingested, Roberts told Fox News Digital.
After the contaminated meat is consumed, the stomach produces acid that causes larvae to be released, the CDC stated.
After one week, the larvae travel in the bloodstream, sometimes making their way into the muscle — which can cause muscle pain, according to the CDC.
“Symptoms can range from none at all, to GI issues (abdominal pain, nausea, vomiting, diarrhea) and muscle/joint pain,” Roberts said.
One hallmark symptom is swelling of the face, especially around the eyes, per the CDC.
Occasionally, the worms may also travel to the heart, lungs or brain, which can lead to problems with coordination, cardiovascular issues or breathing issues.
Most cases will not require treatment, but antiparasitic therapy can be given if symptoms are severe, Roberts said.
To prevent trichinellosis, Cash-Goldwasser of the CDC recommends cooking wild game meat to an internal temperature of at least 165 degrees Fahrenheit (74 degrees Celsius) and verifying the temperature with a meat thermometer.
“Safe handling of raw meat, including separation of raw or undercooked meat and its juices from other foods, is also recommended to prevent cross-contamination,” she told Fox News Digital.
The agency also advises against sampling meat until it has been confirmed to be fully cooked — and recommends freezing pork less than six inches thick for 20 days at 5 degrees Fahrenheit.
Some wild game animals are freeze-resistant, which means freezing may not effectively kill all worms.
Salting, drying, smoking or microwaving meat also does not effectively kill worms, per the CDC.
People should always remember to wash their hands with soap and warm water before and after handling raw meat — and to clean meat grinders and all other kitchen items thoroughly after each use, the agency advised.
After viral reports over tension within the network, ABC News president Kim Godwin will be stepping down.
In an email sent out to staff on Sunday night, Godwin announced that she would be retiring from her position after being appointed in 2021.
“I have decided to retire from broadcast journalism,” Godwin said in the email obtained by Fox News Digital.
She continued, “Anyone who’s passionate about what we do knows there’s no other business like it, so this was not an easy or quick decision. But after considerable reflection, I’m certain it’s the right one for me as I look to the future and prioritize what’s most important for me and my family.”
Godwin also praised the network for hiring her as the first Black woman to head a national news network.
“I understood and appreciated the profound significance of being the first Black woman to lead a national broadcast news network when I accepted the role as president of ABC News a little over three years ago. It’s both a privilege and a debt to those who chipped away at the ceiling before me to lead a team whose brand is synonymous with trust, integrity and a dogged determination to be the best in the business,” she said.
Disney Networks president Debra OConnell also sent out a statement thanking Godwin for her work.
“Dana and I would like to take this opportunity to express our deepest gratitude to Kim for her service as president of ABC News. Kim has navigated this team through consequential times in our world, and she did so with respect for the brand and profession – and for that and more, we thank her,” OConnell wrote.
OConnell also stated that she would be heading up the ABC News division as they move through this “period of transition.”
Godwin reportedly faced internal backlash at the network over her leadership style, as frustrated insiders at ABC argued OConnell needed to take action.
“She has to take swift moves,” a person close to ABC’s internal operations told CNN of OConnell. “People there are restless. They are extremely frustrated.”
Several ABC News staffers also told CNN that Godwin had made several prominent mistakes, including the creation of an inner circle that has “alienated staffers,” according to the report.
Godwin has also privately complained of being micromanaged by OConnell, according to Puck News. The outlet reported that in conversations with several current ABC News employees, that “representation” and the fact that Godwin is the first Black woman to head a broadcast news division, had become the obvious, underlying problem in any discussions about the future of the company, and her possible firing.
“Race in the workplace is so nuanced that it can be easily weaponized by all sides and bad actors of any race,” a Black ABC News veteran told Puck.
“Disney fell into the trap of the soft bigotry of low expectations and appointed someone everyone knows is unqualified to do the job… Now [they] are worried that firing the first Black woman would be an act of racism, when she is simply bad at her job,” the person continued.
If your answer is yes, then you need a detailed guide on how to start a startup.
For those of you who haven’t launched a business before, it can sound like an intimidating task.
Don’t get me wrong – I’m not saying that getting your startup off the ground is an easy mission.
It takes hard work, dedication, money, some sleepless nights, and, yes, some failures before you succeed.
Nearly 20 percent of businesses fail in the first year, and just because you make it beyond 12 months doesn’t mean your startup is going to continue to thrive.
According to government stats, 30.6 percent of businesses fail after their second year, 49.7 percent fail after five years, and 65.6 percent fail after their tenth year.
Once you get your company off the ground, it doesn’t get any easier: you need to work just as hard to keep it going each year.
With that said, it’s useful to have a guide and a set of instructions to follow to learn how to launch a startup.
When I write about launching a startup, I’m talking from personal experience. I’ve created several startup companies like Crazy Egg, Hello Bar, and NP Digital.
I’m happy to share my knowledge and experience to help make things a little easier and less stressful for you as you go through this process.
Realistically, it takes hundreds of stages to launch your company, but I’ve narrowed down the top 7 steps into a blueprint for you to follow if you want to learn how to start a startup and learn how to create and develop your own business.
In the following article, I outline and discuss each step in detail so you have a better understanding of what I’m talking about.
Let’s begin with the basics.
1. Create a Business Plan
Have you heard the saying ‘if you fail to plan, you plan to fail?’ That was the thinking of Founding Father Benjamin Franklin.
Well, research appears to back that up. Study after study shows that businesses with a plan are more likely to succeed. In addition, you can find many articles spelling out the importance of a business plan.
“A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.”
It’s pretty straightforward, really. Having an idea is one thing, but having a legitimate business plan is another story.
A proper business plan gives you a significant advantage, but what should you include in a business plan? It helps if you think of it as a written description of your company’s future. Basically, you outline what you want to do and how you plan to do it.
Typically, these plans outline the first three to five years of your business strategy and detail your business’s purpose and aims. Ideally, your document should outline your business goals, strategies, and your plans for achieving them.
Here are the key steps to writing a successful business plan:
Outline your business goals
Describe your target market
Explain your product or service
Detail your marketing and sales strategies
Write down your financial projections and detail the funding
Summarize your overall strategy
If you need some help with your plan, the Small Business Administration has an easy-to-follow guide, along with some templates.
2. Secure Appropriate Funding
Without adequate funding, your business won’t launch or stay afloat long-term. According to Statista, in 2021, there were nearly 840,000 businesses that had been in operation for less than a year. Many of these startups won’t survive because they underestimate the cost of doing business.
Perhaps you’re wondering what level of financing you need? When it comes to raising cash, there’s no magic number that applies to all businesses. The startup costs vary from industry to industry, so your company may require more or less funding depending on the situation.
Costs also vary depending on whether you’re a brick-and-mortar store, e-commerce enterprise, or service business. If you’re unsure how much you might need, try the SBA’S startup cost templates to get a better idea.
Online startup loans, which you can apply for online and pay back over time, with interest.
SBA microloans, providing up to $50,000 in loans for start-up businesses. The main advantage is the lower interest rates.
Lines of credit, which is a type of loan available in both secured and unsecured formats.
Invoice factoring/financing, a process in which a business sells its invoices to a third party, at a discount.
Friends/family/personal loans, which are unsecured loans.
Business loans, which you pay back over an agreed period.
Angel investors, who have considerable wealth and give seed funding to start-up businesses.
Crowdfunding, where you raise money from a group of investors online.
Let’s circle back to our business plan for a minute.
All business plans contain a financial plan. This usually includes a:
Balance sheet, which displays your business’s assets, liabilities, and owner’s equity of the company.
Sales forecast, which predicts future sales.
Profit and loss statement, which details your earning and spending patterns. This figure helps calculate your net income.
Cash-flow statement, or financial statement detailing how much your business has spent and generated.
You use these financial statements to determine how much funding you need to launch successfully. Additionally, you may discover that the number is significantly higher than you originally anticipated.
For example, I’m sure you’ve heard someone say, “That would make a great app,” or “I should make an app for this.”
Do you know how much it costs to make an app? Depending on the complexity, you’re looking at anything between $40,000 – $300,000, and that’s just to make it.
This is the point I’m making: to secure the appropriate funding, you need to find out how much money you need.
To find this number, you must research and predict realistic financials in your business plan.
Let’s say you discover that your startup needs $100,000 to get off the ground.
What if you don’t have $100,000?
You’ve got some options, like bank loans and commercial lenders, and that’s the way many small businesses go. With this said, banks are less likely to give large amounts of money to new companies with no income or assets to default on, which may make it hard for your typical startup to get the funding they need.
Don’t worry, your dream isn’t dead yet. You can find investors. They could be:
However, whichever method you use, proceed carefully because you don’t want to start giving away significant equity in your company before you launch.
Then, if you get lucky and find a potential investor, you need to know how to pitch your idea quickly and effectively. Here are some tips to help you do that:
Memorize your financial numbers; ensure you know them inside out.
Refer to your business plan and ensure your financial figures cover the costs.
Make sure your business plan is presentable so you can give potential investors a copy.
Practice and perfect your pitch.
One more thing: It’s imperative that your business plan has a proper executive summary to entice busy investors.
Once you secure the appropriate funding, you can proceed to the next step of how to start a startup business: finding the right people.
3. Surround Yourself With the Right People
No one makes it on their own. William Proctor might not have been a high-profile, successful businessman if he hadn’t met James Gamble.
Where would we go for advice if Larry Page hadn’t met Sergey Brin? Not Google, that’s for sure.
Then what if Ben Cohen never met Jerry Greenfield? We would’ve been denied one of the world’s most famous ice cream brands.
Even if you’ve already got a co-founder in place, you need some core staff.
CEO and COO. Between them, they develop a vision and put it into action.
Product Manager, who is responsible for taking a product from its development stages and onto the market.
Chief Technology Officer, who works with executive members to oversee the technical side of a business.
Chief Marketing Officer, whose job involves creating a marketing strategy and executing it.
Sales Manager, for managing customer relationships, selling products/service, and motivating the team.
Chief Finance Officer, who manages the financial planning and decisions for a company.
Business Development Officer. This is a varied role that involves drawing up a business plan, establishing funding, and building customer/relationship funding.
Customer Service Officer, who assists customers with their questions, any complaints, and providing product information.
However, your business structure depends on the industry, so look at the above as definitive.
When you’re just starting up, hiring an entire team often isn’t realistic, and you find yourself wearing several business hats. That’s OK, to an extent. Just remember to play to your strengths and outsource if you can’t afford to recruit.
That said, there are some experts you should consider essential, including a:
Lawyer
Accountant
Financial advisor
Unless you’re an expert in law, finances, and accounting, these three people can help save your business some money in the long run.
They can explain the legal requirements and tax obligations based on how you structure your business. For example, it could be a:
Sole proprietorship
Partnership
Corporation
Limited liability company
While your lawyer, accountant, and financial advisors are not necessarily employees on your payroll, they are still important people to surround yourself with.
Finally, for this section, don’t forget the fundamentals for starting any company:
Get a federal ID number from the IRS. The IRS lets you submit your business information online to get your employer identification number (EIN).
Get insured: Shop around and find an insurance agent who can get you plenty of coverage at an affordable rate.
Now that you’ve got staff, you need to start work on a website and find a place to base your business.
4. Find a Location and Build a Website
Now you’re ready for the next stage of your how-to start a startup plan: finding a physical location and setting up a website.
Whether it’s offices, retail space, or a manufacturing location, you need to buy or lease a property to operate your business.
Unless you’re working from a home office, your two main options are leasing or ownership. Leasing usually works as out more expensive long term; however, don’t just base your decision on costs. Leasing and ownership both have their pros and cons. Look at the whole picture before making a decision.
I appreciate that it may not be realistic for all entrepreneurs to tie up the majority of their capital in real estate.
Strategize for this in your business plan and try to secure enough funding so that you can afford to buy property. It’s worth the investment and can save you money in the long run.
Let’s move on to setting up a website.
Today, your company can’t survive without an online presence. Don’t wait until the day your business officially launches to get your website off the ground, either, and remember, it’s never too early to start promoting your business.
If customers are searching online for a service in your industry, you want them to know that you exist, even if you’re not quite open for business yet.
The beauty of an online presence is you can even start generating some income through your website before you find premises. If it’s applicable, start taking some pre-orders and scheduling appointments.
Here are some tips about how to launch and promote a successful website:
When designing a website, it is important to keep the user in mind. The layout of the website should be easy to navigate and use. The colors and fonts should be easy on the eyes.
Make your website visually appealing. Use eye-catching images and dynamic designs to make the website stand out from the competition.
Keep the content of the website fresh and up-to-date to keep users coming back to visit your site. Your website is an ideal place to keep your audience up-to-date with a glimpse inside your company, product launches, and, of course, the details of your business premises.
Another important thing to keep in mind is usability. Your site should be easy to use on all devices, from desktop computers to smartphones and tablets.
I’ve got a video tutorial that explains how to speed up your website.
All of these items combined may sound tough, but it’s really not that difficult. Just focus on one task at a time, and you’ll get there.
Once your website is up and running, you need to expand your digital presence. To do this, use social media platforms like:
Facebook
Twitter
Instagram
TikTok
Linkedin
Snapchat
Your prospective customers are using these platforms, so you need to be on them, too. However, when choosing a platform, ensure you go where your core audience is. For instance, if you’re targeting a younger market, TikTok may be ideal.
5. Become a Marketing Expert
If you’re not a marketing expert, you need to become one.
You might have the best product or service in the world, but if nobody knows about it, then your startup can’t succeed.
To start spreading the word, you must learn how to use digital marketing techniques like:
Content marketing
Affiliate marketing
Email marketing
Search engine optimization (SEO)
Social media marketing (SMM)
Search engine marketing (SEM)
Pay-per-click advertising (PPC)
However, if you’re starting a small business in a local community, some of the traditional methods can still work well. Think:
For those of you who aren’t efficient marketers, there is no shame in hiring a marketing director or even a marketing team, depending on the size of your company.
Your marketing efforts will be one of the most important, if not the most important, components of launching your startup business. To improve your chances of success:
Allocate a marketing budget.
Determine how you’re going to distribute this money across different channels.
Have a plan and try to maximize your return on investment for each campaign.
Take these numbers into consideration before you spend your entire budget on something like banner ads.
If you’re following this plan in order, the good news is that you’re already on the right track to building a customer base.
Starting a website, growing your digital presence, and becoming an effective marketer are all steps in the right direction. However, now it’s time to put these efforts to the test. That means:
Opening your doors (or website) for business.
Getting a customer to make a purchase is the first step.
Retaining customers.
There are three keys to customer retention:
Customer service
Customer service
Customer service
It’s no secret. The customer needs to be your main priority. They are the lifelines of your business, and they need to be treated accordingly.
Once you establish a steady customer base, you can use it to your advantage.
As illustrated above, you face peaks and valleys while your company operates.
Mistakes and setbacks happen.
Some of these things will be out of your control, like a natural disaster or a crisis with the nation’s economy.
Employees will come and go.
You’ll face tough decisions and crossroads.
Sometimes, you’ll even make the wrong decision.
That’s OK.
Part of being an entrepreneur is learning from your mistakes.
It’s important to recognize when you’ve done something wrong, move forward, and try your best to make sure it doesn’t happen again.
Pay your bills.
Pay your taxes.
Operate within the confines of the law.
As long as you’re doing these things, you’ll be able to fight through any obstacle your startup company faces in the future.
FAQs
How Do I Start a Startup?
Check if your idea is viable. Do some research and ask around. Are people looking for a business/service like yours? Then ask yourself: How are other businesses in your sector performing? Have you spotted a genuine gap in the market? Then you’re ready to start drawing up a business plan.
Where Can I Acquire Startup Funding?
There are several sources, including personal financing, banks, crowdfunding, friends, family, angel investors, and venture capitalists.
Do I Need a Website to Launch My Startup?
In the vast majority of cases, yes. You also need a social media presence that is applicable to your audience. After all, social media is a free, efficient way to reach a huge volume of people that you couldn’t otherwise target.
How Can I Use Marketing to Launch My Startup?
It depends on your budget. Begin with strategies like social media, free press release distribution, and content marketing. As your business grows, you can allocate a budget for affiliates, email marketing, SEO, online ads, and influencer campaigns.
The percentage of entrepreneurs in the United States is growing strong, and each one of them is going to face challenges along the way.
With that said, having a proper blueprint to follow helps simplify the process. You can get learn the basics of how to start a startup by following the seven steps, and adapting them to suit your individual needs.
With that said, most successful businesses start with validating an idea, creating a comprehensive business plan, and raising adequate funding. Without proper financial planning, your startup doesn’t stand a chance.
Then, surround yourself with the right people and play to your strengths.
For instance, if you’re great at organizing and motivating, focus on that; If marketing just isn’t you, outsource it to a professional who excels in that area.
Don’t forget about lawyers, insurance agents, and accountants to keep your business in order, and make sure you have essentials like an online presence.
Launching your startup is an imperfect journey, and you must prepare for unforeseen circumstances. However, proper planning and execution help limit these hurdles and get your business off to a flying start.
How will you raise funding to get your startup company off the ground?
If your answer is yes, then you need a detailed guide on how to start a startup.
For those of you who haven’t launched a business before, it can sound like an intimidating task.
Don’t get me wrong – I’m not saying that getting your startup off the ground is an easy mission.
It takes hard work, dedication, money, some sleepless nights, and, yes, some failures before you succeed.
Nearly 20 percent of businesses fail in the first year, and just because you make it beyond 12 months doesn’t mean your startup is going to continue to thrive.
According to government stats, 30.6 percent of businesses fail after their second year, 49.7 percent fail after five years, and 65.6 percent fail after their tenth year.
Once you get your company off the ground, it doesn’t get any easier: you need to work just as hard to keep it going each year.
With that said, it’s useful to have a guide and a set of instructions to follow to learn how to launch a startup.
When I write about launching a startup, I’m talking from personal experience. I’ve created several startup companies like Crazy Egg, Hello Bar, and NP Digital.
I’m happy to share my knowledge and experience to help make things a little easier and less stressful for you as you go through this process.
Realistically, it takes hundreds of stages to launch your company, but I’ve narrowed down the top 7 steps into a blueprint for you to follow if you want to learn how to start a startup and learn how to create and develop your own business.
In the following article, I outline and discuss each step in detail so you have a better understanding of what I’m talking about.
Let’s begin with the basics.
1. Create a Business Plan
Have you heard the saying ‘if you fail to plan, you plan to fail?’ That was the thinking of Founding Father Benjamin Franklin.
Well, research appears to back that up. Study after study shows that businesses with a plan are more likely to succeed. In addition, you can find many articles spelling out the importance of a business plan.
“A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.”
It’s pretty straightforward, really. Having an idea is one thing, but having a legitimate business plan is another story.
A proper business plan gives you a significant advantage, but what should you include in a business plan? It helps if you think of it as a written description of your company’s future. Basically, you outline what you want to do and how you plan to do it.
Typically, these plans outline the first three to five years of your business strategy and detail your business’s purpose and aims. Ideally, your document should outline your business goals, strategies, and your plans for achieving them.
Here are the key steps to writing a successful business plan:
Outline your business goals
Describe your target market
Explain your product or service
Detail your marketing and sales strategies
Write down your financial projections and detail the funding
Summarize your overall strategy
If you need some help with your plan, the Small Business Administration has an easy-to-follow guide, along with some templates.
2. Secure Appropriate Funding
Without adequate funding, your business won’t launch or stay afloat long-term. According to Statista, in 2021, there were nearly 840,000 businesses that had been in operation for less than a year. Many of these startups won’t survive because they underestimate the cost of doing business.
Perhaps you’re wondering what level of financing you need? When it comes to raising cash, there’s no magic number that applies to all businesses. The startup costs vary from industry to industry, so your company may require more or less funding depending on the situation.
Costs also vary depending on whether you’re a brick-and-mortar store, e-commerce enterprise, or service business. If you’re unsure how much you might need, try the SBA’S startup cost templates to get a better idea.
Online startup loans, which you can apply for online and pay back over time, with interest.
SBA microloans, providing up to $50,000 in loans for start-up businesses. The main advantage is the lower interest rates.
Lines of credit, which is a type of loan available in both secured and unsecured formats.
Invoice factoring/financing, a process in which a business sells its invoices to a third party, at a discount.
Friends/family/personal loans, which are unsecured loans.
Business loans, which you pay back over an agreed period.
Angel investors, who have considerable wealth and give seed funding to start-up businesses.
Crowdfunding, where you raise money from a group of investors online.
Let’s circle back to our business plan for a minute.
All business plans contain a financial plan. This usually includes a:
Balance sheet, which displays your business’s assets, liabilities, and owner’s equity of the company.
Sales forecast, which predicts future sales.
Profit and loss statement, which details your earning and spending patterns. This figure helps calculate your net income.
Cash-flow statement, or financial statement detailing how much your business has spent and generated.
You use these financial statements to determine how much funding you need to launch successfully. Additionally, you may discover that the number is significantly higher than you originally anticipated.
For example, I’m sure you’ve heard someone say, “That would make a great app,” or “I should make an app for this.”
Do you know how much it costs to make an app? Depending on the complexity, you’re looking at anything between $40,000 – $300,000, and that’s just to make it.
This is the point I’m making: to secure the appropriate funding, you need to find out how much money you need.
To find this number, you must research and predict realistic financials in your business plan.
Let’s say you discover that your startup needs $100,000 to get off the ground.
What if you don’t have $100,000?
You’ve got some options, like bank loans and commercial lenders, and that’s the way many small businesses go. With this said, banks are less likely to give large amounts of money to new companies with no income or assets to default on, which may make it hard for your typical startup to get the funding they need.
Don’t worry, your dream isn’t dead yet. You can find investors. They could be:
However, whichever method you use, proceed carefully because you don’t want to start giving away significant equity in your company before you launch.
Then, if you get lucky and find a potential investor, you need to know how to pitch your idea quickly and effectively. Here are some tips to help you do that:
Memorize your financial numbers; ensure you know them inside out.
Refer to your business plan and ensure your financial figures cover the costs.
Make sure your business plan is presentable so you can give potential investors a copy.
Practice and perfect your pitch.
One more thing: It’s imperative that your business plan has a proper executive summary to entice busy investors.
Once you secure the appropriate funding, you can proceed to the next step of how to start a startup business: finding the right people.
3. Surround Yourself With the Right People
No one makes it on their own. William Proctor might not have been a high-profile, successful businessman if he hadn’t met James Gamble.
Where would we go for advice if Larry Page hadn’t met Sergey Brin? Not Google, that’s for sure.
Then what if Ben Cohen never met Jerry Greenfield? We would’ve been denied one of the world’s most famous ice cream brands.
Even if you’ve already got a co-founder in place, you need some core staff.
CEO and COO. Between them, they develop a vision and put it into action.
Product Manager, who is responsible for taking a product from its development stages and onto the market.
Chief Technology Officer, who works with executive members to oversee the technical side of a business.
Chief Marketing Officer, whose job involves creating a marketing strategy and executing it.
Sales Manager, for managing customer relationships, selling products/service, and motivating the team.
Chief Finance Officer, who manages the financial planning and decisions for a company.
Business Development Officer. This is a varied role that involves drawing up a business plan, establishing funding, and building customer/relationship funding.
Customer Service Officer, who assists customers with their questions, any complaints, and providing product information.
However, your business structure depends on the industry, so look at the above as definitive.
When you’re just starting up, hiring an entire team often isn’t realistic, and you find yourself wearing several business hats. That’s OK, to an extent. Just remember to play to your strengths and outsource if you can’t afford to recruit.
That said, there are some experts you should consider essential, including a:
Lawyer
Accountant
Financial advisor
Unless you’re an expert in law, finances, and accounting, these three people can help save your business some money in the long run.
They can explain the legal requirements and tax obligations based on how you structure your business. For example, it could be a:
Sole proprietorship
Partnership
Corporation
Limited liability company
While your lawyer, accountant, and financial advisors are not necessarily employees on your payroll, they are still important people to surround yourself with.
Finally, for this section, don’t forget the fundamentals for starting any company:
Get a federal ID number from the IRS. The IRS lets you submit your business information online to get your employer identification number (EIN).
Get insured: Shop around and find an insurance agent who can get you plenty of coverage at an affordable rate.
Now that you’ve got staff, you need to start work on a website and find a place to base your business.
4. Find a Location and Build a Website
Now you’re ready for the next stage of your how-to start a startup plan: finding a physical location and setting up a website.
Whether it’s offices, retail space, or a manufacturing location, you need to buy or lease a property to operate your business.
Unless you’re working from a home office, your two main options are leasing or ownership. Leasing usually works as out more expensive long term; however, don’t just base your decision on costs. Leasing and ownership both have their pros and cons. Look at the whole picture before making a decision.
I appreciate that it may not be realistic for all entrepreneurs to tie up the majority of their capital in real estate.
Strategize for this in your business plan and try to secure enough funding so that you can afford to buy property. It’s worth the investment and can save you money in the long run.
Let’s move on to setting up a website.
Today, your company can’t survive without an online presence. Don’t wait until the day your business officially launches to get your website off the ground, either, and remember, it’s never too early to start promoting your business.
If customers are searching online for a service in your industry, you want them to know that you exist, even if you’re not quite open for business yet.
The beauty of an online presence is you can even start generating some income through your website before you find premises. If it’s applicable, start taking some pre-orders and scheduling appointments.
Here are some tips about how to launch and promote a successful website:
When designing a website, it is important to keep the user in mind. The layout of the website should be easy to navigate and use. The colors and fonts should be easy on the eyes.
Make your website visually appealing. Use eye-catching images and dynamic designs to make the website stand out from the competition.
Keep the content of the website fresh and up-to-date to keep users coming back to visit your site. Your website is an ideal place to keep your audience up-to-date with a glimpse inside your company, product launches, and, of course, the details of your business premises.
Another important thing to keep in mind is usability. Your site should be easy to use on all devices, from desktop computers to smartphones and tablets.
I’ve got a video tutorial that explains how to speed up your website.
All of these items combined may sound tough, but it’s really not that difficult. Just focus on one task at a time, and you’ll get there.
Once your website is up and running, you need to expand your digital presence. To do this, use social media platforms like:
Facebook
Twitter
Instagram
TikTok
Linkedin
Snapchat
Your prospective customers are using these platforms, so you need to be on them, too. However, when choosing a platform, ensure you go where your core audience is. For instance, if you’re targeting a younger market, TikTok may be ideal.
5. Become a Marketing Expert
If you’re not a marketing expert, you need to become one.
You might have the best product or service in the world, but if nobody knows about it, then your startup can’t succeed.
To start spreading the word, you must learn how to use digital marketing techniques like:
Content marketing
Affiliate marketing
Email marketing
Search engine optimization (SEO)
Social media marketing (SMM)
Search engine marketing (SEM)
Pay-per-click advertising (PPC)
However, if you’re starting a small business in a local community, some of the traditional methods can still work well. Think:
For those of you who aren’t efficient marketers, there is no shame in hiring a marketing director or even a marketing team, depending on the size of your company.
Your marketing efforts will be one of the most important, if not the most important, components of launching your startup business. To improve your chances of success:
Allocate a marketing budget.
Determine how you’re going to distribute this money across different channels.
Have a plan and try to maximize your return on investment for each campaign.
Take these numbers into consideration before you spend your entire budget on something like banner ads.
If you’re following this plan in order, the good news is that you’re already on the right track to building a customer base.
Starting a website, growing your digital presence, and becoming an effective marketer are all steps in the right direction. However, now it’s time to put these efforts to the test. That means:
Opening your doors (or website) for business.
Getting a customer to make a purchase is the first step.
Retaining customers.
There are three keys to customer retention:
Customer service
Customer service
Customer service
It’s no secret. The customer needs to be your main priority. They are the lifelines of your business, and they need to be treated accordingly.
Once you establish a steady customer base, you can use it to your advantage.
As illustrated above, you face peaks and valleys while your company operates.
Mistakes and setbacks happen.
Some of these things will be out of your control, like a natural disaster or a crisis with the nation’s economy.
Employees will come and go.
You’ll face tough decisions and crossroads.
Sometimes, you’ll even make the wrong decision.
That’s OK.
Part of being an entrepreneur is learning from your mistakes.
It’s important to recognize when you’ve done something wrong, move forward, and try your best to make sure it doesn’t happen again.
Pay your bills.
Pay your taxes.
Operate within the confines of the law.
As long as you’re doing these things, you’ll be able to fight through any obstacle your startup company faces in the future.
FAQs
How Do I Start a Startup?
Check if your idea is viable. Do some research and ask around. Are people looking for a business/service like yours? Then ask yourself: How are other businesses in your sector performing? Have you spotted a genuine gap in the market? Then you’re ready to start drawing up a business plan.
Where Can I Acquire Startup Funding?
There are several sources, including personal financing, banks, crowdfunding, friends, family, angel investors, and venture capitalists.
Do I Need a Website to Launch My Startup?
In the vast majority of cases, yes. You also need a social media presence that is applicable to your audience. After all, social media is a free, efficient way to reach a huge volume of people that you couldn’t otherwise target.
How Can I Use Marketing to Launch My Startup?
It depends on your budget. Begin with strategies like social media, free press release distribution, and content marketing. As your business grows, you can allocate a budget for affiliates, email marketing, SEO, online ads, and influencer campaigns.
The percentage of entrepreneurs in the United States is growing strong, and each one of them is going to face challenges along the way.
With that said, having a proper blueprint to follow helps simplify the process. You can get learn the basics of how to start a startup by following the seven steps, and adapting them to suit your individual needs.
With that said, most successful businesses start with validating an idea, creating a comprehensive business plan, and raising adequate funding. Without proper financial planning, your startup doesn’t stand a chance.
Then, surround yourself with the right people and play to your strengths.
For instance, if you’re great at organizing and motivating, focus on that; If marketing just isn’t you, outsource it to a professional who excels in that area.
Don’t forget about lawyers, insurance agents, and accountants to keep your business in order, and make sure you have essentials like an online presence.
Launching your startup is an imperfect journey, and you must prepare for unforeseen circumstances. However, proper planning and execution help limit these hurdles and get your business off to a flying start.
How will you raise funding to get your startup company off the ground?
But how? Why? In this article, we’ll go over how I became one and how to become an influencer in your own field.
1. Start by Becoming an Influencer in a Niche Field
Most great influencers start as a microinfluencer, a person on social media with roughly 10,000-50,000 followers. In a pinch, think of them as having a larger following than your average person, but less than a celebrity or established influencer. This is great because it allows you to start building a dedicated following and see what type of content works for you on a smaller scale.
With this said, though, even if you have a decent size following, you want to always establish credibility with the audience. Micro influencers can extend powerful word of mouth to small groups. As you start out as a micro influencer you’ll develop expertise in your niche. They don’t have the followings of a Kardashian, but they’re more affordable and can still reach enough people to make a difference in product sales.
I started in the trenches of SEO before learning content marketing, conversion rate optimization, influencer marketing, social media marketing, and more. I worked hard. to get to nearly 432K Twitter followers.
One day you might get to 400K + followers too; but to become an influencer, you have to start with one.
Start as the expert among your friends and peers.
Work toward being the expert in your city and state.
Then become an influencer from there.
2. Create a Content Strategy
Once you have a niche, it’s time to build your content strategy. Content strategy can be a vague concept, but for the purposes of this post, we mean things like publishing cadence, tone and voice of the author, and content elements (text, graphs, etc.).
For my content strategy, I have strict goals I set for myself to create a set amount of social posts on each network while maintaining blog quality and working on side projects. I also made sure I use the same conversational tone and voice in my content (can you tell?)
Not terribly hard right?
Once you’re armed with this information, you can select your channels.
3. Select Your Channels
There’s no wrong answer for which social channels to be on and avoid.
Facebook is the most popular, with 94% of marketers using Facebook worldwide as of January 2020, followed by LinkedIn with 76%.
Facebook is by far the most popular, with almost 75% market share in 2022. But that dropped from 65% in 2015, and other social channels still have validity.
While I enjoy my time on certain channels more than others, I don’t play favorites when engaging with my audiences.
I do my best to show up everywhere.
My page gets a ton of traffic and has a great conversion rate.
Where you can network with Justine Ezarik is at technology trade shows like CES, the Webby Awards, the Streamys, and several other events. You can follow her social accounts to see which events she attends.
Event marketing is a big trend and being able to boast influencer attendance is huge.
Why not make it a priority for marketing yourself?
Get off the couch, get out the house, and get to major events related to your niche. Or, even easier, attend online events, which are becoming more popular in the post-COVID world.
You can start your search at the Trade Show News Network for listings of trade shows around the world in every industry.
5. Participate in Off-site Forums
Becoming a popular social media influencer does have its advantages. For example, in 2020, the most popular YouTubers earn more than a billion dollars a year from advertisements and sponsorships.
Not all of us can be that lucky. The rest of us have to venture outside social media and participate in forums, comment wells, and other online discussions so we can boost our following.
Every discussion you can be a part of online enhances your reputation, influence, and connections.
6. Create a Website or Blog
Conversations don’t end on social media.
You’ll always have more to say than can fit in a tweet or Instagram post as a social media influencer.
With a website or blog, you have a place to direct your social followers as you gain them.
Be prepared to lead your followers into your well-designed conversion funnel by building out your blogging content strategy. Start with including a link to your blog in your social media posts. A link to your website or blog can actually increase your audience engagement on social media.
And it goes without saying the longer blog content needs to provide even more value than a social post to get clicks.
7. Provide Value to the Conversation
If you’re not providing value to the conversation, you’ll never reach the ears of anyone influential.
When trying to become an influencer, remember you need to be the person people are talking to each other about.
If you can impress people enough with your knowledge and conversational value, they’ll sell everybody else on you.
Then they’ll tell two friends, and so on…until you become an influencer!
8. Stay Ahead of Current Events
There are two types of content, evergreen and topical.
Evergreen content stays forever relevant, such as an article about a historical event.
Topical content is hot right now, but will soon be forgotten. Basically, everything happening today.
When writing a blog post, I’d stay as evergreen as possible since you don’t want to have to update your content constantly. But on social media, staying informed about current events is the key to being shared.
Every year since 2003, Starbucks has been able to rally up customers for their seasonal drink. For example, in 2021 they expanded the offering of the beloved Pumpkin Spice Latte to stores in Europe, the Middle East and Africa. They were able to expand customer reach and created a quiz to strengthen their #PSLlovers community.
Using this seasonal tradition with user-generated content created a brand win for Starbucks by appealing to customer loyalty through a festive time of year.
Staying topical is how you go viral on social media.
You can use tools to stay on top of social media trends. You can also set a Google News alert to monitor the entire Internet for specific keywords and phrases.
Do what you have to do to stay current.
9. Understand All Channels
Even if you don’t use a particular social media channel, if you want to become an influencer it’s still important to understand who does.
I’m not a big user of Snapchat, for example, but I understand its 250 million+ (mostly younger) users can’t be ignored.
TikTok may not be for you, but the platform has doubled it’s worldwide users between 2019 and 2021. It’s also the most engaging channel of all the popular platforms today. So, if you’re looking to build a community, the numbers don’t lie – it makes the most sense for you to build a following there. Because the demographics of who uses each channel are so varied, each social network requires a different strategy.
For example, here is a chart showing best practices for posts you can share on each channel during the Holiday season:
While minor, these differences make a world of difference in determining whether you’re a hero or a zero in your industry.
This type of chart helps you prepare posts to schedule in advance.
10. Stay Authentic and On-Brand
Going back to the Super Bowl, it’s an interesting event. Why? Because brands have made the commercials as anticipated as the actual game. Many come through with epic TV spots that tell their brand story.
The takeaway: it’s important to be authentic and stick to your brand voice to become an influencer.
Digital ad spend grew 18% in February 2021 compared to a year prior. TV ad spend declined nearly 27% over the same period.
This means an authentic voice on social media is more critical than an expensive Super Bowl commercial.
If you’ve ever visited my blog or social media profiles, you know I actively respond to comments.
Here’s an example from a recent blog post I promoted on Facebook several years ago.
My followers love to ask me questions and comment on things, and I love to respond.
This is how I built a social community that participates and engages with my content.
When responding, be sure to stay consistent and friendly.
Don’t respond to trolls and other haters, unless you have a great zinger that will help your brand image.
12. Engage with the Community
It’s not enough to simply respond.
To become a social media influencer, you need to start conversations.
Rather than creating content for social media that promotes your brand, create content that actually helps people in your online community. This could include short-from videos, as Lush does frequently on their Instagram and other social channels:
This type of engagement is what social media was designed for.
It’s easy to do on platforms like Twitter where scaling Twitter engagement is the main function of the channel.
And people remain engaged on these platforms.
The more you engage with the community outside of your feed, the further you spread your influence. Don’t just respond to comments on your Facebook page.
Post in groups, post on friend’s pages, and tag other influencers to engage the community.
If you become a person who can actually handle constructive criticism, critics will mold you into a more polished influencer.
Being an influencer isn’t about dictating what people do. It’s about creating a movement, and constructive criticism is essential to that.
Nobody wants to be surrounded by yes men.
Which reminds me…
15. Remain Approachable
Phil DeFranco is one of the most influential YouTube users with his SXEPhil account.
The reason is somewhat because of production values and length of service.
More importantly, however, Phil remains approachable, despite his success.
Tackling topics as diverse as politics, social media, pop culture, and nuances of the YouTube platform itself, Phil maintains an everyman approach.
Never let yourself get so caught up in social media fame that you become a prima donna, disconnected from reality in your ivory tower. If you do, there could be consequences.
The more approachable you are, the more influential you’ll be.
16. Research New Topics Daily
I can’t stress enough how important it is to constantly generate new topic ideas.
It’s harder than it sounds over the long term. That’s why I use Google Alerts.
I can set alerts to deliver to my email anytime my name is mentioned on any frequency I like.
There are a ton of other customization features.
In addition to setting up Google News alerts, pick a handful of publications to stay informed on.
I check blogs like Moz, Entrepreneur, and Hubspot daily to keep ideas for fresh topics in my head.
The more knowledgeable and well-rounded you are, the easier it’ll be to gain influence.
17. Automate Posts
Automation is the latest marketing trend, and it’s easy to see why.
You gain efficiency and speed, along with valuable data.
There are plenty of free tools to automate social media posts and let you schedule your content in advance using content calendars.
This is how professional publishing and social agencies work.
Also, keep in mind blog posts can automatically be set up through the blog CMS to promote on social media channels.
Whatever you use, be sure to automate posts so you have a steady stream of content.
18. Follow Influencers and Give Shout Outs
To be an influencer, you need to know other influencers.
Who you’re following is almost as important as who follows you.
To expand your influence, you need to show people they’re influencing you as well.
On Twitter, there’s a hashtag group called #Teamfollowback that believes in reciprocating every follow.
I don’t go that far, but I do try to follow other influencers to engage their audiences along with mine.
Many social media influencers also love giving shoutouts to followers, fans, and subscribers.
Shoutouts make people feel like they’re personally contributing to the community. They incentivize participation.
And last, but certainly not least, is the data we’ll need to quantify all this work.
19. Quantify Your Efforts With Data
Each social media site will show your impressions and audience engagement numbers.
It’s usually on the front page.
This only shows half the picture of your real influence.
However, with a website and Google Analytics, you can see the rest.
We can tell which social channels are getting clickthroughs to our site and how many people are converting from there.
Once you understand how many posts it takes to generate a conversion, you’ll be able to calculate an ROI for your social media efforts.
This isn’t the only benefit of being an influencer.
Like I said at the beginning, you can influence other influencers and drive the conversation.
Just be sure to use your power for good.
Quick Tips For Influencer Success
Become an Influencer in a Niche Field
Start small; pick a niche topic and become an expert in that. Over time you can expand your influence.
Create a Content Strategy
Decide how often you will post, what your tone will be (casual versus professional, for example), and what elements you’ll use in the content you publish.
Select Your Channels
Decide which social media channels to focus on.
Network Within the Industry
Get to know other experts in your industry by connecting with them on social media and attending industry events.
Participate in Off-site Forums
Expand your reach by participating in forums, comment discussions, and other online discussions.
Create a Website or Blog
Create a blog to give followers a place to get to know you better and to show off your industry expertise. A blog can also give you more engagement data to show marketers who want to pay you for ads and endorsements.
ProvideValue to the Conversation
It’s not enough to just put out content. You need to provide value to your followers by providing content that is new or offers a unique perspective.
Stay Ahead of Current Events
Stay abreast of what’s going on in your field and share about it on your social channels. If people can look to you for breaking news in your industry, it will go a long way towards helping you become an influencer.
Understand all Social Media Channels
Figure out what channels are most relevant to your industry and focus your efforts there.
Stay Authentic and On-Brand
Tell your brand story often to engage and grow your followers.
Respond to Comments
When people comment on your social media or blog posts, take the time to respond. People will be more likely to follow and interact with you if they feel like they know you.
Engage With the Community
Maintain a presence outside of just your own channels. Start conversations, tag other influencers, participate in Facebook groups, etc.
Consistently Publish Fresh Content
Publishing fresh content keeps and grows your follower list and pleases the algorithm gods.
Listen to Criticism
By listening to and incorporating criticism, you can become a better influencer.
Remain Approachable
No matter how big you get, stay humble. Arrogance is a turnoff and could cost you followers and sponsorships.
Research New Topics Daily
The best way to stay on top of industry trends is to set Google alerts. You should also spend time reading industry blogs. If you subscribe to any industry newsletters, spend some time reading those as well.
Automate Posts
Make your life easier by creating your posts in advance and scheduling them to be posted automatically using tools like one of these CRM software platforms.
Follow Influencers and Give Shout Outs
Get noticed by other influencers by following them and tagging them in your posts. If you can gain their trust, they may be willing to reciprocate. This could make some of their followers follow you in turn.
Quantify Your Efforts WithData
Use the analytics tool most social media channels provide to track your followers, engagement, and other data. These figures can help you gain sponsorships since they help prove your influencer status.
FAQs
How many followers do you need to become a social media influencer?
There isn’t an official set number of followers you need to become an influencer. The number of followers you need varies by industry. For example, startup skincare brands can invest in nano or micro influencers because of their tight-knit audience for brand reach. Known athletic brands like Nike can use athlete or celebrity sponsorships as influencers to help gain more brand loyalists for their products.
How much do social media influencers get paid?
The money you make as a social media influencer depends on your industry, how many followers you have, and the terms of your arrangement with the business paying you to promote their product or service.
What qualifies you as a social media influencer?
Most would consider you to be an influencer if you are paid to promote goods or services to your followers.
How can I get more followers so I can become a social media influencer?
A couple of ways to get more followers are to research and use popular and trending hashtags on your posts, seek out a mentor who is already an influencer in your field, start by becoming an influencer in a niche community and expand from there, and taking advantage of the full suite of features different social media platforms offer to maximize your exposure and grow your follower list.
Conclusion
Influencer marketing is the latest trend in digital marketing because social media influencers are now able to quantify their audiences.
What started as a hobby for many has become a big business, and influencers like PewDiePie often outearn celebrities, politicians, and other prominent professionals.
I’m an influencer today, but I wasn’t always.
Everyone starts at square one with no followers and nobody knowing who they are.
It’s the steps you take to build a following that ultimately determine how influential you are.
If you’re interested in growing your brand and want help doing so, reach out. I have a team of experts who can help you reach your influencer goals!
Who are the most influential people in your niche?
So what gives, and how can you push past a three percent conversion rate? E-commerce optimization is all about making it easy for your visitors to buy from you.
How do you do that? It starts with diving into your analytics to see where visitors are getting stuck. If that sounds complicated, don’t worry—I’m going to walk you through it.
First, however, let’s talk about why CRO is different for e-commerce websites.
How Is Conversion Optimization Different for E-commerce Stores?
The difference in average conversion rates is partially because a service website might have one or two steps in the checkout process, while an e-commerce store could have five or six – meaning it’s all the more important for you to optimize your CRO.
This means e-commerce stores need to pay more attention to the purchase process, from product pages to the checkout page.
E-commerce stores have unique friction points, such as shipping and returns, which can impact purchase decisions.
Because of this, e-commerce owners need to take a holistic approach to optimizing their stores.
This might mean looking for opportunities to increase customer confidence through social proof and streamlined checkout processes.
Ultimately, e-commerce owners should focus on creating a frictionless purchase experience to boost their conversion rates.
Similarly, shoppers that click on product recommendations are four and a half times more likely to add items to the cart and complete a purchase.
Amazon, for example, recommends products based on previous purchases or items you looked at. This helps keep customers engaged with the site and increases sales.
They also use “Frequently Bought Together” prompts to show customers related items they may like.
Recommending relevant products to your customers also improves the personalization of your e-commerce store.
86 percent of consumers say website personalization affects their purchasing decisions. This is an e-commerce conversion rate optimization tactic you don’t want to miss out on.
When customers can see what they’re buying and get an idea of how it will look and function in their lives, they feel more confident about the purchase.
Since your visitors can’t touch and feel your products, you need to make sure the media you use on each product page does them justice.
Make sure your photos are high enough resolution to support a zoom feature to show texture and details.
If you have the space, add a 360-degree view of the product so customers can get a complete look.
If your e-commerce store sells clothes or accessories, use models to show how the items look on various body types.
Besides images, consider using demo videos or explainer videos to show your products in action.
Remember, you don’t have to generate all the content yourself either.
Encourage customers to submit visual content or source your images and videos from social media, which perform double duty as social proof, which will help increase conversions.
Be sure to include all pertinent information, such as size, color, and fabric content.
Use clear and concise language to avoid confusion and highlight the unique features of your products.
E-commerce CRO Strategy #3: Streamline Navigation
You can’t make sales if site visitors can’t find what they want.
Your site’s navigation is often the first place shoppers look if they have a specific product or category in mind.
Navigation that is confusing, too complex, or difficult to understand will cost you sales and customers. In fact, a HubSpot case study found that simplifying or removing navigation elements from middle-of-the-funnel landing pages resulted in a 16-28% increased conversion rate!
There’s no one-size-fits-all solution for e-commerce website navigation. The best way to design a website menu depends on the nature of your products and how your customers like to organize information.
Here are a few steps for creating effective e-commerce website navigation:
Use heat maps or do user testing to find how and where users click.
Prominently display categories on every page.
Include clear labels and concise descriptions for all menu items.
Create intuitive and logical menus based on how your customers browse your site.
Avoid burying essential menu items in nested sub-menus.
Test different navigation structures to see what works best for your customers.
An example of great e-commerce navigation comes from Apple.
If you have a large number of products, a drop-down menu that lists everything can be overwhelming.
If Apple included all its products and services in a drop-down menu, its website would have very clunky and confusing navigation.
Not only would that work against the brand’s minimalist image, but it’d also be hard for customers to find what they need.
Instead, Apple opts for clean top navigation with no dropdown or secondary menu item:
When visitors click on a top navigation item, they’re directed to a menu page that lists options within the category:
Doing away with a complicated drop-down also helps streamline the mobile user experience, which is increasingly important.
Providing a clear path to the products customers are looking for makes it easier for shoppers to find what they need on your site—which increases sales.
This can help improve your search engine ranking, as Google (and other search engines) favor sites that are easy to navigate.
If you’re unsure if your site is easy to navigate, or have seen drop-off points in your analytics, consider using a heat map tool like Crazy Egg to see where people click on your pages.
You can also use a tool like Optimizely to test different versions of your navigation and see which one leads to more conversions.
Once you’ve identified any potential drop-off points, it’s time to start making changes!
E-commerce CRO Strategy #4: Add a Wish List or Favorite Option
Wish lists and favorite options allow users to save items they might buy later.
This is a great way to increase conversions because it gives users the opportunity to “test drive” your site and come back later to buy products they love.
Creating a wish list also requires customers to create an account for your e-commerce store.
This allows you to offer relevant promotions and gather customer data to improve user experience and increase sales.
Wish lists can help you:
alert customers about special offers available for items on their wish lists
deliver targeted content based on items they’ve shown interest in
identify retail trends and seasonal activities to improve demand forecasting
understand what your customers are looking for and offer similar products
Research from Google found 40 percent of online shoppers think their experience would be better if they were offered a wish list.
In addition, make it easy for your customers to create wish lists on other platforms. For example, enable “Pin It” buttons so visitors can share your products on their Pinterest wish lists.
Or, promote the use of the “Save” feature on Instagram and Facebook.
There are many ways to make it easy for your customers to save products they are interested in.
If you use Shopify as your e-commerce platform, you have two options for adding a wish list feature: add custom code to your site, or add a wishlist app, like Wishlist Hero.
On BigCommerce, all you need to do is enable wishlists in your shop’s settings.
WooCommerce offers an extension so you can allow users to add items to their wishlist when they shop your store.
E-commerce CRO Strategy #5: Streamline the Check Out Process
To avoid losing customers at the checkout, make the process as quick and easy as possible.
This means offering clear and concise shipping information, providing a guest checkout option, and ensuring all payment methods are available.
You should also ensure the checkout process is easy to navigate with all required information requested upfront.
Here are a few ways to streamline the checkout process:
Use a single-page checkout: This will keep customers from going through multiple pages to check out.
Save billing and shipping information: Customers hate having to enter their information each time they make a purchase, so make their checkout process easier by saving and auto-filling their information.
Use a progress bar: Let customers know how far along they are in the checkout process so they don’t get impatient.
Offer a shipping calculator: This will help customers determine how much their shipping will cost and whether or not they want to continue with the purchase.
Personalize page to their local currency: Customers feel more comfortable when they’re making a purchase in their local currency.
Reduce clicks: Try to make the checkout process straightforward, so customers don’t get frustrated and leave.
Provide order confirmation: Once a customer has completed their purchase, send them an order confirmation to let them know everything went through successfully.
Include trust symbols: Add trust symbols like security seals to reassure customers their information is safe and their purchase is legitimate.
Remember, the easier you can make it for customers to buy, the more likely they are to convert!
E-commerce CRO Strategy #6: Add More (and Better) Social Proof
Social proof is one of the most powerful tools at your disposal to boost e-commerce conversion rates.
Adding social proof elements to your site increases confidence in potential buyers and nudges them towards completing a purchase.
reaching out to influencers for social content creation
promoting UGC on your social channels
Frequently Asked Questions About E-commerce CRO Strategies
How can I improve my e-commerce conversion rate?
To increase your e-commerce CRO, consider adding recommended products, making sure your product pages shine, implementing simple navigation, providing a wish list option, streamlining the checkout process, and adding social proof.
How are e-commerce conversions calculated?
E-commerce conversions are the total number of visits to your e-commerce site divided by the number of purchases.
What is a good e-commerce conversion rate?
The average e-commerce conversion rate varies depending on the type of product you sell but is typically around two percent. Some of the top e-commerce sites have conversion rates between 5 and 10 percent.
What is CRO in e-commerce?
E-commerce conversion rate optimization, or CRO, is the process of making adjustments to your site with the goal of increasing the percentage of visits that result in a purchase. In e-commerce specifically, CRO is focused on optimizing the product page, checkout process, and overall user experience.
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Conclusion: E-commerce Conversion Optimization
E-commerce conversion optimization is key to driving growth for your business.
While blogs and service sites rely on traffic from search engines and social media, e-commerce sites need to optimize SEOand every step of the buying process.
When starting an e-commerce conversion rate optimization strategy, start by looking into your customer data and website analytics. Use heat mapping tools to see where customers are clicking and what they scroll past.
Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission.
Making a website has gotten much, much easier over the years. It’s cheaper, faster, and more straightforward than ever before.
But what do you really need to build a website?
A stable internet connection and an hour or two of your time is plenty.
You don’t need any web development experience or tons of money, don’t worry.
In this step-by-step guide, I’ll teach you how to make a website from scratch in just one afternoon. Just follow my tactics below to avoid the mistakes I made when I was starting from ground zero.
Your 2-Minute Cheat Sheet
Here’s your quick-start guide to making a website. This section won’t cover the details–just the crucial steps–each step is broken down in more detail below.
Start by choosing the right web host. We highly recommend Bluehost for speed, reliability, and ease of setup. It only costs a few bucks a month, and it’s got everything you need to make your first website look professional.
Then you’ll need a domain name that represents what your website is going to be all about. A .com domain name is best because it helps you earn brownie points in the eyes of visitors.
One reason I like Bluehost so much is that they throw in a free domain name for the first year. That saves you some cash and the extra step of having to go through a domain registrar.
Once you’ve registered your domain name, choose a content management system or CMS. You can consider WordPress, Joomla, or Drupal, among others.
I like WordPress the best and it’s what I use for my site. If you go with Bluehost, WordPress is a one-click install.
Boom, now you have a version of a website up and running. Congrats!
But you aren’t done yet.
Next on your list would be to market your business. Since branding is crucial today, you need to consider a logo, write your website copy, plan your marketing strategy, and definitely install Google Analytics.
Basically, the exciting stuff that you may know all about already.
Now let’s discuss how to build a website in more detail. Keep reading or jump right to the step you need help with:
Do you remember how your school library had those large categorized bookshelves?
A web hosting company is precisely like that bookshelf, while the library is the internet.
A hosting service provider or a web hosting company stores your website on a server, making everything you put up on your website visible on the internet and your visitors.
These companies offer monthly or annual plans on shared servers, dedicated servers, or virtual private servers, allowing you to choose a plan according to your security and support requirements.
If your website doesn’t collect or store personal or financial data, you can always select the basic plan. So, you don’t have to shell out a lot of money.
But how do you know which web hosting company or service is right for you?
Site Speed
If you want to earn money from your website, you need to get a stable and fast web host.
Fast sites have many things going for them. They rank better, help with SEO, and maximize conversions.
I would 100% recommend Bluehost, as it keeps loading time minimal and short.
That said, we would also advise you to avoid shared hosting or overly cheap services.
Shared hosting means you’ll be sharing your web server with thousands of other sites. In other words, hosting speed will be slow–plus, you may even end up sharing the server with spammy sites, which you may end up with you facing the brunt of Google.
As for skipping cheap hosting services, the rule here is simple: You get what you pay for.
The level of security, speed, and uptime wouldn’t be as great when you pay $5 per month, especially when you compare it to plans costing more than $120 per month.
I’m not telling you to buy the most expensive plan–just avoid the cheapest hosting.
Uptime Dependability
Your web hosting service should always operate properly. Otherwise, no one can access your website.
A good hosting provider provides you an uptime guarantee–something like “We offer a 100% network uptime guarantee” or similar claims.
For instance, if a hosting provider tells you 99% uptime, your site can be down for 3.5 days a year. But providers offering 99.99% or 99.999% will have about one hour and five minutes downtime, respectively.
Look for a provider that offers a guarantee for insurance. If your website goes down, you can be compensated with hosting credits.
Customer Support
You’ll need quick and efficient backup support when technical difficulties arise. Chat, email, or telephone – there are various support methods. In my experience, though, email is the absolute worst. It’s much better to receive support by phone or live chat.
Choose a hosting provider that offers 24/7 support. This way, you’ll be able to get your business back online if something goes wrong within minutes.
You should also check your service level agreement (SLA) to get an idea of the kind of support you’ll receive. Looking at the company’s website will give you an idea about their support team too.
Definitely go with a host that offers you a free trial period–it’s the only way to get a real sense of the service you’re going to get. Even if you don’t need help, hit them up a few times during the first 30 days. See how quickly they get back to you.
If your new host is slow to respond, the quality of service is probably not going to improve. That’s why the free trial is so important. Bluehost lets you cancel for free within the first month if you’re not happy. DreamHost offers a 97-day money-back guarantee.
Scalability
Scalability is vital for two reasons. First, a hosting provider should grow organically with you, enabling you to upgrade when needed. Second, your website should be able to handle massive spikes in visitor numbers.
Consider the following questions to understand whether your web host is flexible:
Will the web host upgrade you from an entry-level shared hosting plan to an intermediate VPS when your visitor numbers reach a certain level without any downtime?
How easy is this upgrade process?
Can the web host support seasonal fluctuations in web traffic seamlessly?
You should aim to get a solution that checks all three boxes.
Visit web hosting forums to learn about other people’s experiences with providers. Then compare services and prices to determine the right plan based on your needs and budget.
With a web host provider in place, you can move on to Step 2.
Step #2: Select a Unique and Relevant Domain Name
Don’t go looking for the perfect domain name–there isn’t one. Some names better than others, but ultimately, it’s a small part of your business. The content of your website remains most important.
A domain name is your website’s address on the internet. Mine is NeilPatel.com, and it reflects my personal brand. Yours can be anything you want it to be, provided it’s related to your business, topics that you want to write about, or your name.
The options are endless!
Following are a few rules of thumb to help you choose the right domain name:
Keep it relevant
Stick to short, memorable names
Avoid numbers
Choose a .com, .org, or .net
Make sure your chosen domain name is available
Find the perfect name is also possible using the following methods:
Method 1 – Brute Force Method
Many have the creativity to come up with the perfect domain name independently. If that’s you, you’ll need a domain name registrar to purchase the domain, and then search the availability of your prospective domain name.
Bluehost is a great place to start, as it gives you a free domain for one year with their hosting plans, and you can search availability.
I’ll also advise you to avoid going for domain names that have hyphens (like neil-patel-marketing.com) even when you get it at a dirt-cheap price. It can get confusing.
Method 2 – Use a Tool
Some of us are not very creative, and that’s okay.
If you get stuck when coming up with a domain name, try using name generators. Just enter one or two keywords, and the generator will look for ways to combine those words into a domain name.
In addition to speed and downtime reliability, Bluehost also allows you to check domain name availability. Visit the sign up now page and enter your domain name in the box, and voila! You’ll have a name.
Bear in mind that your preferred domain name may be unavailable. Try mixing up words, using a thesaurus, or adding a verb if it happens.
After you’ve chosen your domain name, you’ll next need a website building platform.
Step #3: Select a Good Website Building Platform or CMS
A quick Google search about website builders and CMS will leave you overwhelmed with the enormity of options.
CMS stands for Content Management System. It allows you to edit your website within the domain itself, helping you save tons of time and make everything way simpler. Customizing layouts, settings, content, creating new pages and posts, and so on, becomes easier thanks to ready-to-use website templates.
Here are a few options to consider:
WordPress. WordPress is number one when it comes to CMSs. It’s popular, user-friendly, and super easy to use. Moreover, the platform has over 58,000 plugins that allow you to do almost anything you want on your site.
Keep in mind that WordPress.com and WordPress.org aren’t the same. While the former is a third-party site that allows you to create free blogs, the latter enables you to download the WordPress software to install on a website.
Wix. Wix is another website builder that makes things super easy. If you need a site with just a few pages, like restaurants, local businesses, freelancers, or portfolio sites, this could be a great option. Their reliability (99.98% uptime) and security features (like 24/7 managed monitoring and optimization) give you peace of mind, as well.
However, if you want to build a large site, Wix may lack the advanced features required for large amounts of traffic.
Drupal. Drupal is the most advanced website building solution, which is why it has a steeper learning curve. Though when you consider the level of customization it offers, the hard work seems worth it.
While I don’t recommend Drupal for beginners, if advance customization is a priority on your list, this is hands down the best option. You can always hire an expert to learn the ropes of the platform.
You’ll now have a website up and running. All that is left to do is to make it look great.
Step #4: Design Your Website to Make It Look Awesome
For any website builder, you’ll have to install a theme. Themes can be free and paid, but the latter is more professional-looking and gives you more flexibility when customizing your website. They aren’t excessively expensive as well and can be bought for less than $100.
WordPress and Wix have some great free themes, but if you want to try out the premium variety, you can give StudioPress a shot.
Themes are built on the basic CMS but are customizable to give your website a unique look and allow it to function differently. After all, shouldn’t an artist’s website look different from a SaaS or a restaurant?
Visual representation is incredibly important as your visitors judge your website in a fraction of a second based on how it looks. If your site looks obsolete, untrustworthy, or doesn’t match their expectations, your visitors will be gone in seconds.
Luckily, choosing a good theme is easy.
I recommend reading reviews about the themes before choosing and never prioritizing visual appeal over functionality.
Yes, you want your website to look good with all those fancy fonts and colors, but that shouldn’t be at the cost of functionality.
Additionally, you can always change the theme at a later date. Just don’t change it frequently, as it will harm SEO and branding.
Step #5: Protect Your Website by Using a Child Theme
The best way to protect your website is to use a child theme. A child theme is a style sheet stored separately from the rest of your theme’s files on the webserver. Not only will it make your site hard to break, but it even protects you from redoing changes whenever you update a theme.
Keep in mind that different website builders have different names for creating a child theme.
You build a “child theme” in WordPress, but you create a “sub-theme” in Drupal. Also, some websites don’t allow you to create a child theme, but you can always make a duplicate theme to serve as back up, as in Joomla.
Step #6: Configure Your Website and Add Relevant Content
At this point, you’re done with most of the technical part and can now finally focus on the more interesting things.
Start by setting up navigation to make it easier for visitors to know what your website is all about and grant them easy access to different parts of your website. Choose a couple of colors to represent your site without going overboard.
For instance, I chose orange and white.
Organize, separate, and highlight the important areas of your website to make it eye-catching and clear. You can also install plugins to help your website function smoothly.
Here is a quick checklist of things you need to start marketing your business, especially if you want to earn money from the website:
Get a logo. This will represent your brand, so be very careful here.
Write your website copy, including the home page, About Me page, and other basic pages.
Install Google Analytics code to your website to keep track of visitors.
Start planning your marketing strategy to figure out your visitor’s likes and dislikes.
As for the last pointer, you’ll have to understand online marketing, content marketing, and the often neglected link building to gain visibility, generate leads, and achieve your business goals from your website.
Conclusion
Making a website does have its fair share of struggles, but the more experience you gain, the better you’ll become, and the easier it’ll be.
While we’ve covered all the necessary details for building your first website, if you find yourself getting stuck anywhere, you can turn to Google or YouTube to solve your problem.
Trust me, there are tutorials for almost everything out there on the internet.
Choosing a web host and CMS, designing your website, and marketing is just the tip of the iceberg. You can’t expect overnight success, but was just a bit of patience, you’ll see real progress.
Welcome to Your Guide to Steps to Building Business Credit in 2022
Do you want to know how to build business credit with EIN to get the financing you need to run your business? Your business setup is key. And records consistency matters. The steps to building business credit in 2022 are in this particular order for a good reason.
You Probably Need to Learn the Steps to Building Business Credit in 2022 if…
You’ve ever tried to get credit for your business but were turned down. Or you’ve heard of building business credit with EIN, but you don’t quite know where or how to start. Or you’re tired of bootstrapping your business and want it to start funding itself. And you’re ready to take your business to the next level.
Steps to Building Business Credit in 2022, Fundability, and Your Business
Business credit is credit in the name of a business. It relates to the company’s ability to pay its bills, and not the owner’s personal credit history. It is also a great way to start to get your business to pull its own weight and fund itself.
Your business’s bill-paying behavior is crucial to getting business financing at good terms, and if you can get business funding at all.
Steps to Building Business Credit in 2022 and Fundability
Fundability is the ability of a business to get funding. A lot of this power is in your hands. You can make life easier for your business and yourself, or not. Fundability is all about paying attention to details.
Continue the Steps to Building Business Credit in 2022 by Building For Fundability
A business starts with no credit profile. As a result, what’s on an application is all that’s reviewed for approvals. So your application must be strong. For businesses where the owners have poor personal credit, what’s on the application is also key. These businesses don’t seem Fundable to lenders, so build Fundability from the start. Laying a strong and proper foundation helps your business make it.
Business Name
We start with your steps to building business credit in 2022 with your business name. This is because it leads to so many other details. Check with your Secretary of State—a business name may have to be unique. Make sure your SOS has all necessary information for your company, and that it’s up to date and correct. You want to be in good standing with them, and your entity must be active. You must file annual reports and pay a fee each year to stay active.
Keep the name of a high-risk or restricted industry out of your business name. Your business can be Juan’s rather than Juan’s Consulting. There is nothing underhanded about this—it is open and honest. It can help prevent a denial from a lender.
Records Uniformity
A common reason for loan and credit card denials is the lender can’t find a business offline or online. So make it simple for lenders and credit issuers to find your business.
This means the business name on your application must match what’s online and in your Secretary of State listing. Yes, you’re going for a perfect match. Make sure it matches corporation papers, licenses, utility statements, and bank statements. Also make sure the business name and all other information is the same on every online listing you find.
This even includes using the word ‘and’ or an ampersand (&). Pick one and stick with it! Why? Lenders and credit issuers interpret differences as fraud. Keep records of where your business name is, to be sure you catch everything. And if you ever change your business name, make sure to change it everywhere.
Business Address
Your business address must be a real brick and mortar building. That is, it has got to be deliverable physical address. This can never be a UPS box or a PO Box. Some lenders don’t approve and fund unless this criterion is met.
If you want to look like a larger business than you are, use a virtual address. This can also be a good idea to hold meetings or interviews. It’s a lot more professional than doing this on your front stoop. We like Regus, Davinci, and Alliance Virtual Offices. But at least one credit issuer doesn’t accept virtual addresses.
EIN
Get a free EIN for your business at IRS.gov. Much like you have a Social Security Number, your business has an EIN. Use your EIN to open a bank account and to build a business credit profile. Take the time to verify all agencies, banks, and trade credit vendors list your business with the same Tax ID number.
Business Entity
To get financing or credit for your business you must have a business entity. Often, a corporation or LLC business entity gives you more credibility. And corporate entities by default reduce your personal liability. Other entities (like partnerships) don’t. This is because incorporating creates a separate legal entity. You must file this with the Secretary of State for your state. Make sure your entity is set up in the same state as your business address.
Industry and Risk
An early step to Fundability is setting the industry your business is in. Some industries are riskier than others. With traditional funding sources, added risk can mean stricter underwriting guidelines or even no funding at all. Risky industries tend to be where chances of personal injury or property damage are high. Or there are a lot of cash transactions, or the revenue stream is unstable. Or there’s a low barrier to entry (so owners may not be skilled or experienced). Weapons manufacturing, gas stations, and consulting all fill the bill.
Why Risk Matters
The biggest reason why risk matters has to do with funding. Lenders may hesitate to do business with high risk businesses. So, those businesses must find other solutions for financing. These can include crowdfunding, angel investors, venture capital, building credit for business and more. Still, a lot of businesses would rather work with lenders.
NAICS Codes
Choose NAICS codes for your business at the IRS website. Federal statistical agencies use these codes to classify business establishments. This is to collect, analyze, and publish data, on the American business economy. NAICS codes also identify businesses which are high risk. The IRS, lenders, banks, insurance companies, and business CRAs use them. Note: the NAICS list of high risk industries is old and there are no plans to update it.
Of course you want to be honest when choosing your NAICS code. But if more than one can apply, you need not choose the one that’s higher risk. So it pays to check and be careful when choosing. If only high risk codes work, you can change your business, to match a related but lower risk code. There is nothing underhanded or dishonest about doing this.
Business Phone and 411 Listing
Toll-free phone numbers are best. Lenders see them as a sign of business credibility. For a single owner with a home-based business, this makes the company seem bigger. It’s easy and inexpensive to set up a virtual local phone number or a toll free 800 number. Use VoIP (voice over internet protocol) to have the number ring on any cell phone or landline.
If you don’t want customers calling your home all day, don’t use a personal cell or residential phone as a business phone number. It also helps with Fundability to have a dedicated business phone number. Your phone number must have a listing with 411 for most credit issuers and lenders to approve you. Check if your record has a listing and make sure your info is accurate. No record? Then use ListYourself.net to get a listing.
Business Licenses
Contact state, county, and city government offices. See if there are any necessary licenses and permits to operate your type of business. Licensing requirements differ, depending on state, town, and industry. Being licensed builds credibility in your business. This can help you get more customers.
Web Domain and Professional Website
Lenders and credit issuers research your corporation on the internet. It is best if they learn everything straight from your corporate website. Not having a company website can hurt your chances of getting corporate credit. It should be professional, with helpful info for anyone finding your business online.
Buy web hosting from a hosting company. Your domain should be your business name, if possible. You need a company email address for your business. This email must be on the same domain as your website. Use a professional email address like yourname@yoursite.com. This is professional and helps your chances for approval from a credit issuer. Do not use Yahoo, AOL, Gmail, Hotmail, or similar kinds of email.
Business Bank Account in the Business’s Name
This is one of the more crucial steps to building business credit in 2022. You must have a bank account devoted to nothing but your business. The IRS does not want you commingling funds. Make accounting easier and reduce the risk of audit at tax time. Keep personal and business funds separate. A separate bank account makes it easy.
Being able to offer more bank account records helps you get larger business loans. It helps to increase your borrowing potential.
Business Merchant Account
Opening a business merchant account is a smart way to help your business. Now your business can accept credit and debit cards. Studies show that customers spend more if they can pay by card. This also increases your finance options. It tends to be more secure, too.
Get Set Up with Business Credit Reporting Agencies
To start really establishing business credit, go to D&B’s website and look for your business. If you can’t find it, get a free D-U-N-S number on the D&B site. A D-U-N-S number + 3 payment experiences leads to a PAYDEX score. You need a D-U-N-S number to start building business credit. Once in D&B’s system, search Experian and Equifax’s sites for your business. Now that your business is all set up, it’s time to start building business credit.
Steps to Building Business Credit in 2022 from the Ground Up
The steps to building business credit in 2022 lead directly here. Start with vendor accounts. This is a proven way to start building business credit. Each of these steps to establish business credit, and every credit issuer can help your business. It’s meant to help you qualify for business credit cards with EIN only that you’ll want to use. This isn’t building for the sake of building or to increase a number. These credit issuers have what your business needs to succeed. Keep building–your time in business helps.
Starter Vendor Credit
Starter vendors are open to working with most businesses, even startups. Make sure vendors report to the CRAs—many do not. Vendors that report do so within 60 days. They help you build your business credit profile and score.
Terms vary depending on the vendor, but they tend to be Net 30. This means you have 30 days to pay in full. At least one doesn’t accept virtual offices. And you often need a D-U-N-S and an EIN at least. But you don’t need collateral, good personal credit, or cash flow.
Business Credit Building with Vendor Accounts
One of the best things about vendor credit is that it’s often not from a bank. As a result, 31 CFR § 1010.230 (a 2018 federal regulation) does not apply. It requires that anyone in a business with at least a 25% stake or control must provide their Social Security number on a loan application. No Social Security Number means issuers must decide on your credit application with EIN instead of SSN. For any SSN field if you’re not including your SSN, don’t put ANY other number in there. That violates two federal laws!
Add payment experiences from three vendors. Once they report to business CRAs like Dun & Bradstreet, you start qualifying for more credit. But keep in mind, any cards issued by banks fall under federal regulations.
For starter vendors, check out our starter vendor research. And for the most up to date info, confirm on the vendors’ sites.
Business Credit Cards with No Personal Guarantee
As you build exceptional business credit and pay your bills on time, credit issuers trust you more. You get higher limits and better terms, and start to get business credit cards with no PG.
Retail Credit
Retail credit comes from major retailers like Staples. Buy everything from office supplies to power tools. Retailers check if business info is uniform everywhere and if your business has proper licensing.
There can be a time in business requirement. You may need to have at least a certain number of employees. You may have to meet a minimal annual sales amount. Terms can be revolving. You need at least 3 accounts reporting to business CRAs.
Fleet Credit
Use fleet credit to buy fuel, maintain vehicles of all sorts, and repair vehicles. Even businesses which don’t have big fleets can still benefit. These are often gas credit cards.
There may be a time in business requirement. But if your business doesn’t meet it, you may be able to instead offer a PG or give a deposit to secure the credit.
Business Credit Cards
Business credit cards are more universal-type credit cards, like MasterCard. Use them almost anywhere. These cards may even have rewards programs or offer other valuable perks.
Terms can be revolving. Often you need at least 14 accounts reporting to business CRAs. There can be longer time in business requirements. You may need to have at least a certain number of employees. Qualifying for bank credit cards means you can meet most if not all the requirements for other kinds of financing.
Beyond the Steps to Building Business Credit in 2022: A Quick Look at Business Financing
Incurring debt and then paying it back on time helps you build business credit. Startups tend to not qualify for bank loans or most SBA loans. But they may qualify for loans from alternative lenders. For startup owners with good personal credit, our Credit Line Hybrid is an excellent choice. You can build business credit and finance a business at the same time.
Our Credit Line Hybrid
A credit line hybrid is a form of unsecured funding. Our credit line hybrid has an even better interest rate than a secured loan. Get some of the highest loan amounts and credit lines for businesses. Get 0% business credit cards with stated income. Many report to business CRAs—build business credit at the same time.
You need a good credit score or a guarantor with good credit for approval (FICO score of at least 680). No financials necessary. Loans go up to $150,000. Note: some cards may report on your personal credit.
Monitor Your Business Credit at D&B, Experian, and Equifax
Yet another aspect of the steps to building business credit in 2022 is monitoring your business credit reports. Know what is going on to spot trends and put on the brakes if you must. If there are errors, you can dispute them. And you’ll stay focused on the process because business credit building never ends. But monitoring can get pricey fast.
Monitor Business Credit at D&B, Experian, and Equifax for Less
But there’s a solution! Did you know you can get business credit monitoring for all 3 of the big business CRAs, and all in one place—for less? Credit Suite offers monitoring through its Business Finance Suite (through Nav). See what credit issuers and lenders do. So you can improve your scores and get the business credit and funding you need.
Improving Your Reports
Paying off accounts on time always pays dividends, as does avoiding bankruptcies. Avoid lawsuits if possible. It’s always wise and helpful to be correcting errors as you spot them.
Use Your Business Credit History to Get Higher Credit Limits
Not every cardholder gets a credit limit increase if they ask for one. Credit issuers want to know you’ll pay them back. A good payment history assures a credit issuer that you’ll pay your debts. You’re less risky to them, so they feel they can extend more credit to you.
As you qualify for credit limit increases, you’ll get new offers for more credit. And as you continue to show how responsible you are in paying business debts, approvals will come easier. Credit issuers trust an ever-increasing business credit score.
Get the most favorable funding by paying all bills on time. This gets your business a PAYDEX score of 80. You’ll also get an Equifax Credit Risk Score of 90 or better. And you’ll get a good FICO SBSS score, driven (in part) by on-time payments and business credit history. For Experian, historical behavior (payment history) is 5—10% of the total score.
Steps to Building Business Credit in 2022: Takeaways
Business credit building is a process. Performing the steps in order saves time, money, and aggravation. Get the best scores by paying your bills on time, every time. And monitor your reports to spot errors and fix them ASAP.
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