To start a business, any business, you need to get there without going broke. These are 5 key steps to take to ensure success.

  

1. A plan.

Name it anything you want, but you need one. You can’t start something as important as a business without being prepared.

 

2. Budget.

How much do you have to build your business? What are the costs involved? Where is your funding coming from? A Budget plan is also an important thing to consider.

 

3. Your Legal Business Entity.

 Meaning how are you going to be taxed and payed? LLC, Partnership, Sole Proprietorship, S-Corp, Foundation, or 501-C3.

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4. Products/services.

Where are you selling your product and/or service? Online only? Business location? Both?  Will you drop ship?

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5. Who you work with to achieve your dream, goals, and complete the plan.

   

Number five here is so key.  Why? You may think you have the greatest idea, invention, book, products, or services.  Only share it with people you know and who will believe and support you.  Do not share it with friends. Keep your words few on what you are doing and just work. They will see the results. You will still have friends and you will be able mentor others with what you have created.  Give it back. (Good, Bad, Ugly and I add Freedom).

   

 

 

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