Everybody will be entrepreneur if this is easy job, or easy profession. Starting a new business, or transition from dreaming into startup is not so difficult because you must to have good business idea, startup money, location and starting with legalization of the new business. And in that way you have your own new business. But after starting a business entrepreneurs are covered with real problems as a:
- Needs for customers,
- Needs for additional finances,
- Needs for additional time for working activities,
- Planning,
- Selling,
- Marketing,
- Financing,
- Managing
- Relationship…
Also, the startup process may to become one endless hurting process. This is because most business may possibly to stay forever in dreaming level – business idea creation process. Because of that here I will obtain 10 important steps for business startup process.
10 Steps for Business Startup
- Step 1: Encourage Your Creativity. Every business idea come from the brain of the entrepreneur. But, excellent business ideas comes when your creativity is at high level. You must to find ways how to increase your creativity for the purpose of business idea creation process. Your job in this step is to encourage your creativity and to come with more and more business ideas before go to the second step.
- Step 2: Analyze and Choose the best Business Idea. With your increased creativity you may to have dozens of business ideas. You must to have business idea book (You may to receive business idea book template if you subscribe to newsletter tips of Entrepreneurship In a Box.). Then you must to analyze every business idea about their possible market success. And, at the end of this process to choose business idea that have the biggest approval.
- Step 3: Make Market Research. You need to understand why persons are buying particular product and services and there are many different reasons about this. Some customers buy for one reason, another for another reason. Market research is an essential part of any business that wants to offer products or services on a particular market or market niche.
- Step 4: Required money. For every startup there is need for startup finances. You can’t start a business without money. The amount of required money will rely on the business type that you want to start. You must to apply research of the costs that will make your new business. With this step you will know how much money you’ll need and did you have that sum of money. If you don’t have it, you must to find solutions about needed money for the startup.
- Step 5: Business Name. In this step you must to choose your business name. This is may to look as simple process, but you must to know that the business name is first identity for every business. The name of your new business must to transfer to the customers an image of expertise, value and uniqueness of the products or services that will be offered to the market.
- Step 6: Business Plan. Now when you have the business idea, you know what the market need, you have money for startup and decide for the business name its time to make good business plan. Business plan will be your roadmap to your business success. In this level of the business startup process you may to have only some simple business plan as an blueprint with the activities that you must to accomplish in the next period of one to three years. Also you may to obtain some results from market research that you make in step 3. Beside this thing it is desirable to make cash flow analysis for your new business that will rely on the forecast of the spending and selling.
- Step 7: Location. In your business plan that you make in the previous step you obtained some aspects about budget that you have about location of your business and conditions that must to be fulfilled from that location. Now is time to research possible locations. In this step you must to analyze different locations about traffic patterns, available space, needed money and possibilities for long term agreement for the lease. When you finished with locations analysis you must to choose the best location.
- Step 8: Choose Accountant and Attorney. You must to choose good accountant and attorney that will work on bookkeeping, tax planning, laws, business form etc. This is very important tasks for every business and with choosing the right accountant and attorney you as entrepreneur may to work on tasks that is more creative for your business.
- Step 9: Choose Business Structure and all required licenses. Now in this step you must to legalize your new business, choose type of business structure and receive all needed licenses for the startup. You may to leave this job to be finished from your attorney and accountant because they have knowledge what is better fro you business.
- Step 10: Grand Opening. Now your business is prepare to start and in this step you must to prepare an grand opening for your business. In this step you must to plan your grand opening, invite people and celebrate opening of your new business. Grand opening may to be as your first promotional tactics for the next level of your business – SELLING, SELLING AND ONLY SELLING.
Now go through this steps and you will have your own business. If you want template for the activities about business startup you may to receive it as one of 10 business templates if you subscribe for entrepreneurship newsletter tips.
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{ 2 comments… read them below or add one }
better u add some more ideas
The best ideas come from an entrepreneurial creative mind. There are not templates of ideas that simply can be copied into successful business, or maybe exist but the entrepreneur is the person that implements that ideas in a different more valuable way.
I’ll be adding something about the process of sample ideas that can be used in building successful business.
Thanks for the recommendation.
Best Regards,
Dragan