How To Start a Business In 7 Steps

On this episode we'll discuss the basic steps in starting a business. If you're a first time entrepreneur it can be overwhelming. Before you start going too far into developing a product, buying a domain, building a website, etc. You want 1. Personal finances, what's your runway 2. Create a business plan using a Business Model Canvas - get clear on your product, target audience, etc. 3. Conduct competitive research, understand the marketplace and industry 4. Determine who you'll need on your team (mostly freelancers in the beginning) 5. Create a marketing & branding strategy 6. Understand the Sales process 7. Measure, and decide which KPI's you'll use Tips Books to read: 'Good To Great'  by Jim Collins  ‘The Lean Startup’ by Eric Ries 'Think and Grow Rich' by Napoleon Hill 'Traction' by Gino Wickman 'Outliers - The Story of Success' by Malcolm Gladwell 'The Little Red Book of Selling' by Jeffrey Gitomer 'The E-Myth : Why Most Small Businesses Don't Work and What to Do About It' by Michael Gerber Watch Ted Talks Spend some time on the SBA website Get a mentor with SCORE Stay away from spending money conferences, workshops, joining mastermind groups, business coaches, etc. Once you turn a profit and your have all your processes working then you can bring in outside council. Other resources: Finance: Nav.com Bookkeeping: Bench.co People: Hire using Growmotely Legal: Find an attorney on UpCounsel Marketing: Take a free course on Dadpreneur.co Stay organized and practice good mindset with the Mindset App!