How to Start a Business in 5 Steps - BusinessTown

Learn how to start a business today...

With our best-selling course Start-a-Business 101.

How to Start a Business in 5 Steps

How-to-Start-a-Business-in-5-Steps-

 

Many people hate their 9 to 5 jobs.

Every day they show up for work, accomplish the same tasks, stress themselves out…. For somebody else. And maybe that person doesn’t even know their name.

As cliche as it sounds, we only live once. You want to live a life as free, fulfilling, and interesting as possible. Sadly, being an office drone isn’t likely to bring you this.

Do you hear this little voice telling you that it’s time for a change? Yep. You know what I mean. After all, you are reading this article right now!

You need to think about starting your own business TODAY!

Starting your own business is the best way to build something meaningful, become wealthy, and be completely free! Also, it has NEVER been easier to start your own business.

Even if you have little time, money or experience you can do it! There are a lot of lucrative part-time businesses you can start with little or even no money and experience.

starting-your-own-business-launch
Starting your own business isn’t as complicated as you think. You just need to have a plan!

Once you know that you want to be your own boss, you need to get your battle plan together. Starting a business is a big decision and an intimidating task. You want to be able to strategically approach this. And the best way to start is learning a little bit more about it!

I’m here to help you. I have done it before.

In this article, I’m going to walk you through the 5 main steps you need to complete to start your own business.

Why should you listen to me?

I have a Harvard MBA. I have also started dozens of successful businesses including one I started with $2,000 and later sold for $40 million dollars. I’m one of the few people who can show you how to succeed because I’ve done it before, many times.

My website has helped millions of entrepreneurs. I truly want you to succeed and start your own business. But before you do that…

You need to nail down the first critical steps.

Starting a business is like building something. If the foundations are weak, then the whole building will later crumble.

Here, the foundations of your business are these few critical steps that you are going to follow now. Along the way, you will make some crucial decision that will impact your business forever. You will need to pay a lot of attention to them if you don’t want them to come back and haunt you later down the road.

But don’t worry, as an experienced entrepreneur who has successfully done it himself many times, I will help you understand what’s important and how to address it.

Let’s get started.

1 – Commit to your business

So you want to start a business. That’s wonderful and I’m proud of you. But wait… Do you really want it?

Let me rephrase this, are you really committed to your future business? Are you ready to do whatever it takes to succeed?

Before going further, you need to know that starting a business will require some dedication and sacrifice. You might have to work long hours, cut down your personal expenses, or take out a loan for example.

Start-a-Business-in-5-Step
Do you really want to start your own business? It will take a lot of dedication to succeed.

Also, you will need to truly try to make the best possible decisions on the most critical issues for your business. You need to be willing to learn what these critical issues are and how to make the best choices on these make or break decisions.

Hey! I have never said that it was going to be easy. Everybody would be a millionaire if it was the case. But it is 100% doable if you commit to your business, learn about how to start a business right, and try as hard as you can! If you have the drive, the rest will follow, believe me.

Millions have done it, I’ve done it, and you can too!

2 – Choose the best business idea for you

Alright! Once you are sure that you really want to start your own business, the next step is choosing the best business idea for you.

Wait a minute…

Let me make myself clear. I didn’t say find any business idea. A random idea probably won’t cut it. It may likely fail. You need to carefully pick the best business idea out there if you want to maximize your chances of business success.

Some business ideas are simply much more difficult to succeed at than others. And some business ideas are going to be a poor match for you.

Choosing your idea is probably the most important decision when starting a business. It is absolutely crucial and will have a direct impact on your chances of success. Many people make the mistake to think that to succeed in a big way, a business idea needs to be a brand new concept, for example an I-tech device or an App addressing a totally new need. But that’s not true!

There is an endless amount of proven business ideas that have made thousands and thousands of entrepreneurs rich before. I know because I have succeeded in more than a dozen of them including businesses as diverse as bicycle rentals to a book publishing business.

starting-your-own-business
Picking the right business idea is absolutely crucial when starting your business. Put a lot of thoughts into it!

But how do you go about choosing the best business idea for your situation?

My personal advice is to generate as many business ideas as possible and then pick the one that’s the best fit for your personality, skills, and the market.

Before choosing your idea for good, don’t forget to test it and gather some outside feedback.

Don’t hesitate to spend a lot of time on this first step. Like I told you before, it is very important to make the right decisions early on if you want your business to succeed.

3 – Differentiate your business and create your strategy

Now that you have your business idea in mind you need to differentiate your business and come up with a strategy.

Differentiating your business is important. Here’s how to do it.

First, you need to answer this question: Who am I targeting and why would they do business with me instead of my competitors?

Having a clear answer to this question is crucial. A lot of entrepreneurs fail because they don’t give enough thoughts to this particular step.

To answer this crucial question, you need to research the market and the competition and find the underserved spot where you can fit in.

Here is my personal take on competitors: the best way to deal with them is to not compete with them in the first place.

For this, you need to be unique! Try to find your own target audience and niche. Identify your audience paint points and address them in a remarkable way you know they will care about.

start-your-own-business-be-different
Instead of facing the competition head-on, you should try to be unique and target a specific niche.

You need a short business plan.

Once this is done, you need to put together a short business plan.

There, you should compile every key strategic decision you are making about your business.

This includes but is not limited to: your target market, your competition, your differentiation, your team, and how you will operate.

It doesn’t have to be long. For my own businesses, a one-page business plan did the job when starting out.

What’s important is that you can easily refer to your strategy and make changes as your business evolves.

Knowing who your target market is and how you are different from your competitors is extremely important. You don’t want to be one of these businesses that launches blindly in an oversaturated market. You might fail or you might not. But at best you will likely suffer from weak customer loyalty and low-profit margins, and never reach your full business potential.

4 – Get the money you need to start your business and learn how to project your finances

At this point, you want to think about your business finances. How much money do you need? Where are you going to find it? How are you going to create your financial projections?

Find out how much money you need and how to get it.

Let’s get started.

First, you need to know how much money you need to launch your business and operate it for a few months. It is important you include enough to make sure your business doesn’t run out of cash before revenue starts coming in!

If you can’t cover this amount yourself, then you need to think about getting outside financing for your business.

There are many options a business owner can consider when looking for outside funds. My personal advice is to approach your family and friends first. Then, for a startup, I would turn to angel investors.

5-steps-to-start-your-own-business
When looking for money for your startup, asking your family and friends will likely be your best bet.

It would be nice to get money from more traditional banks or even online lenders, but your business will usually need a little bit of operating history to get money from these sources.

Crowdfunding could work for many businesses, and venture capital is a possibility if your business has extremely high growth potential.

Before approaching any potential investor or lender, get your ducks in order! Have your business plan, including your financial projections, ready to go! And be prepared to answer the different questions that you are likely to face.

How do you project your finances?

You need to be able to project your finances to make presentations to potential investors to get money to start your business. Being able to track and project your finances will also help you run and plan your business better.

Start by learning how to put together an income statement, also called a profit and loss statement for your business.

Then, learn how to assemble a balance sheet, which is a snapshot picture of the financial situation of a business at any one point in time, including all assets and liabilities.

Next, you should learn how to create “pro-forma” which simply means “future” income statements and balance sheets.

Finally, you should learn how to create cash flow projections, showing when cash will be flowing in and out of your business.

All of this financial stuff may sound difficult if you haven’t done it before. It may take a little while to get a handle on it, but it’s not that tricky! If you can add 2 plus 2 and get 4 most of the time, you’ve got what it takes to be able to master business finance!

5 – Develop your marketing and find your first customers

Now it’s time to plan how to reach out to your target audience. You need to make them aware that you have the perfect solution to their problem and get them to buy your product. That’s where marketing and sales come in.

Here’s the one crucial thing you need to know about marketing…

Before you get excited about your brand new online ad or attention-getting publicity stunt, let me tell you what I think is the most important thing about marketing. This is something I truly wish I knew when I started off as an entrepreneur.

Marketing is hard. VERY hard. Even seasoned marketing professionals fail all the time.
What you need to do is carefully test different approaches with small amounts of money. The last thing that you want is to spend your precious cash on a marketing strategy that is generating no revenue whatsoever!

Start-your-own-business-marketing
Marketing is hard. Make sure to test different strategies with small amounts of money first.

Now that you understand the true nature of marketing, you can start building your plan. To get started, answer the following questions: How can you reach your target market? What is your goal? What’s your budget? What’s your message? What are your channels? What are your creatives?

So start by answering these questions, and you will be well along your path to creating a winning marketing plan that will succeed in pulling in customers. Just like your business plan, your first marketing plan doesn’t have to be extremely long to be meaningful and valuable. But it needs a huge amount of thought.

Don’t forget that marketing is complex. Chances are that no matter how carefully you plan it out, your first marketing efforts still might not work at all. Don’t get discouraged! Keep experimenting, but with very small amounts of money…until you find the winning formula!

Anyone can sell! Here’s how to do it.

Now let’s talk about sales.

Are you still here? I’m asking you this because most people are afraid of selling. Are you? Well, I have two news for you, one good and one bad.

The bad one first…. As a business owner, you likely have to do at least some type of selling. You may well be the first sales person for your business.

Now the good one! Selling is not that complex, and once you get past the intimidation and the fear of being rejected, it’s actually very doable… even if you thought you never could sell!

The secret to selling is simple. You need to have an organized sales process. Let me explain.

You need to carefully analyze each step of the sales process and optimize them all.

Here are a few critical steps of a classic sales process. Finding your sales points, preparing your sales materials, searching for prospects, reaching out to them and then following up.

You will want to spend a lot of time working on your sales process. Making sales is incredibly important for most businesses. It will generate the revenue you need. If you do it well, you could make A LOT of money.

Here’s my final advice when it comes to selling. View the sales process not as trying to convince a prospect to buy something they don’t want, but instead as trying to inform them about your great product or service that you believe could truly help them.

start-your-own-business-sales
Selling doesn’t have to be painful. When talking to a prospect, explain how your business can genuinely help them.

So, in a nutshell, get prospects and leads that match your target market and tell them how you can address their pain points.

Conclusion

In conclusion, there are 5 major crucial steps to starting your own business:

– Commit to your business

– Choose the best business idea for you

– Differentiate your business and create your strategy

– Get the money you need and learn how to project your finances

– Develop your marketing and find your first customers

Success in business will require more than hard work and good luck, it also requires making the best decisions from the start. In addition to these 5 critical steps, there are a ton of other issues and things to do when starting a business. Just wrapping your head around these decisions is a lot of work.

You need to identify and learn about each step in starting a business. You have to make the right decisions from the start if you want your business to succeed! Remember, if the foundation is weak then the business will crumble.

I strongly believe that you are much more likely to be highly successful in business if you learn about business before you start and that you carefully plan out every step of the business in advance. In other words first “plan the work” then “work the plan.”

Starting your own business may sound like a dream, but I’m telling you, it is possible! You just need to follow the right advice and make the right decisions.

Don’t spend your whole life wondering if you could have done it…Instead just do it! Start by learning more.

I promise you, there is nothing better than being your own boss and building a highly successful business you can be proud of.


Bob Adams

Bob Adams is the founder of BusinessTown the go-to learning platform for people starting and running their own businesses. Bob has started dozens of successful businesses, including one he launched with $1500 and sold for $40 million. He also has an MBA from Harvard Business School.

BUSINESSTOWN’S #1 BEST SELLING COURSE

Start-a-Business 101

Learn how to start your own business.

Start-a-Business 101 is a complete program for starting your own business.

  Find a great business idea. You’ll get my 6-step method for finding a great business idea. Plus you’ll get my insight on hundreds of proven, money-making businesses that you can start.

 Turn your idea into a profitable business. I’ll take you through every step of starting a business from finding your idea, to turning it into a solid business model, to making your first sales.

 Attract customers without spending a lot of money. You’ll get a ton of my free and low cost ways to land customers. From simple “guerilla” marketing tactics to the latest in digital marketing, I will show you every way imaginable to pull in customers on a shoestring budget. 

 Start small and grow as fast as you want. I’ll show you how you can start small, even part-time if you prefer, and build a highly successful business. You don’t need a lot of time or resources – but you do need to make the right decisions on key issues – and I’ll show you how to do it.

 Get proven strategies and insider advice. You’ll get the exact same methods I used to build one business after the next. I’ll tell you how to avoid problems. And I’ll show what to do at each step of the way, to start your business right.

 Try it risk-free for 60 days. You can try the whole course and then decide if it’s right for you. If you don’t love it, I’ll give you a 100% refund.

 You so inspired me that I started a business and have started receiving orders. Your videos about how to pick a business to start really got me going after I followed your steps to a tee. Thanks so much!

Bill Bennett – Business Owner

Start a business you love, earn more money and live the life you want. With Start-a-Business 101 you can…

Be your own boss. Enjoy true independence and be the star of your own show. Work when and where you want.

Start a business you love. You’ve got one life to live – so why not start the business of your dreams? I’ll show you exactly how to do it.

Make more money. Use my proven strategies to earn the highest profits possible and make a lot more money than you could at a 9-to-5 job.

Start-a-Business 101 is perfect for you…

If you don’t have an idea yet.

Start-a-Business 101 includes the proven 6-step method for finding a great idea. Plus you’ll get hundreds of proven, money-making ideas.

If you have an idea but are not sure where to start or what to do.

In Start-a-Business 101, you will learn exactly how to start your own business from start to finish. You will have access to dozens of videos, worksheets and templates that will walk you along the way.

If you want to make sure that you are doing things right.

Start-a-business 101 covers all the common mistakes that entrepreneurs make when getting started. No room for errors, you will learn how to start your business right.

If you want to get guidance and know exactly what to do at any given time.

Follow my step-by-step process that will get you on your way to business success. It will be like having a business coach by your side at all times.

If you want to start any size business or any type of business.

Start-a-Business 101 will help you start any size of business from a one person home-based business to a larger business. And it will work for any type of business including all service businesses, product businesses and Internet businesses.

If you want to become a knowledgeable entrepreneur.

By watching just one video lesson a day, you will quickly become a knowledgeable entrepreneur. You will be ready to start your own business now or at any time in the future.

Hi there, I’m Bob Adams.

I’m a serial entrepreneur and self-made multimillionaire.

I’ve started dozens of successful businesses of all types and sizes including … bike rentals, house painting, employment service, retail business, multimedia company, book publishing, tourist maps, job fairs, Internet businesses, software business, employment advertiser, and used boat sales. 

Most of these businesses I started in my home on a very small budget. 

My biggest success is my book publishing company that I started in my basement apartment with just $1500 and later sold for $40 million. 

I’ve learned what really matters in business. I’ve discovered the concepts that make or break businesses. And I’ve used them to build one successful company after the next. 

Now, my mission is to share what I learned with you – so that you can succeed in your own business. 

That’s why I created Start-a-Business 101.

Success = recipe + ingredients

In Start-a-Business 101, you will get my exact recipe and ingredients for success. I will show you what to do at every step in starting a business. 

You’re not going to go through years of trial and error. 

You won’t have to make mistakes or learn anything the hard way. 

Because the recipe for business success is waiting for you in my course, Start-a-Business 101

In this course you will get the same proven strategies and tactics that I used to create my successful businesses.

My books and courses have been featured in…

Start-a-Business 101 will show you exactly what to do at each step of starting your business.

You will get proven strategies, real-life examples, ready-to-go templates, checklists and worksheets to help guide you along and save you time. 

You won’t have to guess what you should do next or if you are doing things right.

 You will be following the best advice available today. 

You will be getting the same techniques and strategies that I used to build one successful business after the next including the one I started with $1,500 and sold for $40 million. 

You will put your startup on the fastest and most proven path to success.

Here’s the course for your new business journey. Beginning entrepreneurs will hugely benefit from Start-a-Business 101. The videos clearly explain each element of building a new business. The advice is savvy and on point throughout. I highly recommend it for anyone involved in any kind of startup.

Rick Williams – Managing Director, Williams Advisory Partners LLC

Learn at your own pace and on any device

All devices

You can access Start-a-Business 101 on all your devices, including your computer, your tablet and your smartphone.

Instant access

Get instant access to the entire course, including all the video lessons, all the tools and the discussion board.

Learn at your own pace

Watch just one video lesson per day and you will complete the whole program in about 10 weeks. Or you could even binge watch the entire course in one weekend. It’s up to you!

Full lifetime access

You can access the entire course as long as you want and as many times as you want. For example, you could go through the entire course to quickly build your entrepreneurial knowledge. Then you could go back to specific lessons as you are working on various aspects of your business.

Watch the overview video

 I found great value in the BusinessTown courses. The program is comprehensive, covering everything…It’s like having a team of experienced advisors available 24 x 7.

Dan Sterling –  Founder, Water Hero

Start-a-Business 101 gives you everything you need to start your business.

Rock-solid advice

You will learn my proven strategies and tactics for starting your own successful business.

Easy to follow videos

You will be guided step by step through the whole process by 76 short and easy to follow videos. 

 Business tools

You’ll also get 46 downloadable templates, worksheets and samples to guide you along.

  Start-a-Business 101 Course Content

1.  How to get started with your business

2.  Discover hundreds of great business ideas

3.  How to choose the best business idea for you

4.  How to validate your business idea

5.  Find the perfect name for your business

6.  How to choose the best legal entity for your business

7.  How to create a powerful competitive advantage

8.  How to create your business plan

9.  How to do your accounting and financial statements

10.  How to get the money you need to start your business

11.  How to create your marketing and attract customers

12.  How to build your online marketing presence

13.  How to make sales and land your first customers

14.  The Small Business Toolkit

15.  The Discussion Board

Every step of the course is filled with videos and companion tools to show you exactly how to start your business.

Start-a-Business 101 includes 46 templates, worksheets, checklists and samples

These tools will save you a lot of time, keep you organized and further guide you along the way to launching a successful business as soon as possible.

Fill-in the blank templates make it easy to plan your business.

Watch sample videos

Looking for a business idea? Discover the critical questions that you must ask to find the very best idea for you.

Learn how to create a one page business plan – the most important document for starting your business.

Learn how to find the best customers for your business.

Discover how to create a unique sales message for your business.

   Having run across your videos was a godsend to me. Your method provides me the structure I need to be successful. I am willing to put in the work to go through your complete course which so far has been incredibly helpful.

Phyllis Marks – Starting an Online Business

Will Start-a-Business 101 work for me?

This course is made for you:

  • If you want to generate a new income stream.
  • If you don’t have a business idea yet but want to be your own boss.
  • If you have an idea but are not sure how to get started or what to do first.
  • If you are ready to get started but want to make sure you are doing things right.
  • If you want guidance from someone who has done it before – multiple times.

Start-a-Business 101 will work for all types of businesses. And it will work for all sizes of businesses from one-person home-based businesses to larger enterprises.

Don’t have an idea yet? No problem. I will give you my 6-step process for quickly finding a great business idea. Plus I’ll show you hundreds of my best, money making business ideas, along with my insight on each one.

Wondering how to turn your idea into a profitable business? I will show you how to do it – every single step of the way.

You will learn how to plan your business, how to get the money to get started, how to do marketing, how to do accounting, how to make sales, how to set up your website and much more. You will have access to all my tools – including worksheets, case studies, checklists and templates – that will save you time and money.

I can promise you that you will get the very best strategies and ideas available today. You will get the exact techniques that I used to build my businesses, including the one I sold for $40 million.

Still skeptical? I get it. Sometimes you have to see it to believe it.

I got you covered. You can take this whole course completely risk-free.

You can test drive the entire course for 60 days.

That’s right. You can have full access to the whole course for 60 days. If you decide it’s not for you, or if you don’t love it, I’ll give you a 100% refund. No questions asked.

I can’t promise you that your business will absolutely succeed. No one can.

But I can promise you that I will give you the very best strategies and ideas for every step of starting your business.

And I stand behind that with my 60-day, 100% money-back guarantee.

I want you to start a business. And I want you to start it right.

 I have researched the marketplace for over a month to identify a viable and comprehensive ‘go-to’ guide on how to best launch a small business. This course offering from Bob Adams met more than what I was looking for.

Steve Cox – Experienced Businessman

Get Start-a-Business 101 and get $750 in bonuses – free

I am pleased to tell you that I am adding two limited time bonuses to Start-a-Business 101

These bonuses will make it even easier and quicker to get your own business up and running. 

The Ultimate Checklist to Starting Your Own Business 

This 18 page checklist will show you exactly what to do to start your business.

This extremely comprehensive 18 page document includes all the steps to start a business. Plus I give you my expert advice on every single step. 

This checklist will keep you totally organized and make sure that you are not missing anything important. 

This checklist is the ultimate shortcut in getting your business up and running. It will be your constant companion in starting your business. The checklist has a $500 value but I will give it to you as one of my welcome gifts for joining Start-a-Business 101.

How to Launch a Business Fast and on a Tight Budget Using MVP

Use this video to start your business fast and on a tiny budget.

The second bonus is a game-changing video/lesson. In this video/lesson I will teach you the concept of Minimum Viable Product, or MVP. 

You will learn how to start your business faster and for less money, than any other way possible. 

This important video/lesson has a $250 value but I will give it to you as one of my welcome gifts for joining Start-a-Business 101

So consider joining Start-a-Business 101 now if you want to get these limited-time free bonuses – a $750 value.

 Bob has been a close friend and trusted business adviser of mine for years… guiding me through the challenges we all face as entrepreneurs. Hands down Bob is one of the most talented, and successful entrepreneurs I know. Thanks Bob!

Matt Marshall – Founder, MGM Capital Investments

Frequently Asked Questions

When does the course start and finish?

This online course is completely self-paced – you decide when you start and when you finish.

How long do I have access to the course?

After enrolling, you have unlimited access to this course for as long as you like – across any and all devices you own.

What if I am unhappy with the course?

If you are unsatisfied with the course for any reason, please contact us within 60 days and we will give you a full refund, no questions asked.

What are the course requirements?

This course is for anyone thinking about starting a business. You don’t need to have any previous business experience whatsoever. Even if you have business experience, you will discover a vast amount of powerful new ideas that will help propel your business ahead.

Can I download any of the content?

Of course! All the worksheets, case studies, samples, and templates are downloadable.

Start a business you love, earn more money and live the life you want.

Start-a-Business 101 is the fastest and easiest way to learn how to start a business and become a knowledgeable and successful entrepreneur.

Start-a-Business 101 is a complete proven program that will take you step-by-step through your entire startup journey.

You will get…

  Easy-to-follow videos

  Ready-to-use tools

  Discussion board

  Inside advice

  Proven strategies

  Complete lifetime access

In just a few minutes a day, you will learn how to start your own business.

You can test drive the entire course for 60 days.

That’s right. You can try Start-a-Business 101 risk-free for 60 days. You will have full access to the entire course. If you decide it’s not for you, or if you don’t love it, I’ll give you a 100% refund. No hassles. No questions asked. I want to help you succeed in your own business.

BUSINESSTOWN’S #1 BEST SELLING COURSE

Start-a-Business 101

Learn how to start your own business.

Full Lifetime Access 

60-Day 100% Money-Back Guarantee

Only $19.95

Start-a-Business 101 is only open for a limited time.

Get on board now if you want to make sure you don’t miss out.

Questions? Email bbisson@businesstown.com

Copyright © 2019 BusinessTown LLC. All rights reserved. BusinessTown ® is a registered trademark of BusinessTown LLC.