Take steps toward your own business

At OCCU, we’re experts on small businesses. Aside from building and growing our credit union, we’ve helped countless members with their businesses in the Pacific Northwest. Our team can offer practical advice and resources that will help you make your dream a reality. We can assist you with many aspects of your business, including choosing the right business services from OCCU. To make the most of your time, think about each step before we meet. By familiarizing yourself with the process, we’ll be able to review your plan and focus on each detail. 

As you think about starting a business, whether alone or with a family member or friend, it’s important to review different business models. Depending on your circumstances and needs, you may have several options such as a sole proprietorship, a partnership or a limited liability company, or a corporation. To start, review these steps.

1. Build a plan for your business

Every new business begins with a business plan. Start by writing a description of the business you want to run. Include details that capture a clear description of what you want to do, how you intend to attract customers or clients and what you hope your business will look like three to five years from the start date. Think about names and the atmosphere within your business. Consider how you’ll measure growth and progress toward your goals. Don’t rush this step – it’s the most important one.

2. Consider different business structures

As you think about starting a business, it’s important to review different business models. If you’re creating your business alone, you may be best suited for a sole proprietorship. If you’re opening a business with a family member or a friend, you should consider a partnership or a limited liability company. If you aren’t interested in running your business yourself, you may be interested in a corporation.

3. Location, location, location

Location can make an enormous difference in the success of a business. A good location for a coffee shop may not be the best spot for a boat builder. Before you choose a location, think about your business and your prospective customers. You should also take into account things like parking, foot traffic and nearby businesses that may compete for your customers.

4. Meet with an OCCU representative

At OCCU, we’re experts on small businesses. Aside from building and growing our credit union, we’ve helped countless members run businesses around Oregon. Our team can offer practical advice and resources that will help you make your dream a reality. We can assist you with your business plan, your business structure, registration, picking a location and choosing the right business services from OCCU. To make the most of your time, think about each step before we meet. By familiarizing yourself with the process, we’ll be able to review your plan and focus on each detail. Give us a call at 800.365.1111 or stop by your local branch to talk about what we can do for you.

5. Spread the word

Once you’ve got your business planned and registered, it’s time to get the word out to prospective customers. Start by building a website and joining social media networks. The more you can make people aware of your business, the more likely you’ll be to start off on the right foot. So think about everything from offering coupons to hiring a small advertising team to let people know about your new business.