Judging by the length of this blog, it’s easy to discern that, today, I’m not going into crazy detail on all the steps needed to start a business. However, I will unveil the order in which you should be doing things. And that is, arguably, even more crucial.
Steps to Start a Business in 2022
Step one: Understanding that owning a business is different from just creating online income.
Meaning, you’ve made a commitment to:
- do the work
- be frustrated
- know your numbers
- invest in experts
- be wise about how you spend your time/money
- never give up
Step two: Decide if, in fact, you have what it takes to run a business.
And what does it take?
- common sense
- insatiable curiosity
- crazy amount of energy
Bottom line: Once you decide you’re going to be a business owner, you’ll be thinking about your business seven days a week, 24 hours a day.
Step three: Figure out what type of business you want to start.
Now, it goes without saying that this step takes some people a lot longer than others. In truth, it is this step that often kills most would-be business owners because, for whatever reason, they’re so freaking afraid to pick ONE thing.
My advice: just pick.
Step four: Start reverse engineering your plan.
The best way to do this is by taking out a pen and a piece of paper and do a complete brain dump. Absolutely everything that you could possibly learn, from nuts to bolts, get it all out on paper and then some.
From the smallest of tasks to those things that you probably won’t have to deal with for a couple of years — it doesn’t matter. Once you have it all down on paper, then — and only then — can you start to put together the order in which you need to do things.
Pro tip: Pay special attention to the estimated cost of your start-up.
Step five: Decide on the name and the branding.
I find that most rookie business owners get really hung up on the name early in their efforts. And if they can’t come up with a name, they just freeze. Or — they come up with a name, fall in love with it so desperately, and once they learn someone else already has a trademark on that name (or that name is not available), they’re like,
“Oh, my dreams just went up in smoke!”
Never fall so deeply in love with a name that it kills your dream, okay?
For additional steps, plus far greater detail on each of the steps above, you must check out this episode of Build Your Tribe:
And don’t forget to subscribe to BYT for weekly shows dedicated to business strategy and social media growth!