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First steps to start a business

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Comments

  • AThompsonAThompson subscriber Posts: 10
    I know a few entrepreneurs and we've all talked about this at one point...

    Like it's been said before, each type of business is different therefore would require a different timeline/schedule of things, but this is basically how I'm starting my business

    - Figure out what kind of business you'll be starting up
    - Figure out if there's a target market for it
    - Find out the legal requirements for your type of business and take care of those
    - Focus on your target market and learn everything about them
    - Get the website up and running
    - Reach out to target market.

    I also make a checklist of everything I have to do to complete each 'task'. That helps me visualize how close I am to achieving my goals.

    Let me know how you go.

    Ashley
  • Jeff MarlonJeff Marlon subscriber Posts: 71 Bronze Level Member
    First you need to ensure that you have enough amount of capital to start a business. Then make sure through legal firm or lawyer to make you aware of all legal formalities.
  • OurbusinessladderOurbusinessladder subscriber Posts: 4 Member
    start with a business plan which includes your budget, targeted customers, development you are expecting, etc.
  • LAGIRL1994LAGIRL1994 subscriber Posts: 4
    I'm interested in starting my own business in the sphere of celebrity marketing... Is it possible, or I'll have a lot of competitors?
  • Ankita1234Ankita1234 subscriber Posts: 49 Bronze Level Member
    First of all, Decide your specific domain of interest and business in it. There is no issue if patent if your product is not standing in the market. Find the desired targeted audience then decide what you have to do.
  • elargirsolutionselargirsolutions subscriber Posts: 3
    GSmith wrote:
    It is great to have you all here! I am so glad I found the forum!

    My situation is: I am ready to start a business selling merchandise online. I don't have funds for a nation-wide campaign, so I am planning to start small, selling staff mostly on Amazon.
    I am already certain on what exactly to sell, and on brand look and everything.

    However, I am fresh new to business in general. So I am confused with the first steps order.

    I know that I need:
    - business name (check)
    - business logo (working on it)
    - decide to incorporate or not (I can start as a private seller, but really looking into business rather than part time hobby)
    - decide to register trademark/logo or not (need help with that)
    - find a supplier (working on it)

    My question is mostly What to do in Which order?
    Can or should I start as private seller and then register a business and transfer everything to a corporation?
    Should I register trademark and logo first or register business first?
    Can or should I register a trademark without business just to myself?
    etc.

    I'd really appreciate if somebody could layout for me the first steps in exact order. e.g:
    1. Get business name and logo.
    2. Order your goods and start selling as a private seller.
    3. Register business.
    4. Register trademark and logo.
    5. Etc.
    Or register business first?
    Please...

    Thank you a lot!
    I do appreciate any help!
    Yours G.

    Well, let simplify the steps as your business is going to be online selling.

    1- Before starting your business, research about the market, its competition in your locality and will the business brings profit for you(the reason we do business). For eg, Take online book selling as an example. First you should research which type of books you are going to business on it. Then you need to find the competition level in your locality, like in India, doing online book business is not a good business. So research on this.

    2- If you already did the above task, then its time to have a name for business. Remember, it would be wise decision to píck a name which is not registered and the domain name is not registered, because in future you need to create a website.
    Logo is not important at this step so you can be easy about it. After that, You can either register your business officially but I recommend not to do right now. You can take this step when you think your business is on the go and started selling.

    3- Now you should order your goods and start selling it on Ecommerce platform like amazon, flipkart. Don't create your own e commerce site right now. It will be waste of money and efforts. Sell on other platform and earn some profit.

    4- Now is the time to register your brand name officially. You can contact your lawyer and register it. You also will need a logo at this point, so be ready for it. Ofcourse you can re register the logo later.

    5- Do marketing, Create social media pages like facebook for your business, market there. and apply different strategies you can find here on startup nation.

    Mainly those are the starting steps you can take. Hope i was of some help.
    Elargir Solutions Private Limited (ESPL) is a Consulting Company and a trusted advisorsto leading companies and Brands.
    We have a history of working with marquee brands globally.
    We create value with our expertise in retail and our retail network.
    http://elargirindia.com
  • Sean RehmanSean Rehman subscriber Posts: 1
    I have a same kind of question. We are a group of professionals from the fields of accounting, finance and software ware. We have setup an office and are working on our website. The hardest part is finding the right prospects. We tried cold calling but that has not been very successful.. really running out of ideas..
  • alohasteph06alohasteph06 subscriber Posts: 7
    Sean,

    Are there three people in the venture? Where you working for a company in your field or a business that specialized in your field (i.e. Accounting Manager for a company vs. an accountant at a CPA firm)?

    What specifically are you offering?

    How is it priced?

    What organizations do you belong to?

    Do you have any clients? If so, what have they bought?

    Stephanie
  • PatriciaTaylorPatriciaTaylor subscriber Posts: 28 Bronze Level Member
    You need to build a nice business plan that includes all the basic steps such as market research and analysis, creating a website for business, financial planning, your target market, your marketing plan etc.
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  • mansishende123mansishende123 subscriber Posts: 46 Bronze Level Member
    Write a Business Plan
    Get Business Assistance and Training
    Choose a Business Location
    Finance Your Business
    Determine the Legal Structure of Your Business
    Register a Business Name "Doing Business As"
    Register for State and Local Taxes
    Obtain Business Licenses and Permits
    Understand Employer Responsibilities
    Find Local Assistance
  • McCandlessMcCandless subscriber Posts: 52 Bronze Level Member

    Any person, no matter their age, should really put in the effort to create a solid foundation for their business from the very start. If you already have you plan in place and conducted proper research to ensure that you have a place in the market, then you have to start on the organization and planning portion of business. This is an incredibly tedious process, but don’t be tempted to cut corners as it will likely impeded or totally crash your business before it even begins.

    So, where do you begin? It’s not really just one step, but rather the first phase.

    Planning is everything.

    Here is what you need to do:

    • Write a business plan
    • Obtain appropriate training and research to advance your business skills
    • Finance your business
    • Choose a legal structure
    • Register your business
    • Register appropriate taxes
    • Obtain licenses and permits
    • Establish an operations agreement for employees

    There’s a lot that goes into business planning and it’s not easily answered by doing just one single thing. Instead, it’s just making sure that your foundation is sound and that you are off to a good start.

    This may all seem overwhelming, especially if you aren’t really experienced in business. A startup attorney is an incredible resource that is worth the investment. Not only can they help you with all the proper filings and documentation, but they can serve as ongoing legal counsel for other aspects of business as yours develops.

  • Tom AdamsTom Adams subscriber Posts: 70 Bronze Level Member
    I need more information about your business idea 
  • Nick MNick M subscriber Posts: 3 Member
    Know any startup founders looking for funding?
    If so PM me for a new source of finance for startups...
  • gambitgambit subscriber Posts: 31 Bronze Level Member
    You can start in this order:
    1. Brainstorm ideas
    2. Build a business plan
    3. Assess your finances
    4. Determine your legal business structure
    5. Register with the government and IRS
    6. Select your technology
    7. Purchase an insurance policy
    8. Choose your partners
    9. Build your team
    10. Brand yourself and advertise
    11. Grow your business
  • NatashaGilbertNatashaGilbert subscriber Posts: 11 Bronze Level Member
    I want more details about business plan
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