Always wanted to be in business, but don’t know where to start? This list of steps summarized from our workbook will help you get started. Download the free workbook for additional information and guidance.

Step 1. Is Enrepreneurship for me?

Running a business is more than just having a great idea. Do a realistic inventory of your skills and evaluate whether you have the skills you’ll need to operate a daily business on a daily basis. Major in your strengths and figure out where you’ll need to find help to shore up your skill gaps.

Step 2. What business is right for me?

There are endless options for owning your own business. My strongest recommendation would be to find something you’re passionate about and find a way to make money from it.

Step 3. Research the market.

Taking a look at who is doing what in the marketplace is a key piece of planning your business. Working through this step will help you refine your target market and give some clear directives related to the viability of your company.

Step 4. Refining your niche.

Once you have defined your target market, you know exactly what their needs are and you can refine your product or service to meet those needs.

Step 5. Laying the foundation.

Writing a business plan with help you think through your business model.

Step 6. Creating an identity.

Your business’ name and mission are a large part of creating your company’s brand.

Step 7. Business structure basics.

Sole Proprietor, S Corporation, Limited Liability Company – decide which type of structure is best for your business and then register with the appropriate authorities.

Step 8 Start-up essentials.

As a new business owner, you’ll need to take care of some essentials – tax ID #, bank account, office set up, professional services, etc.

Step 9. Financing your business.

There are many sources for funding with some easier to get than others. Analyze the sources available to you and decide which best suits your needs.

Step 10. Make connections.

“Your network equals your net worth” – Mark Victor Hansen

Step 11. Marketing your business.

When most business owners think of marketing, they see big dollar signs attached to it. There are many ways to market a business. Some are expensive, but many are not. Some of the most effective methods of marketing are very low cost.

Step 12. Positioning yourself for success.

Set your goals and check your progress along the way.