The first step is to create a business plan. This should include the following (but your final document will cover far more):
- What is your idea, is there a market for it, and why will people buy it?
- Who else is on board? Who are the management and development teams?
- Who are your target customers, where are they located, and how will they learn about your brand (or company)?
- Who are your competitors and how is your product (or service) distinguishable?
- What are the financial projections and your budget for operations, advertising, sales, etc.?
- What is your vision for the first five years?
- How do you plan to achieve your projected milestones (or goals you want to achieve)?
If you're launching a product, step two involves designing a sketch, including your specs, etc. This can be accomplished with any of the available CAD software on the market (free or not). Google also has an application everyone can use - Google SketchUp.
Of course many things can occur in between and after, but the next major step (three) is applying for a license. Every state has business license requirements. Check the website of the department of revenue in your area and look for information on Business Licenses. Then, scroll for the type of business you are interested in starting. There should be detailed information on costs, requirements, and the amount of time it takes to process.
Next, you'll move on to financing, staff, commercial leases (if it's a brick & mortar business), building a website (for an online business) and selecting vendors for equipment, forms, etc. The number of decisions you'll tackle over time can be overwhelming, but the last important step can ease the pain. Find a mentor to advise in areas where you're not familiar, help you prepare for unforeseen problems, and introduce you to people you need to know.
