When an entrepreneur starts to think about how to start a business, he or she has to consider a myriad of steps from evaluating his or her own entrepreneurial spirit to filing legal documents with local and federal entities. This series of articles is intended to be a brief guide through those steps.
Step 1: Research what it means to run a small business
Some people go into business because doing so is the next natural step along their career path. Perhaps a person has always been involved in a family business, and now it’s his turn to take over. Or maybe a side job in catering has gown so rapidly that the person running it falls into a full-blown business before she’s even had time to plan.
Then there are those who have thus far only dreamed of starting a business. Whether they’re mid-career professionals who are ready to go to the next level on their own or square pegs in round holes dreaming of following their passion, these are the people who are at the very beginning of questioning what it would mean to start a business.
Whatever category an entrepreneur falls under, the first step to starting a business is conducting research into personal and professional goals, entrepreneurial traits, and time and financial constraints.
One great resource on this is Become Your Own Boss in 12 Months, by Melinda F. Emerson. Melinda takes business owners-to-be through a year of starting a business beginning with looking into what it means to be an entrepreneur and creating a life plan.
More on how to start a business
This article is the first in a series on how to start a business. The following steps include: Establishing a Niche, Writing a business plan, Registering for State and Local taxes, and more.