How Do I Start A Business

So you are wondering, how do I start a business of my own. A lot of would be entrepreneurs who wants to start their own small business spend all of their time planning their corporate structure, getting the required permits and licenses, setting up bank accounts, and do all of the other small business nuances before they actually figure out whether they actually have a product or service that someone will buy.

The first step when you ask... How Do I Start A Business ... as the old saying goes is, do not to quit your day job. Not until you've talked to actual potential buyers and has actually committed to pay for your product or service. 90% of the time, what you  thought was going to be a big seller in the marketplace turns out to be a dud, and then you have to go back to the drawing board regarding your product. If you've spend all of your time and savings establishing your corporate presence, there will not be any money left to pay yourself when you have to go back to stage one.

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In addition to not immediately quitting your day job, here's a list of 19 things on "How Do I Start A Business" Correction...

19 things on what NOT to do before starting a business:

   1. Do not quit your day job. Already discussed.
   2. Do not incorporate your business right away. The majority of all small businesses are sole proprietorships, and are make money.

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   3. Do not get a corporate business bank account. Your personal banking account will do just fine if someone wants to write you a check, or if you need to buy something.
   4. Do not go ahead and rent an office. Work from home. It does not require a security deposit and it's tax deductible.
   5. Do not hire a small business attorney. What's an lawyer going to tell that you didn't already know, or couldn't figure out on your own? There are two times when you need an attorney: if you're in jail, or if someone else's lawyer contacts you.
   6. Do not hire an accountant right away. Quickbooks Simple Start will get you going.

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   7. Do not get a bank loan. To get a loan that means you work for the bank and not for yourself.
   8. Do not hire any employee's. Do not hire someone if you can do the job yourself. For anything else, hire a specialized contractor.

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   9. Do not get a business license right away. This is not advocating that you cheat the government. Once you start selling your product or service, then you can go out and get all of the necessary business licenses and permits in your jurisdiction.
  10. Do not try to patent your product. It takes up to three years to get a patent. You do not know what the market will look like then.
  11. Do not design a logo right away. You are your own brand, you do not need a logo for that.
  12. Do not spend too much time picking a business name. You are a sole proprietor, your business name is: your own!
  13. Do not spend money on advertising. Advertising costs too much money and it takes too long time to perfect. Selling takes only you.
  14. Do not buy office supplies you do not need. If you need a pencil, get one out of the kitchen. You are working from home.

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  15. Do not buy equipment you don't need. Try to outsource everything. Fedex Kinkos can handle most of your printing.If you need something big, try to rent it! If it's something you can not rent by the day, maybe there's another local business with one you can share. Can you rent it during their off hours etc.
  16. Do not find a partner. Partnerships do not work. You are a sole proprietor. If you the inventor or the originator of your product or service, if you can't sell it yourself — no one will else will be able to.
  17. Do not join the local Chamber of Commerce. Chambers of Commerce have great meetings where you can network with other local business people. Right now, networking takes too much time, you need that time to sell! Plus, you can always go as a visitor.
  18. Do not tell your friends or associates about the business that you're going to start. Every minute that you spend telling someone about your business plan is one less minute you have to either try to find someone to buy your product. Also, everyone knows a budding "entrepreneur" that is all talk and no action: Don't be one.
  19. Do not get a business telephone number or a business mailing address. You have a cellphone, use that. If someone needs to mail you something, have it send directly to your house. You're working there, remember.