Starting A Business 101: Steps 1-3

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Welcome to the first official post on the mini series Starting A Business 101. Here we will be discussing the first three steps that it takes to start a business.

Step 1: Identify Your Business
This is one of the most important steps, what will your business be? So ask yourself, “What am I passionate about? Helping others? Taking care of animals?” Write down ideas about those passions and what your strengths are in each category. Do research to see if those opportunities are out there or if you might be entering an industry that is slowing disappearing.

Step 2: Build A Business Plan
This is a very important step that many start up companies ignore because it is very time consuming. Having a business plan will allow you to have a better understanding on your industry, what competitors are doing and the finances needed to start your business. Two great books to help get through this step are "Business Plan In A Day" by Rhonda Abrams or "Business Plans For Dummies" by Paul Tiffany & Steven D. Peterson.

Step 3: Finding Money To Fund This Business
This will be different step for each company and each individual. Some companies might have a very minimal start up cost, while others could have a much larger amount. Most will need the necessary logo, business cards, website, etc. to begin but after that it varies. There are, however, different organizations that help start up companies. Each state and city is different but there are loans out there one can find. Don’t give up hope at this point. Rome wasn’t built in a day.

Please joing us in 4 weeks for Steps 4-6 in this mini series of Starting A Business 101!

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