One tip that has always proven valuable for my clients and I is to find an association, and look at the membership fees compared to the group buying power it presents. You can choose to become a member of more than one association to take advantage of their best deals. Don’t get me wrong, if you don’t fit into the association then don’t join, but buying power comes in numbers and any good business person should take advantage of this whenever possible, if applicable. Check with your local Better Business Bureau, AES, NSCA, NAMM or the SBA

After all of the above issues have been addressed and put in place, it is time to start the work that most small business owners hate - creating your business plans, marketing plans and budget. There are plenty of pieces of software on the market today that will help you get through this process. Although it will take some time and effort, they will serve as the right documents for you to be a real business. With a one year, three year and five year business plan, and budgets based on real world comparisons and averages, you will be prepared for any meeting you may need to have for financing, be it the bank or a venture firm willing to invest in your business.

Without your business plans and budgets, you will not be taken seriously. Virtually all investors or banks, unless your rich uncle is willing to help you, will need these documents. One other thing to consider before you go to the bank is whether or not you are willing to personally guarantee the amount of money you will be borrowing. The bank or investor may require that you put up your personal possessions, such as your house, land, etc., as collateral to secure the loan. With this in mind, please, please consider the ramifications that this might impose on you or your family.

Once you have sifted through the paperwork, it’s time to move on to the fun part of owning a business. Time to start the marketing and promotion of YOUR business. I have always loved this part of the business. Especially in the live audio market. There are so many chances for you to promote yourself, with little or no capital expenditure.

Marketing being one of the most important topics to the success of any business, let me suggest the book “Gorilla Marketing;” it is a must read before you move on to the three avenues that I think a new sound re-inforcement business should use.

The first marketing tool that I would suggest that you use is print. Many forms are easily done and produced in the comfort of your own home/office. My favorite three forms for a new company are business cards, brochures and post cards.

Business cards can be designed at home and then taken and printed at any Kinko’s, Staples or Office Depot. These are the only three rules for me when I think of a business card: 1) It must be concise 2) It must be informative and 3) It must represent your business to ALL possible clients, not just a “niche” group. Along with those three rules, I also decided some time ago that business cards are wonderful in two forms, one with your name and title, and also a generic one for your company, with no name, just the information. Your card gives you personal status and professional image to live up to, so please take it seriously. However seriously you take yourself in presentation, the client will have to consider you there, until something or someone proves otherwise.