4 Actionable Steps to turn your Business ideas into Reality

By  | 

How to start a business? is an often asked question we mostly hear from wantrepreneurs. People feel stuck in this question and get overwhelmed because they feel that this is the main hurdle which is standing between them and their success. They think like this because they have no proper guidance, relevant experience and also lack up-to-date information. If you’re one of them and have a great business idea but don’t know how to start a business? then do not need to worry anymore. All you need to categorize your goal starting a business into smaller tasks. In this way, you can turn your business idea into reality.

For your convenience, I have mentioned four simple steps that will surely help you to get started.

4 Actionable steps to start a business

1). Write Startup Business Plan

A normal person usually comes up with 3 to 4 small business ideas annually but they often get failed because they move forward without proper business planning. If you have a killing business idea then you should do business planning before your launch a startup.

Well, I’m not telling you to go and write a lengthy business plan. All you need to put your business idea into written form. Yes, just write a one page or two pages startup business plan to get started.

In this step, you need to define your business idea, write vision and mission statement, business strategies and lastly small business action plan. At the end of the startup business plan, you also need to calculate your business costs and forecast your projected income.

2). Do Some Market Research

Have you done with business planning? Yes!!!! Ok, that’s great. Now, it’s time to visit market and do some research. In this step, you need to select your business competitors which are already working in the same niche. Analyze their products and services, their business and marketing strategies, their customers and how they deal them, their business and pricing models.

You also need to talk with market customers. Ask them what type of products and services they are looking for? What type of problems they usually face when they purchase from existing businesses? What improvements they would like to suggest?

Reveal your proposed business idea and ensure them that you can fill this gap and resolve their problems. While doing market research, you can also get new customers for your proposed startup business.

3). Business Financing

Every business needs money to launch it successfully. If you have enough funds to start and support your business then it’s great. But if you are facing some financial obstacles then you need to find some investors for business financing.

Nowadays, raising funds for startups is much easier their previous years. Numbers of websites are available on the internet that provides their platforms to wantrepreneurs to raise funds in order to turn their ideas into startup business. These websites are generally known as crowdfunding websites.

All you need to sign up on the crowdfunding sites and setup your account. Make catchy title, description and small explanatory video to attract potential investors for crowdfunding. Some of the best crowdfunding websites are

After successfully running the crowdfunding campaign, attach your PayPal or bank account and withdraw the crowdfunding amount to start a business.

Apart from crowdfunding method, there can be other financing options available for you through which you can finance your small business ideas.

4). Start your Business and Track Progress

Now, this is the fourth and last step of starting a small business. Before I move to finish my step-by-step guide, let me clear one thing. If you’re going start a business offline then you also need to do following things,

  • Choose your Business Location
  • Business Registration to protect your startup

If your proposed small business is online then you obviously need a website to deal online customers. For this purpose, you have to buy website domain name (URL) and Web Hosting to get started.

After successfully starting a small business, wait for some time to get potential customers and track progress to improve your business operations.

Final Words

Recommend that you should start your small business from low scale. Do not put all of your funds into the startup business. If you invest all of your savings then lake of experience or bad country’s economic situation can put your business into loss. So, start your business from low investment. Secondly, if your business sales gradually increase with the passage of time then you can invest more to earn more and expand your business.

Adil Zaman is Pakistani freelance writer and founder of fincyte. He loves to write on Small Business Trends and tech subjects.