Have you always wanted to break free from your corporate role and turn your creativity into a money-making business? If you’re nodding your head, then it may be high time for you to make the switch from being an employee to becoming the owner of your own marketing company.
Owning your own marketing firm gives you the freedom to chart your course, work with exciting clients, and make a difference in startups. However, getting your marketing company off the ground and making it profitable will present challenges — unless you have the right guidance.
Fortunately, we at Drafted Legal are here to break down the steps to starting your successful and lucrative marketing LLC. We’ll cover everything from starting your company to acquiring clients and talent.
So, read on to find out how you can start making money with your own marketing LLC.
Starting Your Marketing LLC
Before diving headfirst into the world of marketing, you must build a strong foundation. We mean starting your marketing company by registering it as an LLC.
“Why as an LLC?” you ask? This is because an LLC is a legal structure that offers numerous advantages, including liability protection and flexibility in taxation. As an LLC member or owner, you’ll enjoy asset protection and pass-through tax benefits.
When starting your marketing LLC, follow these steps.
1. Choosing a Name
Naming your business is the first step to establishing a brand and is a prerequisite to registration.
Once you’ve decided on a name, check if it’s available and not in use by any other business. To find out if the name you want is available, follow our legal checklist guide.
Once you see that no business has the name you desire, you should kickstart the LLC registration process immediately.
2. Register Your LLC
You can do this DIY, with a reputable online service like Drafted Legal, or with an attorney.
To register as an LLC, you must follow all the instructions given by the Secretary of State. These requirements will vary from state to state. However, two that will pop up will include your business plan and organizational structure.
Drafting both can be challenging. Luckily, we at DraftedLegal offer an LLC startup kit that’s easy to fill in and accepted by all Secretary of State offices.
Once you’ve filled out the startup kit, we at DraftedLegal can also file it and register your LLC in as little as seven days.
3. Get an Employer Identification Number (EIN)
An EIN is essential if you’re hiring employees or contractors for your marketing company (which you likely will). It’s also used by the Internal Revenue Service (IRS) to identify your business for tax purposes.
Getting an EIN is easy. All you need to do is visit the IRS site.
4. Get a Business Bank Account
Your marketing LLC needs a bank account. This is where a business bank account comes in.
A business bank account helps separate your personal finances from those of your marketing startup. Getting one has several requirements, among them being your EIN.
You can choose any bank when opening a business bank account. Go with one that you prefer and trust.
Building a Brand
Now that your LLC is up and running, you can start making money in marketing. Making money begins with building your brand — and building a brand means creating a logo and a professional site.
Crafting a Logo
Your logo is the face of your marketing business. For this reason, enlist the services of an artist or graphic designer to help you come up with a logo that resonates with your target audience.
Build a Professional Website
In the marketing industry, a website is non-negotiable. Your website is where potential clients will learn about your services, see your portfolio, and contact you. Ensure that your site is user-friendly, mobile-responsive, and optimized for search engines (SEO) to maximize your online visibility.
If you lack the skills necessary to build a site, you can seek the services of web design firms that specialize in creating business sites. These firms can optimize your site for SEO, responsiveness, and mobile-friendliness. They can even help you add your first batches of site content if you haven’t hired a writer or content creator yet.
Important: Have Contractors Sign Agreements
Unless you’ve hired them, graphic artists for your logo and web designers for your site will be independent contractors. Since they’re contractors and not your employees, you need to have something in black and white to protect you and your business from liabilities and subpar work.
This is where an independent contractor agreement comes in.
An independent contractor agreement outlines the responsibilities of your contractors. It also contains other details like those involving payment.
Drafting a contractor agreement is best done with an attorney. However, you can shorten the process by simply using one of our pre-drafted independent contractor agreement templates.
Choosing Your Market
Marketing is broad. If you wish to stand any chance of making money in marketing, you need to specialize in one area or market.
Selecting your field of specialization involves two things: picking your niche and identifying your target clients.
Choosing Your Niche
Instead of trying to be a jack-of-all-trades, focus on a specific niche within the marketing industry. Specializing in an area you’re passionate about and knowledgeable in will help you stand out and become an expert in your chosen field.
Identifying Your Ideal Clients
Define your ideal client personas. Understand their pain points, goals, and demographics. Tailor your marketing efforts to attract and serve these clients effectively. The more you align with your ideal clients, the easier it will be to land lucrative projects.
Marketing Your Business and Bagging Your First Clients
With your niche and target market in mind, it’s time to explore strategies for acquiring clients and generating revenue.
Networking is a powerful tool in marketing. Attend industry events, join online forums, and build relationships with potential clients and fellow marketers. Word-of-mouth referrals and recommendations can be your most potent sources of clients.
Online Advertising and Paid Marketing
Consider using online advertising platforms like Google Ads and Facebook Ads to reach a wider audience. Investing in targeted advertising campaigns can help showcase your services to potential clients actively searching for marketing solutions.
Content Marketing and SEO
Content marketing and search engine optimization (SEO) are key to attracting clients. High-quality content not only attracts organic traffic but also positions you as an industry authority.
Optimize your website for relevant keywords to increase your visibility in search engine results.
Price Competitively and Scale
Now that clients are coming in, you should offer your services at competitive prices.
When quoting fees to potential clients, be transparent and present the value your clients can expect. Also, to entice a client, offer service bundles that include several services for the price of one. You can also offer these to cater to different budgets.
As more clients pay for your services, you may want to expand your team or outsource specific tasks. Scaling your business can lead to increased revenue and efficiency. Ensure that you have the necessary systems in place to handle growth seamlessly.
Be Lucrative and Legal With DraftedLegal
Making money in marketing may not happen overnight. However, it’s 100% achievable, especially after you’ve registered your marketing LLC.
To aid your business every step of the way, we offer comprehensive documents that cover everything from business registration to contractor and employment agreements. Our pre-drafted templates not only streamline your processes but keep you compliant too.
Start making money in marketing and get your marketing LLC off the ground with DraftedLegal!