What Is the First Step in Starting a Business

The first step in starting any business is the planning. It is important to remember that before one can start any project that the planning procedure must be thought through to ensure a more successful outcome.

Before tackling on any project one must always remember that it is very important to plan things out first.

In business, there are several factors to consider and these are all depending on what type of business you plan on starting. List down everything you want to consider in your business, you will need to have a clear overview of what it is you want out of your business. Gather your thoughts and write everything that comes to mind on paper. It is not necessary to be neat with this initial stage as you will have plenty of time to sort out your ideas later on.

After you have drafted out the things you want to apply to your business you may now start on sorting them out accordingly. Read and reread through your notes and segregate them according to different aspects of your business, these may include long term goals, short term goals, products and services you wish to consider, the budget and how to finance your business, the design and layout of your business and so on and so forth.

By now after segregation of your notes you may come up with a clearer draft of what your business plan may look like. There are several other things that you may want to include in your business plan as your business progresses and with this you should remember to keep things as versatile as possible, open to new changes and advancements.

With all business plans is the necessity to keep things as legal and as law abiding as possible as to avoid any unnecessary conflict with the law. Therefore you should consult with a legal counsel such as a lawyer and discuss your business plan with him. There are also certain certifications that need be considered as well as licenses and registrations so make sure you go through every detail of your business plan with the proper authority and legal counsel. With this you must also be able to assess the finances of your business. It is either you have a clear cut of the amount you plan on spending on your business or you still need to canvass and gather data on what you want to spend. Either way it is best to assess all details of your business expenses with an accountant, this way you will be able to avoid any unnecessary expenditures.

Part of the business plan is the marketing and advertising plan. Take note that the business plan encompasses the entire pre business implementation stage and should therefore be in order before the building, construction and operation of your business. After you have considered this you must think of your target audience and the consumer market you wish to tackle. With this comes the brainstorming on the logo, the tagline, the visuals that your company will stand up for and other marketing credentials and advertisements.

1 Comment

  • nokukhanya said on December 28, 2010
    i want to start a business in environmental education, but i am not sure how to go about it, i need funding, legal information etc. I am in kwazulu-natal South Africa


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