How to start your business, tips steps

H O W T O S TA R T Y O U R B U S I N E S S
THE STEPS TO SUCCESS

B Y: G E O F F R E Y B Y R U C H - E N T R E P R E N E U R


THE CALLING
• Some people call it a calling. Others

call it the only option. Regardless of
how you put it, there are thousands
of people all across the nation taking
a leap of faith and starting their own
business.
• This is a very difficult and arduous

task that requires hard work,
determination, and perseverance.
• But for those who survive beyond

the bleak months or year of pain and
failure, they will find themselves at
the end of the tunnel reaping the
rewards on their road for success.


INTRODUCTION
• Starting a business and becoming an entrepreneur is

not easy. It takes a special kind of person to overcome
the obstacles of failures and go surpass the ideas of

settling when looking for success.

• If you are still interested in starting a business, here is a

guide that will aid you throughout the process. These
six steps will help pinpoint the dos and don’ts during
the beginning stages of your journey.


PLANNING AND DEVELOPING
WINNING IDEAS
• The next big idea is what drives a business in the first

place. Every business begins with an idea. They can be
something you are passionate about or they can be
something that can change the course of everyday life.

• Remember, Google and Apple didn’t just come out of

nowhere. They came from products, or even problems,
that have were the markers for their great creation.


THE WINNING
IDEA
• Once you have picked and assessed

your idea, it is important to see the
strengths and flaws of pre-existing
companies within the chosen field.

• Understand their take on your

concept.
• Figure out what they were missing

or what you can do better, faster,
and cheaper. Reflecting on those
concepts will allow you to eventually
market this concept into a full blown
business.


C R E AT E A B U S I N E S S P L A N

• Every great business has planned out the logistics and

objective of their overall company.

• Remember, your company is a novice in comparison to

both relevant organizations and competitors. At this
stage, it is important you iron out some important
questions that will later need answers when you fully
establish your business.


C R E AT E A B U S I N E S S P L A N
• Take into consideration these questions when writing your business

plan. Try to get a holistic view of what you are expecting from your

company, your company’s goals, and your financial status:
• What are your company’s objectives? What are you trying to do?
• Who are you trying to sell to? What are your goals?
• How much money will you need to start up? How much money will you

need for the campaign?
• How many employees will you need to get this off the ground?
• What are you planning for advertising?
• What are your projections for month three, six, and twelve?


ASSESSING
YOUR FINANCES
• Like the famous saying goes,

everything comes at a price.

• Besides your time and effort,

there are costly expenses
when building up a startup.

• Assess your business plan and

identify how much you are
going to need to cover these
immediate expenses will play a
large role in how your business
is running by month three.

STRETCHING THE DOLLAR
• The idea of ‘stretching out your dollar’ will be the best

mentality to embrace when launching your business.
• By having a well thought-out business plan and a deeper

understanding of your finances, you can leverage these
expenses.
• If the expenses are more than you anticipated, take a look

at commercial loans or investors. Make sure at this point
that your business model is already developed and know
what you will use that money prior to any investor meetings.


REGISTER YOUR
BUSINESS
• When registering your

business, make sure you have
decided on what kind of
entity and field your business
is in.
• There are certain legal and

structural logistics you need
to file, especially in your taxes.
Once you have determined
the type of business you have,

register on the SBA website.


BUILD YOUR TEAM
• Now that you have established your idea, created a

business plan, planned out your expenses, and
registered your business, it is now time for you to think
about the managerial aspect of your business.
• Here, think about the type of people you want and the

skills they need to have to help thrive your business.
• Having a grasp of the people you want will ultimately

put you at pace if growing your business.



GROW YOUR
VISION
• Here is the stage where you

have now established the
team, finance, and idea for
your startup. What you need
to do at this stage is be a
leader. Allow your team and
company to run on a longterm vision and goal. Make
sure you have internalized this
goal so that no matter whom

you talk to, everyone is on the
same page for success.