Almost everywhere you look, there is a business or the other. Numerous small businesses around, with little or no capability to last up to two years or five years, at most. If you have that fantastic idea and do not want it to wither away, then you have to follow certain steps..
Before starting up a business or putting up that fantastic idea, you need to make a research. What is the relevance of your business to your location? How will it benefit those who come across it? Will it sell in the target location? Carry out a feasible study before making any further move.
A business plan is a blueprint that will guide your business from the start-up phase through establishment and eventually business growth, and it is a must-have for all new businesses.
You should have an estimate of how much you will be spending on your business in the next one or two years; running cost and logistics.
You may choose an initial business structure, and then reevaluate and change your structure as your business grows and needs change.
Your business name plays a role in almost every aspect of your business, so you should pick a nice name.
Promoting your business increases chances of your business success.