NorthStar Foundations

This course provides an actionable roadmap for entrepreneurs and small business owners aiming to launch, grow, and sustain a successful business. Participants will learn how to establish professional operations, nurture client relationships through effective email campaigns, and remain competitive through continuous learning.

Before you start a YouTube, Channel or create an app, you need to know what business you are running and how to manage your cash flow. Today, you will establish the foundational elements needed to start your business.

Every business needs a special number called an EIN. It's like a Social Security number for your business.

You need this number to:

Pay taxes

Open a business bank account

Hire workers

This lesson offers practical guidance for new business owners on establishing a professional virtual address and a robust email system. It highlights reputable virtual address providers and emphasizes the importance of using a custom domain email to build trust and credibility.

Remember, creating clear boundaries between your personal and business communications isn't just about organization; it's about building trust and projecting a professional image from day one. Act this week to set up your business phone system, and you'll be one step closer to a strong, credible business presence.

Before you can legally operate, your business needs official recognition. Forming a Limited Liability Company (LLC) is often preferred for its personal liability protection, safeguarding you from business debts and lawsuits (U.S. Small Business Administration [SBA], n.d.

Once you have identified your initial startup costs and secured funding, opening a dedicated business bank account is crucial. It separates personal and business finances, simplifying accounting and tax preparation (SBA, n.d.)

Your domain name is your online identity. It is crucial for branding and establishing your web presence. Before launching, secure a memorable and relevant domain name that aligns with your brand.

To accept payments, you will need a merchant account or a payment processing solution. Services like Square, Stripe, and PayPal make it easy to accept credit card payments both online and in person, often with simple sign-up processes and transparent fee structures. Alongside this, develop a clear pricing list for your products or services.

Building a business is not a solo journey—networking and attending business meetings help small business owners discover new opportunities, learn from others’ experiences, and form valuable connections that can open doors to growth. While stepping into a room of strangers might feel daunting at first, remember that every successful entrepreneur started somewhere.

Building business credit is a strategic move that can significantly benefit your company's future access to financing and better terms from suppliers. It is a distinct credit profile from your personal credit.

Email campaigns are a powerful tool for small business growth—they allow you to reach your audience directly, share valuable updates, and build lasting relationships. By sending targeted messages such as welcome, thank-you, and follow-up messages, you keep your business top-of-mind and encourage repeat engagement.

Continued learning is essential for small business owners to stay competitive, adapt to changing markets, and foster innovation. By regularly updating your knowledge and skills, you can identify new opportunities, respond to challenges more effectively, and implement best practices that drive business growth. Lifelong learning also boosts confidence and resilience, helping you lead your team with vision and adaptability.

A business consultant or mentor can serve as your strategic partner, offering invaluable guidance, insights, and a sounding board for ideas. They can help you navigate challenges, refine your strategies, and accelerate your growth. Look for experienced professionals in your industry or business stage.