Starting a small business is exciting but can also feel overwhelming at first. That’s why I’ve come up with 6 steps to start a small business that will help you to understand the whole process better.
Over the course of 10 years, I’ve tried multiple businesses and I really hope the information below will help you in some way. Whether you’re looking to open an e-commerce store, offer a service, or try your skills in online businesses, this blog post will be helpful for you if you are just starting out. So let’s dive in!
1
COME UP WITH A GOOD BUSINESS IDEA
Every successful business starts with a good idea (and, despite the common opinion, it shouldn’t be 100% unique or something that nobody has done before). The most important thing is that this idea should solve a problem or fill a gap in the market. Do your research before starting any business - I’ll explain more about this part in a few minutes.
Another aspect is to reflect on your passions, skills, and the industries that interest you. It’s important to choose something you’re excited about because, as a business owner, you’ll be spending a lot of time on it and it is much harder to keep going if you do something you hate.
HERE ARE 15 OF THE MOST PROMISING SMALL BUSINESS IDEAS:
✨ Online coaching business
Lately this industry is incredible popular! Whether it’s business, fitness, wellness, or life coaching, people are increasingly turning to online coaches for guidance, so this is something that has a great demand and can be used as a good business model.
✨ Sustainable products store
Eco-friendly and sustainable products are in high demand, and a store that focuses on green alternatives can tap into a growing market.
✨ Digital marketing services
As more businesses go digital, offering SEO, social media management, and content creation services is a lucrative idea. But before starting earning money, you need to learn a lot and have enough experience in order to be able to offer your services.
✨ Subscription box service
Curating monthly subscription boxes for niche markets (e.g., self-care, fitness, or pet products) is gaining popularity and can be something very profitable if done right.
✨ Home cleaning services
With the rise of remote work, people are investing in home services to maintain a clean and organized environment. Besides, for this business model you usually don’t need to invest a lot of money or learn some special skills.
✨ Virtual assistant services
Providing administrative, bookkeeping, or customer support remotely is a booming opportunity, especially for online businesses.
✨ Online courses and workshops
Sharing your knowledge and expertise through online learning platforms is a scalable and profitable business, but as with most of other online businesses, you should learn how to market your product in order to get traffic for your website/landing page.
✨ E-commerce store
Selling products online, either through dropshipping or a dedicated e-commerce site, continues to be a thriving business model.
✨ Personalized gifts
Offering custom-made products like engraved items, artwork, or personalized clothing appeals to customers looking for unique gifts.
✨ Health & wellness consulting
Helping individuals improve their wellness through tailored diet plans, fitness routines, or mental health coaching is on the rise.
✨ Freelance writing
With content in demand for blogs, websites, and social media, freelance writing is a flexible and scalable option.
✨ Mobile car detailing
A convenient service for busy car owners, mobile car detailing allows you to meet customers where they are.
✨ Event planning
As in-person events return, event planning services for weddings, corporate gatherings, and parties are back in demand.
✨ Pet care services
From pet-sitting and dog-walking to grooming services, the pet care industry continues to grow steadily.
✨ Interior design consultation
As people invest more in their living spaces, offering interior design advice—both online and in-person—can be profitable.
Here are just a few options you can think about, but there are so many other business ideas - you should definitely do your own research and find something for yourself.
Once you’ve narrowed down your options, you should validate your idea - and that’s exactly what we are going to talk about below.
2
DO COMPREHENSIVE RESEARCH
Once you have one or a few business ideas in mind, the next step is to do your homework - proper research. You must understand your market, figure out who your ideal customer is and get a clear picture of what your competition is doing. Otherwise you can spend months on a business model that has no potential.
First things first, check if there’s demand for what you want to offer. One of my go-to tools for this is Google Trends. It’s simple but effective—it shows you how much interest there is in a specific topic over time. If your idea is location based, take some time to look at your local market.
Understanding your competition is just as important. Tools like SEMrush and SimilarWeb can give you an inside look at how your competition is performing online. You can see what they’re doing right, whether that’s with keywords or traffic strategies and spot areas where they might be weak. Personally I’ve found this super helpful. It’s like getting a behind the scenes look at your competition so you can figure out how to differentiate yourself.
Also check your competition on Google Reviews and see what people are complaining about. This way you’ll get a feeling of what you can do differently/better to address these issues in your business and meet peoples needs better.
Social media is also a goldmine for customer preferences. Tools like Hootsuite or Brandwatch help you keep track of what people are talking about across different platforms. I’ve used these to get a better sense of trends and customer sentiment and it’s been a game changer. By staying on top of what’s happening on social media you can tweak your business idea to match what people actually want so you’re not just blending in with the crowd.
With the right tools and a bit of effort, you’ll have the knowledge you need to make smart decisions and stand out in the market.
3
WRITE A BUSINESS PLAN
A business plan is your blueprint for success. It outlines your goals, strategies and how you will achieve them. A good plan is also a useful tool if you’re looking for investors or loans as it shows you’ve thought through your business’s future.
There are lots of business plan templates (both free and paid), and you can find a template of it in our Full Branding Kit.
But in most cases, it should consist of the following parts:
Your business plan starts with an executive summary. This is a brief overview of your business, its mission and what makes it unique. Then a company description, what your business offers and how it solves the problem for your target market.
Then market analysis. Use the research you’ve done to describe the current market, your target market and your competition. Then organisational structure. If you have partners or key team members describe their roles and experience.
In the marketing and sales strategy section, detail how you plan to attract and retain customers. This could include your advertising plans, sales funnel, and any partnerships you’ll use to promote your business.
Finally, include your financial projections. This section should cover startup costs, expected revenue, and your funding needs. Be sure to factor in both short-term and long-term financial goals, as this shows you’ve thought through the viability of your business.
4
DECIDE ON YOUR BUSINESS NAME AND BRAND IDENTITY
Your business name and brand identity are the first things potential customers will notice, so they need to be memorable. Choose a name that’s easy to pronounce, unique, and reflective of your brand’s values.
You’ll also want to make sure the domain name is available and check that it’s not already trademarked. For doing this, you can use any domain register like Name.com or similar. But be fast as if after checking the domain you are interested in you don’t buy it within a couple of days, it will most likely be purchased by domain agencies, so keep this in mind.
Once you’ve settled on a name (you’ve registered your domain and a business name), start developing your brand identity. This includes your logo, color scheme, and overall aesthetic. Everything from your website to your social media posts should be consistent in style. That's why I've created these Full Branding Kits that help you brand your business in just a few clicks:
Also, think about how you want customers to feel when they interact with your brand. Are you aiming for a professional, approachable, or fun vibe? The more consistent and aligned your identity is, the stronger your brand presence will be.
5
GET YOUR FINANCES IN ORDER
One of the most important steps in starting a small business is getting your finances sorted. Begin by calculating your startup costs, which could include everything from purchasing equipment and inventory to marketing expenses. It’s essential to have a clear idea of how much money you need to launch and sustain your business for at least the first six months.
Next, think about how you’ll fund your business. Some entrepreneurs use personal savings, while others seek loans or investments. If you decide to pursue external funding, make sure your financial plan is solid.
Don’t forget to open a business bank account to keep your personal and business finances separate. Additionally, consider using accounting software or hiring an accountant to manage your income/expenses and ensure you stay on top of taxes and cash flow.
6
MAKE EVERYTHING LEGAL AND OFFICIAL
When all previous steps are done, it’s time to make your business official and take care of all legal aspects. This involves choosing the right legal structure, such as a sole proprietorship, LLC, or corporation. Each structure has its own implications for taxes, liability, and legal protections, so you might want to consult with a legal professional to decide which is best for you.
After choosing your business structure, you’ll need to register your business with the appropriate local or national authorities. Depending on your industry and location, you may also need specific licenses or permits. For example, health and safety regulations might apply if you’re opening a food-based business or a physical storefront.
Finally, take steps to protect your intellectual property. If you’ve created a unique product or brand name, consider trademarking it to avoid legal issues down the road.
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Getting into business can feel like a huge complicated process, but when you follow these simple steps to start a small business, you’re setting yourself up for clarity and peace of mind. From coming up with a strong business idea to conducting thorough research, writing a solid business plan, and getting your finances in order, each step is crucial. Once you’ve laid this groundwork, now it’s time to take action and build something amazing!
And, as always, let me know if you have any questions!
Are you ready to bring your business to the next level? Get a full rebranding of your business with our premade Branding Kits that includes everything from logos and business cards to flyers, brochures, ebooks, webinar slides and so much more!
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