What are the seven steps you need to do to start your business today?

1.   Do your market research:  The first essential step is to research your potential market. Who needs what you are offering? Is there space for your product or service in the market or is the market saturated? Is the market national? Is it a niche? Can you define your ideal customers?

2.   Show yourself the money: You can't start a business without capital. Determine what you have, what you will need and how you will go about getting it.

3.   Hire a good business attorney:  "A good attorney will know what it is that you are trying to do and help you structure your business in a way that will be beneficial to you," says Chris Talis, senior partner at Hedgerow Mergers Acquisitions in Teaneck, N.J.

4.   Hire a good accountant: An accountant will work in conjunction with your attorney and be instrumental in determining the best form of ownership.

5.   Decide on a business structure: Your choices include sole proprietorship, partnership, corporation, Personal liability, taxes, paperwork and regulations vary greatly among the different legal business structures.

6.   Decide on a business name: It may seem obvious and simple, but the name is how your business will be known to the world. The right name says a lot about your company.

 

7.       Get all necessary licenses and permits: Along with a business license, you may need to get additional licenses depending on the type of business and local laws. 

 1- project idea

2 - feasibility    

                 3 _ infrastructure  project 

4 _ technical staff

5 _ marketing       

6 _ sales                

7 _ market              

Why seven things? Why not 4 or 6 or 9?

I choose 5 things:

1. Identify the business opportunity that matches your passion and talents

2. Make a feasibility study for it

3. If it passes the feasibility study, then make a business plan for it

4. If you need funding solicit investors

5. Make it happen...Just do it. 

1) Start by compiling and organizing your thoughts, and that the full knowledge of the project and its requirements; ensuring a strong start to the future of the project, and make sure that you have a clear idea of ​​your project, and that this idea is right for you and reflect your interests and your goals, Because the start of successful depends on the balance between the resources and the experience, as you taken from that into account personal goal of the project; because of the impact on the various aspects of your life and your time and your income, family, social and your connections.2) Make sure your goal of the practical project, the viability of the project application and growth, it is important to have your own place in the market, look at the number of proposed projects, the more the number of projects which do you choose among them you can protect yourself from any hasty decision....

3) Limit the physical target and needs cash, not MAKE your project succeed financially by giving time and effort free, ask yourself what return you want? What is the average profit in the industry? What do I need cash; so I start my project?

4) Choose the name of your project; which makes the setting more realistic for the project process, The name of the chosen project proves in people's minds and affect your success; so we advise you that the name be distinctive and descriptive.5) Identify a location for your project, and START A network of relationships to join the Chamber of Commerce, and choose a legal form for your project; relying on professional consulting....

 

6) national marketing preparation that helps you know how to find customers and keep them, and achieve your goals, TCO files to your competitors, Register which is the work of your competitors and Keep their ads, and news of the financial their transactions, and look for statistical information and use it, it is through Sttarafan on and leads the labor market. 7) Identify ways of advertising, and public relations strategy and what are the channels that will be announced to ensure the arrival of your product to the largest possible number of people.

• Goal /Purpose of Business (Financial,Operational & Managerial)/Short term vs Long Term
• Primary & Secondary market research(Analysis of Industry & Product Market Trends)
• Entrepreneurship skills (Basic & Advance Management skills)
• Capital(Cash)
• Basic factor endowments(Human & tech) 
• Networking
• Ability to change management or resist micro & macro environment shocks

agree with all expert answers above

 

Thanks \\

Totally agree with the great answers given by Mr. Mahmood and Mr. Pravin

While starting a business is no easy task, it's not as difficult as many entrepreneurs would think. Instead of obsessing over every minor detail or second guessing yourself, if you follow these seven steps, you can be on your way to launching your very own business today.

1.     Don't Brainstorm, but brainwrite Ideas.

2.     Know and Analyze Your Industry 3.     Write Your Business Plan 4.     Get Everything in Order 5.     Make it Legal 6.     Secure Financing

 

7.     Gain Traction

A lot of people think starting a business is hard. Too many would-be-entrepreneurs get stuck early in the process because they think only a certain type of person has what it takes to make it as a successful business owner. The reality is, most people have what it takes: a good idea, the right amount of capita and the creativity.

What most people lack, however, is the patience, determination and ability to plan. It’s easy to become overwhelmed in the early stages of starting a business. The key is to have a working plan to stick to. Use something simple to guide you along the way.

Here are seven key first steps to starting your own business:

Related: 6 Things I Wish Somebody Had Told Me When I Started My Small Business

1. Take time to brainstorm.

An idea is great, but you need to be able to give it legs. Your job as a new entrepreneur and future business owner is to think about every aspect of your business. Come up with answers to every question a stranger or potential investor might ask you. For example try to answer these questions:

Who is the target market for the product?

What could go wrong and how will you solve it?

Are there additional products or services that could tie into your main offering?

What are the main things you want your customers to know about you?

By preparing answers to these questions ahead of time, you'll come across as a more confident and trustworthy business owner when it comes time to try to attract the attention of the right stakeholders.

2. Create a business plan.

After you’ve taken the time to answer questions about your business or product idea, put together a concrete business plan.

According to the U.S. Small Business Administration, the main parts of a business plan include the executive summary, a company description (what makes the company unique), a market analysis (the competition and target demographics), the company's structure, a description of the service or product line, the marketing and sales strategy, financial projections -- plus any additional useful information.

Entrepreneur also has a section of free business plan templates that can help you get started.

3. Gather needed resources.

If you're planning to start a one-person business, you don’t necessarily need to worry about hiring anyone. But it might be helpful to create a plan for the future when you want to scale the business.

No matter what the size of your business is, you'll need a few essentials to start operating. Create a list of everything you’ll need and its approximate cost, Whether it’s an office space with a new desktop and printer or a warehouse to hold the products.

If you are purchasing something that will solely be used for business, then likely it's tax deductible. Be sure to check with the IRS, an accountant or a tax attorney to be sure you are properly deducting expenses.

Related: 10 Essential Startup Lessons That You May Not Have Learned in College

4. Launch marketing and brand-awareness campaigns.

Before you launch the business off the ground, start planning the ideas for marketing, sales, and branding efforts. Because social media is used by much of the U.S. population in most age groups and continues to grow in popularity globally, having an online presence is key.

Create a Facebook page, Twitter profile, Google+, and LinkedIn page for your business, depending on the appropriate social media channel for your company. For instance, a dry cleaner may not find a LinkedIn page useful but could connect well with a local community on Google+ and Facebook. Be sure all your web pages have a cohesive feel and are updated regularly.

All other communications with your clients should have a cohesive feel. Use the company's brand colors and logo to create business cards, letterhead and email signatures to demonstrate to customers a professional operation.

5. Get the finances in shape.

Not setting up proper accounting, bookkeeping and tax records up front can be dangerous and costly to a business in the long run. Set up the business as an limited liability company, an S Corp or whatever structure fits best to protect personal assets. Use bookkeeping software like GoDaddy Bookkeeping  or Quickbooks that make it easy to export records when doing taxes.

Hire an accountant for your business who can ensure that taxes are done correctly. While doing your own business taxes can be relatively easy when running a solo business, laws and regulations vary by state. Consult with an expert to make sure you're in the clear.

6. Create a maintenance list.

When you finally have your business up and running, keep track of regular tasks that keep a business running, namely doing payroll, keeping up with inventory, updating the website and regularly blogging and using social media. Create a list of these regular tasks and schedule them on a project management dashboard or an online to-do list like ToDoist, which lets someone list a task’s due date as “every fourth Wednesday” and then it regularly appears on a daily task list.

This ensures you will continue the regular housekeeping tasks of the business so it runs smoothly.

7. Set future goals.

Whether your business is a day or a year old, continuously set goals in order tomove your business forward.

Examine the competiton, employees, investors and peers to help you decide what new goals need to be set and what needs to happen so as to be successful.