To start a successful business, choose a viable business idea, write a business plan, and find the necessary start-up funds. Get a business license and any permits required for your business in your jurisdiction. Set up a designated workspace, buy business insurance, and put an accounting system into place.Continue Reading
Take inventory of your passions and your personality traits to discover a business idea that is right for you. Do research to see if there is a viable market for your idea.
Draw up a detailed business plan that includes the business name, structure and details about the product or service you plant to provide. Describe your expected clients or customers, information from your research on the market and potential funding sources. Include projected income totals and information on how those totals are determined.
If you do not have enough savings to fund the business, look for investors or apply for loans.
Register your business name with your county or state office. Apply for any licenses or permits required in your jurisdiction.
Decide where your business is to be headquartered, and set up your workspace with a computer, filing cabinet and other supplies necessary depending on the type of business you are starting.
Buy a small business insurance policy to protect your company from disasters or lawsuits.
Depending on your level of financial literacy, speak to a financial adviser, hire an accountant, or invest in bookkeeping software to keep your finances in order.