by Daniel Rung and Matthew Rung
Starting a business from the ground up? Here are the specific steps you should go through to successfully launch your business. For more information about each step, click on it and it will take you to the appropriate section of our Ultimate Step-by-Step Guide to Getting Your Business Started, which has detailed instructions for each step. Ideally read the entire Guide before starting.
- Develop and validate your business idea
- Conduct market research and competitive analysis
- Write a comprehensive business plan
- Establish your physical or virtual business location
- Fund your business
- Choose your business structure (e.g., LLC, Corporation)
- Register your business with state and local authorities
- Obtain an Employer Identification Number (EIN) from the IRS
- Open a business bank account and credit card
- Secure necessary business licenses and permits
- Obtain appropriate business insurance coverage
- Develop your brand identity (name, logo, tagline)
- Protect your intellectual property (trademarks, patents, copyrights)
- Business software: Accounting, CRM, Email, taxation, etc
- Determine and secure your funding sources
- Create a website and establish an online presence
- Develop your products or services
- Set up your operational processes and procedures
- Identify and secure suppliers or vendors
- Hire employees or contractors
- Implement your marketing and sales strategies