How to Start a Business:

Launching a new business can be both exciting

 and nerve-wracking. Whether you have a hobby

 that you want to turn into your career, or you

 saw an opportunity in the marketplace, you can

 — if you go through the right process — feel

 confident you are on the way to starting a new

 business. Here is a guide to help you along the

 way.  

1. Developing your business idea  If you

 think about it, any business starts with their

 business idea. That being said, you need to be

 aware that not every business idea can create a

 workable business. Before you put your time

 and energy into starting your business, you’ll

 want to take the step to see if your idea has been

 validated. Here are some ideas to get your idea moving along;

### 2. Develop a Business Plan

Developing a business plan is important for your

 business, and absolutely necessary if you are

 seeking financial resources for your new

 business. 

A business plan includes:

- Executive Summary: A snapshot of what your

 business represents through a mission

 statement, wh0 your business is providing

 products or services for, and what is your

 differentiator.
- Market Analysis: This section will describe the

 industry, what market you plan to start

 competing in, and who will be your competitors

 in that market.
- Business Structure: Whether you are a sole

 proprietorship, partnership, LLC or a

 corporation, the structure of the business will

 dictate your taxes, liabilities, and business operations.

- Marketing Strategy – Your marketing strategy

 creates ideas for how your going to drive

 clientele into, and keep clientele. 

Each of these

 steps could be achieved through online

 marketing, social media marketing, or traditional marketing. 

 
# 3. **Select a Business Structure**

Choosing the correct legal structure for your

 business is critical. Your choice will determine

 everything from taxes owed to personal liability. The most common business structures are:

- **Sole Proprietorship:** Simple and

 inexpensive to form. The owner is personally

 liable for all business debts.

- **Partnership:** Very similar to a sole

 proprietorship, except it is an agreement

 between two or more people. 

- **Limited Liability Company (LLC):** With an

 LLC, you can protect your personal liability

 while allowing the profits from your products to

 be taxed as personal income.

- **Corporation:** This structure provides the

 "most liability protection" and is more complex and expensive to setup.

### 4. **Apply for Business Registration and Licenses**

Once you have selected your structure, you will

 have to complete the process of officially

 registering your business:

- **Select a Business Name:** Choose a name that

 is unique and not being used by another business

- **Register your business:** Depending on your

 country and likely state, you may need to

 register with a state agency or municipality.

- **Get a Tax Identification Number (TIN or

 EIN):** Governments require this number to

 track your business for tax purposes

- **Apply for Permits and Licenses:** Depending

 on your industry, you may be required to obtain

 licenses or permits from the local, state, or

 federal government before legally operating

 your company.

### 5. **Find Funding For Your New Business or

 Venture**

Besides your own personal funds, nearly every

 new venture will need some form of startup

 capital to acquire product, space, or for social

 media uses. The most common methods of funding for new businesses are:

- **Your Own Savings:** Many entrepreneurs

 begin their ventures by personally saving for their startup.
- **Loans:** Many local banks offer small

 business loans, small business lines-of-credit,

 college or university loans for start-ups, etc.

- **Investors:** Most business start-ups ties down

 investors for up to 5-10 years in exchange for

 partial ownership in the new company.

6:- **Crowd Funding:** Websites like

kickstarter.com allow you to ask for small

 amounts of money from a lot of different people

 (maybe 1 to 500) in exchange for early access to

 your item or other rewards. 
Regardless of whether your business is small or

 large, you will need to learn enough about

 finances so that you can correctly establish and

 effectively run your business. Once you have

 your business up and running, you need to

 implement the following: Set up a business bank

 account to keep your new money separate from your personal money. Set up a monthly accounting system with either an accountant,

 bookkeeper, or accounting software like

 QuickBooks to help you track revenue and

 expenses. And make sure you understand clearly how and what taxes you will owe. Your

 business structure will define what taxes you

 will owe, which may be one or more of income

 tax, sales tax, and self-employment taxes. 

 7:Build Your Brand and Online Presence It is

 imperative, these days to have a solid brand and

 online presence. This begins with logo design

 and brand identity. Secondly, you will want to

 design and develop a professional website for

 your business. Use the right messaging for youu

 elevator pitch and company vision. Finally, you can create a marketing plan for your business

 long before you design or develop a web site or a

 launch plan. One of the first things to learn

 about online advertisement is how to write

 compelling a call-to-action, why everyone needs

 a good landing page, etc. Finally, we all know

 that to maximize your investment in your

 brand, you need to start blogging online. 

 8:Launch and Market Your Business Finalize the plan and launch: When you and your team are

 ready to promote your product or service,

 launch and promote via social media, local

 search, local PPC campaigns or anything you can

 think of. Or by way of press releases and email

 marketing. Last, both customer and investor

 traction can either make or break a new

 business. Run a minimum viable product, test

 other niche areas, refine the key elements of your business.