How to start a business in 12 steps
Running a business can significantly impact your life and the lives of those around you. But before you can run a business, you need to learn how to start a business.
Deciding to start your own business can seem like a daunting prospect if you’ve never done it before. Luckily, plenty of other entrepreneurs have, and you can benefit through the wisdom they gleaned from their successes—and their business mistakes.
When should you start a business?
There’s never a specific right time to start a business. Learning how to own a business is like starting a relationship. You should start a business when you have the time and attention to commit to it. However, there’s no problem with starting a side business while you are still working another job.
These 12 time-tested steps on how to start a business—whether it’s your first or your 10th—will help you with everything from finding and validating your money-making idea to figuring out your shipping strategy to finally launching your product or service.
12 Steps Founders Encounter on Their Entrepreneurial Journey
1- Find a business idea
2- Choose a business name
3- Validate your product idea
4- Write your business plan
5- Get your finances in order
6- Develop your product or service
7- Pick a business structure
8- Research licenses and government regulations
9- Select your tools
10- Find a business location
11- Plan workload and team size
12- Launch your business
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