What are the first 3 steps to start a business?

+1 vote
asked Feb 28 in Employment & Careers by efirst (130 points)

Those three things are: knowledge and expertise; strategy; and execution.

  1. Knowledge and expertise. The most successful entrepreneurs I've worked with have an advantage of an acute knowledge in whatever industry they are targeting. 
  2. Strategy.
  3. Execution.

3 Answers

0 votes
answered Mar 6 by jacquecs (2,350 points)
The first 3 steps to start a business are also get a business plan written out, get financing and also start an LLC.

You also need to advertise to gain a customer base which will cost some money but when you spend the money on advertising and do the advertising correctly the money will come back to you and you'll profit.

Starting an LLC helps protect your personal assets from your business in case of failure of the business.

In some businesses it may take as long as 5 years to make a good profit and in some other businesses you might profit as soon as the first year or less.

So don't be disappointed if you don't profit from your business in the first few years.

I've had a business take 5 years before I really started making a profit and then later it made more money.

I was gonna give up but thankfully I didn't.

I then sold that business a few years ago because I was just bored of it and wanted to do something else.
0 votes
answered Mar 9 by herdas (3,810 points)

What about some offline marketing ideas? Do you think they are good? I like making some promo items like Die Struck Pins, for example. They are really cool and work well I guess

0 votes
answered Mar 27 by andiduferense (140 points)
Thanks for the information

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