How to start your own business: basics for young entrepreneurs


COMMUNICATED – Becoming an independent entrepreneur, you not only take control over your life but also increase your incomes working the way you like. Here is also a simple way to start with it.

Establishing your own business: a step-by-step guide

Not everyone knows that starting a business is as easy as starting a car: you just need some time daily and a good plan to turn your idea into the company that will bring benefits. Being an entrepreneur, you can choose when to work and when to have fun, pick projects that you believe in and meet valuable people attending relevant events. All this you can do even without an LLC, a cozy office, or a team of employees: you just need the right strategy.

Easy steps to start your business

Getting started is not hard, especially if you move by little steps in the right direction. Here is what you can do to start earning on your own:

Step 1. Think about a business idea and a plan

This is one of the main obstacles on the way to establishing a company. Many people cannot come up with a worthy idea and overcome this barrier. You need to create something really valuable, required by the market and be able to attract the customers which will directly impact your incomes. Try to find your strengths: what skills and experience you have, what things you like and can do well, what of these things can be monetized, what solutions you already pay for that can be required by the customers. Thus you can find at least three to five ideas and transfer one of them into a solid business plan.

Step 2. Choose a strategy

Once you find an idea, there are more important things to think about: the purpose, the customers you are selling to, and your end goals. All of them can be described in a well-composed business plan that can be presented to your investors. The document should be well-written and structured, so if you lack writing skills, you can find help in assignment writing online just like you did when you were a student typing in search “do an essay for me”. A business plan will help you to figure out where the company is going and predict the difficulties you should overcome on your way to success.

Step 3. Find your clients

It doesn’t necessarily mean cold calls or emailing where the competition will not let you move anyway. Putting more effort into this and creating accounts on different freelance services will help you make contacts and generate leads. Crafting a perfect pitch is only the start of customer relationship establishment and management. Once you get your first clients, the process will go easier as you will get great recommendations and useful connections.

Step 4. Post and advertise

Before you start providing your service, it is important to build up your personal brand and make it recognizable by the masses. A memorable logo, website, and social media presence will help to create recognition attracting more target audience. A marketing plan also includes online and offline advertising making this recognition even bigger.

After you reach the point when you understand that you want to get more profit, scale and invest more into your business, you can grow your company into a legally recognized entity: register a business name in the government, open a company bank account, apply for all necessary licenses and permits and receive federal and state tax IDs.

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