10 Steps to Starting a Business

Whether you’re a creative mind who wants to sell art online, or the brains behind a future fortune 500 company, there are a few preemptive measures that every aspiring entrepreneur should take before starting a business. With so much information, technology, and resources available to utilize, beginning an independent career in the world of commerce has never been easier. However, it is not recommended to delve fully into your vision without taking the time to research, and understand exactly what it takes to establish a financially flourishing business. If you have the next billion dollar idea, or just want to make a little side-income with an online shop, save yourself the stress of wondering what’s next? Follow this guide to ensure that your business has ticked all necessary checkmarks before launch.

BrainstormIf you have an abstract idea as to what you want your business to pertain to, it’s important to thoroughly flesh out your thoughts before making any important decisions. Grab a piece of paper, flip open your notebook, and start by thinking through different aspects of what you want your future company to look like.

Develop a Business PlanIf you think your business idea is too small, or not serious enough to spend the time developing a full-fledged plan, you should reconsider. Not only does a business plan allow you to present yourself to potential partners and investors, it also gives you the foundation necessary to truly solidify the beginnings of your business, and ground the concepts of your vision.

Secure Proper Licenses & DocumentsTo avoid any legal trouble in the future, it is very important to learn what licenses your business needs based on the products or services you are providing. The same can be said for your taxes and insurance.

Register Your CompanyIf you want to be legally recognized as a legitimate business, it is required that you register with the government.

Create an Identity for Your BusinessWith a little creative planning (and maybe the help of a skilled graphic designer), developing a brand aesthetic can be a very simple task.

Establish an Internet PresenceAlthough this step isn’t absolutely necessary, it should be noted that any business not utilizing the internet is missing out big time on potential sales.

Choose Proper Business PartnersThis is possibly one of the most important decisions you may have to face in regards to owning and operating a business. Whether you’re a sole proprietorship, or planning to run a larger company, chances are you will eventually require the assistance of a business partner.

Build a TeamOperating an entire business on your own can eventually lead to burnout. It’s important to hire employees with different skill sets to take on different aspects of your company.

Keep Going & Continue GrowingAn entrepreneur’s work is never finished. Once your business has launched, and you start to see results (whether good or bad), it’s imperative that you continue researching, developing, innovating, and growing.

Improve Through Failure“Failure” is one of those words that most new entrepreneurs would rather not hear or think about in regards to their vision. When starting a business, the only thing you can hope for is success through hard work and determination.

ConclusionDon’t start a company without thoroughly understanding what is involved. If you try to launch a product or service without first checking off the requirements necessary for success, you are destined to find yourself drowning under the stress of disorganization, and unpreparedness. Do your research, make a plan, and follow through with your idea. Build a team, establish an identity, and grow from your failures. You never know how far your business idea will take you.

To read more on each step, read the entire post at: http://blog.boonle.com/10-steps-starting-business/