There is a great (and quite apt) business philosophy floating around the Internet, something you may have seen before. It goes like this: Just because you are struggling, doesn’t mean you are failing. Many businesses struggle, it comes with the territory, and it should be no reason to throw in the towel. Just remember, nothing worthwhile is easy, and anything worth doing is worth doing well, and business will become tangible.

Keep this things in mind as you begin your next adventure into entrepreneurship as you read these 5 steps to start your business.

Create a Plan

A solid plan of action is the very beginning into making your business work. Not just an idea. It must be written, thought out, including things like financial issues, stock, storefront, office space, logistics, and so on. You must have a map to find the treasure.

Capital of Importance

In order to make money, you have to invest money. This means you must also have money to invest. If you are strapped, consider a business loan; borrow money; invest in a high-yield savings; work more… whatever you can do to get the capital to get things rolling.

Business Structuring

What sort of business are planning to start? An LLC? A sole proprietorship? A 501(c)3? An S corporation? Will you have partners? It is important to consider the structure so that you can implement hierarchy, corporate laddering, leadership roles, board members, and so on.

Register and Get a Tax ID

If all goes as planned, you’ll need to register your new business with local and state government. This also means you have to have a name (and a brand; I’ve covered this before in various ways). Additionally, you will need to acquire a federal tax ID from the IRS, register for things like healthcare, workmen’s’ compensation, unemployment, and disability.

Stick to It

Remember earlier when we talked about business philosophy? This is when you use it. Struggling does not mean failing. Even Internet giant Amazon didn’t make a single dime for the first four years they were in service. Stick it with it, and never stop when you are tired, instead wait until you are done.

For more information on how we can help you, feel free to contact us.