So you want to start a business eh? Well, here is a brief “to do checklist” that should get you pointed in the right direction:
Step 1: Perform a detailed market analysis
This is one of the most important steps that you can take to ensure that your business will eventually be successful. You simply must do some thorough research to determine whether or not your business concept is a viable one.
In order to accomplish this task, you are going to need to spend some time talking to other business owners in your industry (including direct competitors), as well as potential clients. Be sure to verify that there is a solid and growing need for the services or products that you plan to provide before you proceed any further.
Step 2: Choose a business name
The name of your business should be unique (for marketability purposes), easy to remember and spell, and personal to you. In other words, it should be a name that you won’t mind saying or thinking about 24/7 for the rest of your (business) life. If you don’t “love” the potential name of your business, then you may want to consider choosing another name. After all, your business name will represent you, as well as your business, for years to come, so choose wisely.
Step 3: Choose a business location
Whether it be a traditional office or a home office; you must decide where to set up shop. Either way, be sure to follow all of the local, state and Federal regulations associated with forming a business entity in the location that you finally settle on.
Working at home can be a wonderful thing; however it can prove to be a real challenge if you fail to ensure that your “work environment” is well suited for the task (in other words make sure that it is spacious, quiet, clean, functional, and inspiring). Remember that a “home office” should be just as functional and comfortable as a traditional office space, and just as productive.