How to start a business? It’s easier than you think. One of the things I would mention is to learn your “why”. Why am I starting a business?
First and foremost, business is about helping people. Creating a market solution for a need people have. The more people who need your solution, the more potential customers you will have.
Business is about helping and giving back, while also seeking to improve your own life. Its a wonderful commitment that will help you grow as a person, help those around you (and those not around you), and have more appreciation and gratitude for the world.
how to start a business
Creating solutions, creating jobs, creating products are all ways to put a smile on someone’s face. Think about your favorite product – one of my favorite products is Coca-Cola (Sprite, Coke, etc). It’s a sweet treat that puts smiles on billions of peoples faces. You never know how a simple can of coke can improve someone’s day.
Now, that’s not the only thing people sell. Everything you use is created and brought to the economy by someone or a group of people. Now that you may be more excited than ever, here is my step-by-step on how to start a business:
Once you know which industry you will be entering, its time to create a product, service, or technology. Building upon a something, creating something new, adding a new marketing technique or idea, a new process or ways to sell.
What is needed in this industry? For example: A new type of vegan food dressing, or a new type / brand of makeup, or a new brand of gaming equipment, or technology that better connects us, or hemp fabric, shirts, etc.
Determining your total potential market availability? How many potential customers do I have, and how many customers can I realistically market my product to? Is my product design or branding limiting my scope? Who is my exact target market? The more people your product appeals to, the more potential customers you have.
When designing a product, remember that entrepreneurs solve problems. So, your service, technology, product should solve problems and make peoples lives easier.
What market/industry am I entering?
Why am I entering this industry?
What do I know about this industry?
The more you know about the industry you are entering, the more competitive advantages you will have.
Identifying manufacturer’s, suppliers, marketers, programmers (maybe you program it yourself), or anything you might need in order to create your product.
There will be some effort but where there is a will there is a way – maybe there are ideas right here in this article that someone could take upon themselves – maybe to connect suppliers and manufacturers on one website?
Identifying cost of goods
What does it cost to get the product shipped to you, ready to be sold to your customer?
What is your markup? How much do you need to charge to make a sufficient profit to run your company? There will be many factors to consider when determining your price.
Gross Profit – COGS = Profit Margin
Naming your Company
A name has everything to do with your product, service and company.
Think about what you are doing why you are doing it – choose a name that accurately encapsulates everything you are doing.
Setting up your business structure: Sole Proprietorship, Partnership, Limited Liability, Corporation, DBA
Check out Zen Business to help you set up all your business stuff
Setting up a website
Having an information page or ecommerce page is essential in todays world.
WordPress is priced very well, you can setup your own email and domain name, and its extremely easy to use. You can setup a blog and podcast easily as well. Less than $50 for a year can get your website setup with a domain and email. Look for coupon codes. E-commerce costs a little bit more but get started with a website and blog while you design your product.
Shopify is more expensive but still a wonderful option, a bit more technical expertise needed when using shopify. I would check out both.
Setting up a blog / podcast
Getting your website noticed by search engines is what SEO is all about. You can find tutorials online (there are many solutions online, just google what you are looking for)
Blogs and podcasts create new content constantly and help your website get noticed by search engines. Keep this in mind as you are creating a product / solution idea. Give yourself plenty of topics to write about.
Start a new business social
Promote your new website and business on your current social media. Social media is a wonderful tool. You can get your product noticed by spending lots of ad dollars or you can create content, or both. Always try to think outside the box when creating marketing concepts. Get noticed in your own way.
Connect with content creators, get your company noticed, build genuine connections.
Learn a lot:
Image Creation (Canva)
Deliver great products, great customer service, great price and products which help people solve problems, and you will have a sustainable business
Think Grow Rich
Take care of your body, health and wellness. Sleep often, don’t overwork. Strategize more.
Create a sustainable business from the outset.
Think green and ecofriendly.
Don’t hesitate to google any problem you have!
Google all your business questions, there is usually a tutorial for every thing you need to learn!