December 19, 2018

When you’ve owned and operated as many businesses as Alliance President Peter Strack has, you know what needs to be done. Strack’s latest contribution to Forbes highlights the most crucial steps new business owners must take when first starting their business.

In the article, “Five Critical Tasks To Tackle For New Business Owners”, Strack aims to help entrepreneurs focus on what really matters. According to Strack, these critical items are to be completed in order to be most effective.

New business owner checklist

New business owners should:

  1. Understand their business’s value proposition and create buyer personas.
  2. Hire a lawyer for optimal business tax structure and liability.
  3. Brand their business in a manner that makes a good impression to their customers.
  4. Identify the best tools that will help run the business.
  5. Get their business listed online, more than just on social media.

Although checking these items off the list is necessary, it’s not necessary to spend a lot of money doing so. For instance, while hiring a lawyer may be expensive, Strack shares ways to offset that cost.

Writing a business plan maps out the business, and serves as a reminder of why it exists to begin with. Branding your business can be quick and inexpensive with online marketplaces like 99Designs or Fiverr. Free tools, like Google Drive and Trello, can be utilized to operate your business, as can free trials of more sophisticated software. Social media presence might be important, but also establish business profiles with relevant authorities like the Better Business Bureau.

Sharing his experience and advice with entrepreneurs is Strack’s way of empowering others to achieve their own success. He began his first business at 12 years old, and has been an entrepreneur since then. Strack’s years of experience in leadership, sales, founding businesses, and tech startups has given him a wealth of knowledge that he wants to share with others. He is honored to be able to share this with the Forbes readership.