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How to Start a Business---in 50 Steps

April 25, 2017

How to Build a Company in Fifty Steps

 

A summary of an article at https://www.entrepreneur.com/article/252811

  1. Be inspired.

  2. Have a passion.

  3. Educate yourself.

  4. Generate an idea.

  5. Do preliminary research on your idea.

  6. Talk to others.

  7. Develop the idea. Brainstorm!

  8. Research and start a business plan.

  9. Determine your target market.

  10. Come up with a financial model.

  11. Come up with an operations model.

  12. Come up with a staffing plan. Who is on your team?

  13. Come up with a sales and marketing plan

  14. Come up with a growth plan. How will you scale your business?

  15. Decide on a legal structure for your business.

  16. Determine what you need to start.

  17. Objectively analyze the risks you are taking.

  18. Invest yourself full-time in your new enterprise.

  19. Secure capital.

  20. Seek resources and aid.

  21. Scout for potential clients and target companies.

  22. Create your business name.

  23. Don’t forget about your tax responsibilities.

  24. File for state and local taxes.

  25. Obtain any necessary permits or licenses.

  26. Recruit one or more mentors.

  27. Find your key office locations.

  28. Establish a unique brand.

  29. Start building a personal brand.

  30. Create a test product, test service, or prototype.

  31. Establish key vendors, contractors, suppliers, and partners.

  32. Learn and apply your employer responsibilities.

  33. Hire your first employees.

  34. Create a human resource plan and company culture.

  35. Start selling.

  36. Launch a website and an online presence.

  37. Outline and begin a digital marketing plan.

  38. Network everywhere you want to go.

  39. Find at least one dependable long-term client.

  40. Use promotions and discount to attract new customers.

  41. Use customer feedback for a revised round of products or services.

  42. Expand the team. Bring in people who can help you reach your goal.

  43. Tweak your operations to become more efficient.

  44. Ensure you cash flow remains positive.

  45. Scale your business strategy. Do more.

  46. Scale your marketing strategy. Reach further.

  47. Invest in infrastructural improvements.

  48. Learn more about your industry.

  49. Become a thought leader. Establish yourself as an authority.

  50. Evaluate your progress thus far, and adjust your business plan.

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Ed Lawrence                       

ed-lawrence@getstart-ed.com

Natick, MA                          

508.404.8630​

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