5 Steps to starting Business

              
               
                  5 STEPS TO START A BUSINESS

Starting business is exciting but also demending. This how to start a business. 

1. Chose a unique business name.

 Chose a catchy name, there’s a lot you need to do to ensure that your business is set up legally and that your personal assets are protected. Start by choosing a business name. Before you get business cards printed, however, perform a corporate name search (usually with your Secretary of State office) to make sure the name you want is available.

2. Create a business plan.

 Having everything, from what you will sell to who will help you sell it, laid out in an easily-accessible document will help you stay on track with goals for your new business. This is doubly important if you plan to seek funding. Business plan section as follows: Company analysis, Industry analysis, competitive analysis, customer analysis, marketing plan, financial plan.

3. Financial plan.

 Financial planning is the comerstone of a company's succes nevertheless, even the best any planning cannot always foresee every fluctuation a company will have to face. A cash flow forecast is one of the most important elements of a financial plan. The amount of capital you require can be determined largely from accurate predictions of cash flow. Even if your profit is high, a lack of readily available money can lead to major problems including insolvency.  

4. Describe your product.

 The product or service you offer is the lifeblood of your startup. Thus, it is important to analyze its various aspects. Special attention should be placed on what customers demand from the product or service. The products or services section of your business plan should clearly describe whatproducts and/or services you're selling.

5. Getting started.

 The last step is the most important step. You've got a plan, the money and the enthusiasm, you're ready, right? Not yet, as with everything you need to take the legal issues into consideration. First you should choose a legal structure: sole proprietorship, partnership, or corporation. Your financing decisions will have an effect on what legal structure you choose. Now you can file with the state to incorporate and obtain a federal identification number.