Starting a small business is easy using our step-by-step guides.
Setting up your own business can be an exciting time. Before you start, saveyourself time and money by being aware of what’s involved in running abusiness. The 8 steps below will teach you how to start a business, taking you through each of the key stages of the start-up process.
How To Start A Business
Investing time into proper planning is key to turning your dreamsinto reality. Operating a small business is not just about working foryourself or working from home, it’s also about having the necessarymanagement skills, industry expertise, technical skills, finance and ofcourse a long-term vision to grow and succeed.
Step 1 : Create Your Business Plan
A business plan is anessential road-map for business success. This living document generallyprojects 3-5 years ahead and outlines the route a company intends totake to grow revenues.
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Step 2 : an idea.
Have a people who are bright and creative join you for acasual brainstorming session. Start with a simple question like: “whatshall we build?”. The idea is not to create a business plan, just togenerate some ideas. Need help? 7 Ways to Confirm If You Have a Great Business Idea.
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Step 3 : You can do it even if you start from home.
According to the SBA, 52 percent of all small businesses arehome-based and of the 28 million small businesses in the U.S., 22million of those are operated by people who consider themselvesself-employed they have no employees and no additional payroll.
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Step 4 : Define your goals.
Do you want financial independence, eventually selling yourbusiness to the highest bidder? Do you want something small andsustainable, that you love doing and want to derive a steady incomefrom.
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Step 5 : Create a Good working name.
you may find it helps you define your business idea. As yourplan grows, and things begin to take shape, the perfect name may come to you, but don’t let that hinder you in the early phases create a namethat you can use while you plan, and don’t mind changing later.
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Step 6 : your business location
Will your customers ever see your space?
How will your customers get there?
Will they have to park a car when they visit?
Can you work from home or will this negatively affect your personal life?
What kind of location matches your strategy?
Are you going to be hiring employees?
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Step 7 : Make it legal
This will include choosing and registering your business nameand choosing a business structure. Many small business startups willchoose between a sole-proprietorship, a partnership, and a limitedliability company. However, you can also start a corporation or anon-profit company.
Step 8 : Start the funding application process
Once you’ve figured out which is right for you, begin theprocess today! Do something at least. Call your bank, drop in to yourlocal SBA office, set up a Kickstarter page, research and approach anangel investor (email them at the very least) or ask for an introduction via someone you know.
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