There is no right or wrong when starting a business, but there are certain things which are unavoidable. Whether you are providing a service or distributing a product, you will need to carry out some research of your potential marketplace, you will need to talk to someone about raising finance. It doesn’t matter what the source of finance is – that’s up to you, but for instance, did you know that there are grants available and each state has its own set of rules? Unless you intend to start by working from home, you will need to locate premises and maybe even employ people. Once again, by far the best source of information (unless you want to spend days, weeks or months carrying out research) is a ready-made business adviser. For instance you may even want to start a franchise – and even in that case it is a good idea to seek professional advice.
As a guide, it is important that you:
have a clear business plan in place
have undergone self assessment to ascertain your suitability to the business you are planning to establish
ensure that you have all the necessary licenses and permits to meet all regulatory requirements that apply to the type of business you are planning to establish.