I finally found a trusted engineer that I cut a personal check to, for the purpose of designing this innovative new changing pad. However, the goal was to keep business and personal affairs separate. My next stop was the Small Business Administration (SBA), I needed some advice on what I should do at this juncture. The SBA has very good tools for entrepreneurs and I recommend it as a good place to start. Their site is very user-friendly. The first step is entering a small amount of information about what type of business you are trying to launch and you’re intern provided with a basic roadmap of how to begin.
The first thing we needed was a name, this was surprisingly a challenge which took several months. We needed to ensure that name epitomized a baby industry, was available on a state level, did not have any alternate meaning and had an available website. Testing the possible business names with friends and family was very crucial. My family is critical in the best possible way so although the experience was humbling, all comments were intended to paint the company in the best possible light. Some frustration did come when we agreed on a great company name, only to find that the website was taken. I was very adamant about having a .com and wouldn’t settle for anything else. After about 30 suggestions and deliberations, ChéBébé was the winning candidate.
Once the name ChéBébé and website were secured we went through the tedious process of New State’s red tape to registering the business. If anyone is interested in the process of setting up a New York-based business, please leave a comment and I would be more than happy to elaborate in a different post.
Once the business was set up with the state, ChéBébé needed a bank account to keep business and personal finances separate. I had already paid all state fees as well as the engineering deposit from my personal account and wanted to ensure that moving forward I was doing everything possible to keep finances separate.
I still remember the day I walked out of the bank with my business checkbook and accompanying account information. My commitment to adding useful items to the baby market with ChéBébé brand products was legit.
Circa: May 2017