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How do I start an business

I got everything I need How should I start it # investing

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From: You
To: Friend
Subject: Career question for you

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Rebecca’s Answer

I am glad to know that you are ready to start your own business. May I ask you a few question?
1. Have you confirmed the industry you would like to do your business?
2. Are you financially ready for your business? i.e. do you have funding yet?
3. Do you know the operating model of the business?
4. Do you need any supplier or distributor of the business? If yes, have you identified any? How about the pricing?
5. Have you done any analysis on the competitors in industry? How do you differentiate your business from them?
You may need to have some answer of these questions. Before you start your own business, would you try to work in the industry first to understand how the business runs. Also, if possible, you can consider to start the business online first to lower the start up cost.
Hope this helps! Good Luck!
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Joe’s Answer

I'll be bold here: don't start (at least for a while). If you think you have "everything you need" then you haven't done enough work to start - because the truth is you NEVER will have everything you need.

Joe recommends the following next steps:

Read a few books about entrepreneurship, business, and your industry
Take an online class on entrepreneurship
Get a job or internship working at a company that's similar to the company you imagine you'd like to start
Write up your business idea and share it with a mentor for feedback. Check out something called the "Business Model Canvas"
MAYBE after you've done all these things, it makes sense to try starting your business. ;)
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Zahid’s Answer

There's several things to consider, such as your target audience, how best to reach them, the need or any permits or documentations to file, any partnership, and funding to name a few. The US government has information as well as 10 steps from the Small Business Administration (SBA) to starting a business on their website. Check it out at: https://www.usa.gov/start-business

Other resources you can check out are:
How to Start a Business: A Guide to Starting a Business
https://www.oberlo.com/blog/how-to-start-a-business

12 Steps to Start a Business in 2021 (With No Experience)
https://www.shopify.com/blog/how-to-start-a-business
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