See what is missing in the world
Provide goods or services that people always need and are willing to pay for. Make sure that you source the best suppliers to run your business as efficiently as possible.
Write down your ideas and be clear about the type of business you want to start
Make sure that you plan in advance, so that you have a clear idea about how you want to run your business.
Get views and opinions from at least 100 people
This will give you an idea about the viability of your start-up. Try to get viewpoints from people who aren’t related to you, so that you get objective feedback.
Choose a business structure
Keep in mind that the type of business structure you choose will determine the laws and regulations you’ll need to abide to.
Register your business
This is arguably one of the most important steps when you want to start a start-up. By registering your business, you are effectively creating a new entity, recognised by government, which will provide services or products.
Make sure that you hire the right people in the right roles
The people that you hire for your start-up can make or break it. It’s important to make sure that you identify the right people in ideal roles, to make sure that your business functions efficiently.
Make sure you have a business plan
Formulate a business plan with a clear outline of what your start-up is about and how you aim to achieve goals.
Think about your branding
You need to find a way to stand out from the crowd, so your branding should be the best and come up with creative marketing solutions.
Get your head around finances and accounting
Running a business involves more than just providing a product or service. You need to ensure that your finances are in order.
Set up business banking
When you start a start-up you need to open a business bank account. This will ensure that you don’t mix your personal finances with business finances.
Make sure that you find a suitable location from which to run your business.