I accidentally stumbled into the wild world of business a year and a half ago. It wasn't exactly the plan, but when our old pal COVID reared its ugly head and chopped my income and hours in half, I had to think on my feet.
Paired with my best friend (who conveniently happens to be an incredible graphic designer), we decided to put our brains together and brew a business that could serve a whole heap of lady startups who were looking for help with their branding and content.
In one afternoon, during a meme-stuffed back and forth on WhatsApp, we made it official by deciding on the name 'Studio Wednesday' — a rom-com-cute nod to the day we first met.
As a total business noob, I thought we'd knocked off the biggest and trickiest milestone of deciding what we were going to be called. I rewarded myself with a coffee, and thought, 'how cool, I'm now officially a business owner'.
... except, I wasn't.
Because, turns out, there's a whole heap of very important, serious and legally-binding things you need to tick off before you can actually call yourself a business owner and function as a legit company.
This tick list at the time was a big, blurry mess and my co-founder and I found ourselves running into hurdles in those first couple of months, because we definitely weren't doing things in the right order. Or any order at all, really.
BUT 👏 I 👏 DON'T 👏 WANT 👏 THAT 👏 FOR 👏 YOU.
So I'm going to retrospectively walk you through the right order of very important things you need to do when you're starting a business. There will be a hearty mix of mushy emotional decisions and do-this-to-avoid-accidentally-going-to-jail tasks to tick off, so grab a large cappuccino and let's get into it.
1. Once you've decided on your business name, register it as an official Australian business.
This is the digital-business equivalent of sticking a flag in the sand and claiming that patch of land as your own. It marks that this name is yours, and it's the official name of your Australian business.
It's really easy to do, you just need to head to ASIC and follow their steps — but I will flag one thing first. Sometimes your business name that you operate with may be taken already. Ours was, and so we had to think of an official alternative to roll with. We opted for 'Studio Wednesday Corp', and I recommend doing something similar if you hit the same hurdle. Pop a 'Co', 'Corp', or 'Pty Ltd' at the end if you need!