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What is the first step you should take when starting a business?

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Quick Answer

The first step you should take when starting a business is to come up with an idea. The idea should present a solution to a problem, ideally with a large market. It is a good idea to start a business based on a passion.

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Full Answer

The next step is to decide whether you plan to be the sole owner of the company or if you are going to seek investors. This determines many factors in the future, such as how long it should take the company to turn a profit. Next, it is important to do market research to make sure that the business plan is going to be feasible and worth the effort.

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