An important first step is preparing a business plan to define your business, products, and services, and outline your goals, operating procedures, and competition.

If your company needs funding from a traditional loan or venture capitalists, a business plan will be required. Make sure your plan includes a marketing approach, so people are aware of what you're selling and how to find you.

If you’re wondering how to start a business, it may be easier than you think.

Like other successful businesses, you’ll want to make sure you have a good idea first. From there, you can build a product or service that solves a need for consumers. But before you jump into anything, you’ll want to make sure you do your research.

This is crucial, because only an estimated 79.4% of companies survive their first year in operation.

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