Have you ever wondered how it feels to be the boss of your own time? To be financially free but also secure? Have you ever wondered about how to start a business? Well, then you came across the right blog post! We’ll will break the ice for you today and make your entrepreneurial journey easier with our small business guide. Let's go!

1 - Put your idea together

"How can I start a business from scratch?" By putting the tiny puzzle pieces of your idea together! Before making plans for sales and marketing, you should define your vision. It is the base of all other steps followed after this one. If you can't think about anything specific, ask yourself, "What am I good at? What do I know and have some understanding of?" This may help you refine the first base of your future brand.

Afterward, you should decide what you want to offer and what you want to bring to the marketplace. Is it a product, or is it a service? What kind of area is it a part of? Are you selling something only used for fun, or does it have educational purposes? Define your selling as much as possible to make the mentioned base more substantial.

Always remember the target group you want to put focus on; is the product/service for children, teenagers, or adults? If we talk about the "adult group," what is their living situation (finances, do they have families, are they living in cities or small villages, etc.)?

And last but not least, brainstorm the name of your brand. Think about something simple, catchy, and also short. This may be easy to say but hard to create. You can use online company name generators such as Looka or Namelix to help you solve the issue (if it is).

2 - CHOOSE your design

Once you set the base, it’s time for fun, aka colors! You should choose the primary colors and shades for your design which you will need within some time. It is ideal to pick at least four main ones which will represent your brand. If you are unsure which ones are the best, you can go for the color palette generator, which will pick them for you, or you can use it only to check if the chosen colors look good together.

Once your palette is set, we can move on to your logo creation. Remember that the logo will always be connected with your business, so if you need extra time for its creation, don’t hesitate to take it. The easiest way to create one is by using Canva (we have many Canva tips and tricks), which can make the whole process faster.

Nevertheless, if you’d like to have the logo made more professionally and don’t want to waste your time on that, you can go to freelance websites such as Fiverr or Upwork and get it done by freelance designers. After your logo is done you can go to print-on-demand webistes such as Printify and place your brand upon on-demand printed products you'd be interested in.

3 - Make a business plan

By determining a business plan, you should be able to fill in all of the points we have prepared below:

Executive summary: highlights and goals of the company + ways how to achieve them
Company description: why your company is the best one to choose? What problem are you solving? What are you bringing to the table?
Market analysis: trends, growth rate, market analysis
Products/services: what is outstanding about them? Why
Mission and goals: what are you trying to accomplish
Organization and structure: risk management strategy, qualifications, corporations

Creating a business plan can be daunting, especially with limited experience. Fortunately, business plan writers and consultants can help navigate the process efficiently.

4 - Set Your Finances

The 4th point of our small business guide is that you should calculate the approximate financial capital. Ask yourself about expenses (services you need for once/monthly/annually, office rent if there is any, etc.), the profitability of your business in total, and the single price of your offered products/services. The more detailed the financial calculation, the fewer unwanted surprises will appear. Also, ensure you don’t waste money on things you don’t necessarily need. Consider incorporating high-interest savings accounts into your business's financial strategy. These accounts can optimize your cash management by generating higher returns, contributing to a more secure financial foundation for your company's long-term success.

5 - Consider all services you will need (think about your team)

You are now financially prepared, so it’s time to spend your capital (sensibly and reasonably)! Before the saved finances start saying goodbye to you, ask yourself, “What am I able to create and give to my own business? On the other hand, what am I not?”. Thus, think about time management, too.

6 - Location

Continuing with our small business guide, even though it may not be a super important point, a pleasant environment can significantly impact your business. Choose a location that suits you the most and where you feel nice. Also, consider the office space if it is enough/not too big, and if you are going for the rented one, make sure it matches your set finances.

7 - Register your business

Registering your business can vary depending on the country you live in. Once you decide on the business structure with the local governmental agency, you can check on permissions of everything else you need: focus especially on the regulations regarding manufacturing, shipping and route planning for your team to distribute your products in the regional market. Here are other matters you should check before registration;

Your name, business company name + necessary personal and business information
Permits that can be required
EIN (Employer Identification Number)

8 - Purchase insurance

Insurance is always a great choice because you never know what can happen. There are many types of insurance, from professional liability insurance and product liability insurance to workers' insurance. Also, it is always a good idea to look at a business owner's policy (BOP) which carries more insurance types in a package.

9 - Propagate your business

Your insurance is done. Also, your location has been chosen, design and everything are finally being set. So now it’s time to share your offerings with the world! You may be asking yourself, “But how and where?”. Let us help you out with our business guide!

First of all, we have a website creation. We believe that it is the base of the brand to have your own e-shop where you can represent yourself in the way you want to.

Following the paragraph above, the website can be shared via social media. So far, the best “business friendly” ones are Instagram and, recently, TikTok, which is slowly becoming even more popular and the most used one for propagating the products. If you are considering using TikTok as the central propagating platform, check out our blog post on the TikTok algorithm.

And, of course, we can’t forget about email marketing campaigns! Some companies have stopped using them, which we think is not a good step for a growing business. For more information, check out our marketing email strategies for 2023 and how they work.

10 - Keep growing!

The beginnings are always hard, but you will get to the dream point if you push yourself. Remember, it’s not only about our motivation when we enter the doors at the start but about discipline and consistency.

To sum it up, we hope you got the answer to the “How to start a business?” question and found our small business guide helpful and valuable.

How To Start A Business From Scratch