Many aspiring entrepreneurs have the dream of starting their own business so they can say bye to their job. Starting a business is as challenging as running the business itself. I know that there are a lot of people out there who would want to start a business but really don’t know what they need to do to get started.
So, what do you need to do to start a business?
In this post, I will be sharing with you 5 important things you need to do to start a business and become a boss of your own. Though, what you really need are very many but these 5 things are the foundation to starting your business.
So, what are they?
1. Choose and Register a Business Plan
This is the first thing you will need to do to start a business. Depending on you, some people find it easy coming out with a business name while for others, it can be a tug of war.
Just have it in mind that your business name is an important part of your marketing effort, it is how the customers will perceive your business. So, make it unique and clear.
After choosing a name for your business, you will also need to register it under a business structure with the appropriate authority in your city. If you don’t and someone else starts using the same name to do business and the person register it, you will lose the right to operate business under that name.
You can register your business name under any of the following;
• Sole Proprietorship
• Limited Liability
• Partnership
• Corporation
It is recommended that you visit both an attorney and an accountant to discuss the legal and financial aspect of any of the business structure you may wish to choose.
2. A Business Plan
The second thing you need to do to start a business after choosing and registering your business name is to draw out a business plan. If you want to experience success in your business, then you must have a business plan. You must have probably heard that the person that fail to plan has planned to fail. This is so true.
A well-written business plan is the story of how you are going to run your business. Starting a business without a plan is like going to an unknown destination without a map. Your business plan is the blueprint of how you intend to run your business.
If you don’t have a plan, you will be guessing along the way.
Aside from a business plan being a guide for your business, a business plan is what you will need to show potential investor in the case that you will need funds for the business. Without a business plan, no financial institution will take you serious or even grant you loan.
3. License and Permit
I know you never thought of this. You must get the required business licenses and permits before you will be allowed to operate your business with peace of mind. A business license is the main document required for tax purpose.
4. Choose a Location
Your business can’t just exist only on paper; you have to decide where you will site your business. Location is a very vital factor to the success of any business. You can end up in disaster if you pick the wrong location for your business.
Irrespective of the nature of your business, it should be located close to its customers. A better location is a busy street or somewhere close to the road so eyes can see. A good business location should have a safe car parking space so customers can safely park their car to come patronize your business.
5. Marketing your Products or Services
If you don’t invest in promoting your products or services, how will people know that your business even exist? There are so many ways these days to market your products or services. Do your research and choose the one that is suite for your kind of business.
So, you can see that starting a business is not as complicated as you might be thinking. If you can strictly follow these steps mentioned above, then you can become a business owner.

Source: http://www.tipmeon.com/what-you-need-to-start-a-business/