1) So You Have A Concept – Research competition and market using Google search, Twitter Search, and Blog Search at Technorati. Set up Google Alerts and Tweetdeck alerts to monitor the industry keywords during your start-up. Don’t know the keywords? Use Google Keyword Tool to pick out the best ones.
2) Domain Name – Get a domain name based on what you are calling your project. Use GoDaddy – $10.00/yr. Try to get the “.com” or think of something clever using the newer endings such as “.ly.”
Go ahead and set up an email through GoDaddy using your new domain name. Either “Yourname@newdomainname.com” or “Info@newdomainname.com” and then forward this to your current email system.
NOTE: Be sure to check the Trademark Electronic Search System to ensure your name is not already trademarked and in use for your industry.
3) Get Twitter Name – Twitter – Free
4) Form single person LLC and get EIN for taxes (employment ID number) – LegalZoom – $150.00-$360.00 plus state fees. You don’t have to form your company under your project name. In fact, it’s almost better if you don’t so that you can launch other projects under your company name later without having to link to your first project name. Don’t worry about the operating agreement for now if you are operating alone, you only need an operating agreement if you have partners. If this is the case, look at some sample agreements found online and discuss with your partners which is the most appropriate. You don’t have to file the operating agreement with the State, it’s mainly to show how the partners interact with each other in regards to the business. If you and your partner(s) can’t agree you should reconsider working together or find a lawyer to help – expensive. (NOTE: you can actually wait on this step and see if your project is successful before forming a comany. Its important though to form a legal entity such as an LLC at some point to protect your personal assets in case someone sues you in regards to something that happened with your project.) Recommend reading Nolo’s Quick LLC. Another resource is here: Free legal documents for entrepreneurs.
5) Trademark Project Name – LegalZoom $200.00 – $500.00. Now that you’ve gotten your domain name and matching Twitter name, go ahead and Trademark the term so that nobody else can use your name. You can register your trademark now and select the option that you’ll begin use of it in the future. Just trademark the common lower-case version of your name.
6) Logo Design – 99Designs – $300.00-$600.00. Use 99Designs to prepay and pick a winning design from multiple samples submitted by top designers from around the world. This saves you the time of looking over portfolios to find a designer you think is right and also saves you from the possibility you won’t like their designs when they are completed.
7) Web / Application Pages Design – 99Designs – $600.00-$1000.00
8) Twitter Page Design – You can use something like Twitbacks or pay 99designs for something more professional – $100.00-$300.00
NOTE: Keep all branding consistent
9) Programmer – Place add on Craigslist for Ruby on Rails (RoR) developer in your local town. Bid project out based on designs – $4,000.00 – $7,000.00. Use a standard non-disclosure form if you’d like, you can find a standard form pretty easily by searching online. You can also propose a Joint-Venture with the developer to take equity as opposed to cash up-front to program your concept. Joint-Venture forms are available on Legalzoom as well or from one of their affiliates. RoR developers can build most web based projects. If you are going more specific like a Twitter API project or Facebook application, you may need to look for a specialist in that specific area. Elance.com is another venue for locating developers. Remember to negotiate and always counter-offer! To see some top sites built in Rails click here. For Ruby developers in the Nashville area, contact Josh Crews who runs the Nashville Ruby on Rails Meet-up Group.
10) Coordinate with your developer using Drop Box to share files – Free. Other resources are Google Groups/ Google Docs for coordination – Free. This is also a good time to write your business plan if you plan on seeking investment. Take your design samples that you have from 99designs and use them for visuals in the business plan. Nobody ever said a business plan has to be ugly, use your graphics to get your point across. There are plenty of resources out there for info on how to write a business plan. I recommend writing the plan yourself as opposed to outsourcing it to a business plan writing company. These things are a pain but if you write it yourself you can pitch it like a champion (because you wrote it!).
11) Set up Social Media using Ping. Use your project name and logo to register for all social sites and blogs listed in Ping including setting up a Facebook page. (You already should have a Twitter, if not – see step 3). Now you can post updates on your project to all these social networks at once using Ping.fm. Go ahead…create some buzz!
12) Host and test the website or application on a server, recommend Heroku – free on minimal server. Your developer should get all this set up for you.
13) Press Release – If your project is ready, launch it and submit your concept to appropriate industry blogs and review sites. You can outsource this to a PR Company or maybe just locate a good PR person on Twitter to help you out. Cost varies but it’s free to do yourself if you can write.
14) If the project takes off, good for you! If not, try a different one using the steps above except now you already have your company formed.
Cheapest possible = $5,370.00
Most expensive choices = $9,780.00
Social Media Applications 