How to Start a Business

 There is no doubt that starting a business can be very rewarding and fun, however, it can be difficult and frustrating at the same time to get through all the processes. This article is designed to give you a simple and practical guide on how to come up with a business idea and put it into practice - step by step. It is not meant to give you exhaustive details at any stage; it is a guide.

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1. Come up with a business idea:

The idea should be unique and novel - a new twist on an old business concept - and must be something that you can get excited about. You need to come up with a business idea as a brand name alone is likely to get you nowhere. It must stand out from the rest in a positive way, and have great value to a niche market. You also need to think about the market it is meant to cater to - what are they interested in? - and it has to be something they are willing to pay for - they won't buy anything for free or very little value. You must think about the niche you are intending to go into - market research.

2. Define the market:

In defining the market you need to consider your own passions, skills and experiences. This may be something you have worked in before - something you have worked in before as a hobby. It may be totally new to you. This is crucial. What are you passionate about? What are you good at? What do you enjoy doing? You do not want an idea with an 'R' in front of it - you want a unique idea that you are sure people will want. Think about the market you are aiming to go into. This should be the first and foremost thing that crosses your mind. If you can't answer the second question of how are people going to get hold of this idea and what is the method, then you haven't come up with a good idea.

3. Come up with a name:

This is easy. You can pick any name you want. I suggest that you go back to your old business names and find something that makes you proud to say today. You may be thinking that you've forgotten what business you were in; what service you provided; what a product or service you provided. Do not worry about these things - ask your old colleagues and old friends. If you are thinking of creating a product or service and need help come up with a name that sounds modern and professional. Do not go for something that sounds like a product from ten years ago. Your product or service shouldn't be anachronistic. Make sure that it reflects your current ideas and reflect the market you are aiming to go into.

4. Choose a logo:

This is the second most important step. Find a logo that represents your initial idea. There are many ways to find a good logo - online directories, online search engines, online auctions, etc. I suggest that you not spend too much money on this - look for a logo that represents your initial idea. You may come up with a logo by searching online directories, an online search engine results or an online auction. You may not get a good logo right away. Once you have a logo that represents your initial idea then you will have a one of a kind logo that you can use. This is very important.

5. Choose a slogan: And a slogan for your product or service:

The slogan must be short and sweet. It must tell your potential customers what your products or service is all about - what your idea is all about. It must be short and sweet. I suggest that you keep your slogans around two paragraphs and that they are not more than twelve words.

6. Choose a company logo: 

This part is very important. Find a company logo that matches your initial idea. Make sure the logo and your chosen slogan matches - don't go for something too "different" for your idea.

7. Choose a company slogan: 

And a company slogan for your product: The company slogan should be the same as your initial idea. You will have to write this part out loud to others - "The product or service was developed by XYZ."

8. Write your business plan: 

This should be divided into sections. You must set up a basic outline for you to follow and you must write this out - it will save you a lot of time and money later on. You will also need to plan out your business and how you are going to start your business and how you are going to market yourself. All this needs to be in simple words which you can remember - as you know this from your initial idea.

9. Find a company partner: 

You should start looking for company partners as soon as you have an idea or at the least as soon as you have the logo or slogan. You will be investing money and time in a business together - it must be worth it. You may need to find a company partner that has a certain amount of capital.

Now your starting to get serious - you need to set up your business. You will need to set up a system for yourself - a system for doing things - for example, for registering your company, for running it, for hiring employees etc. Now you should spend quite some time on this, and you should not slacken off even once - you will need to set up your business system to take off when you launch and grow.

10. Market your business: 

This is the fun part - you will have to market your business hard. You need to write articles, write marketing materials, and you need to make sure everybody that comes in contacts with your business knows about it. You may have to spend money on getting your name known, but you will save time in the long run - if nobody knows about your business then it won't take off.

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All in all you now know how to plan and start off a business. Now comes the fun part - you will have to do it well, but it is a very fun thing to do - you are taking an unknown and taking steps into the Unknown together - and if you do it well you will be on your way to wealth.

To your success

Paul