How to Start a Business

There are five steps to starting a business. Each step in the process is vital. 

First step in starting a business. 

1 - Research; this is the most important part. Learn all you can about your market. Is there a real need for what you do. Study your competitors. How do they generate business, what products do they sell, what are there policy's, how do they advertise. Nothing will tell you more about your market than studying your competitors.

2 - Building it (what you need): First you will need to use the results from your research to create a Mission Statement". (It defines what you will and will not do). Then put together a Business Plan that lays out your strategy based on your research and Mission Statement. Remember, "No One Plans To Fail, They Fail To Plan". Then set up your business to function as required for full filling your obligations. Buy inventory, build a website, rent property. What ever you need. Just remember why most new business fail . It's not because they don't make enough money. It's because they spend too much. As I was once told. "As long as it gets the job done? Any damned old piece of junk will work.  

3 - Marketing: This depends heavily on your research. What are your competitors doing to reach their customers. Focus on the most successful competitors you have. Determine is your desired demographic watching TV, listening to radio, texting on social media or still reading newspapers? What time of the week and day is the best time to reach a "target rich environment". Don't get distracted by the media hype and showmen-ship, Focus on your message.

4 - Selling (close the deal) : Once you have your possible customers interest. Close the sale by addressing their needs. Don't focus on what you do (a major mistake of businesses) focus on what they need. Ask questions about their problem. Offer solutions on how you can solve it. Remember you are their friend that wants to help them. Not a snake oil salesman.

5 - Work The Business : This is where you earn your money. Up to this point you haven't had total control of the process. Here is where it's all on you. Pay attention to details. "Good enough" is never "good enough". Finish the job like a professional so you can ask for a referral. New businesses need all they can get. Don't expect perfection from yourself... Demand it!