How to Start a Company

By eHow Business Editor

Rate: (16 Ratings)

Got that entrepreneurial itch? Here's a quick overview to help you go for it. Go ahead, take the first step!

Instructions

Difficulty: Moderately challenging

Things You’ll Need:

  • Fax Machines
  • Printers
  • Business Magazines
  • Internet Access
  • Business Cards
  • Desktop Computers
  • Investment Software
  • Spreadsheet Softwares

Step1
Come up with a great idea.
Step2
Test your idea with members of your target audience. If it flies, continue to develop it. If not, come up with a better idea.
Step3
Write a business plan. (See Related eHows.)
Step4
Raise money from your savings, friends and family, the bank, or the Small Business Administration (SBA) to launch the business. (See Related eHows.)
Step5
Recruit a great team of people.
Step6
Work, work, work to get ready for launch.
Step7
Market your product or service to your target audience.
Step8
Monitor your company's profitability, market share and other business indicators.
Step9
Build your business steadily by staying in touch with what your customers need, monitoring competitive activity and adjusting your plans and actions accordingly.

Tips & Warnings

  • Pace yourself. It is demanding to start a company.
  • Use resources such as MBA students and the SBA to help your business.
  • Have fun.
  • Starting a business is risky. Have backup plans or savings to make sure you can stay afloat financially.

Comments

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Anonymous

Anonymous said

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on 11/22/2005 When starting a business, you need to focus not on the big picture, but the task at hand. Too much input and not enough output will get you all clogged up. Don't bite off more than you can chew.

Anonymous

Anonymous said

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on 11/22/2005 Remember that you will almost always start out in a deficit, so make sure you have a back up reserve in case a climb in income is not apparent.

Anonymous

Anonymous said

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on 11/22/2005 Validate your business concept by having the most qualified and recognized leaders in your industry on your advisory board . You will find it much easier to raise money, hire, and find new business opportunites and partners.

Anonymous

Anonymous said

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on 11/22/2005 Hire on a staff leasing company to handle workers compensation, human resources, payroll, benefits, etc. It will save you tons of time, money and liability!

Anonymous

Anonymous said

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on 11/22/2005 Impress upon those you hire, too, that there is risk. If they can't comprehend this and if they can't focus on making the company profitable, they aren't right for your company.

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eHow Article:  How to Start a Company

eHow Business Editor

eHow Business Editor

Category: Business

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