Categories
Business Small Business

How to start a small business in 13 steps: Best ways in 2023

Starting a small business so you can work remotely at home or anywhere in the world and control your income potential is a good investment.

And if you are like most people, you are looking for simple resources to help you begin the process.

This guide will show you how to start your own small business successfully online or offline with super easy steps.

These are the best ways to launch businesses that have proven to work for all types of small business entrepreneurs.

How to start a small business in 13 easy steps

Starting any business (small and big) requires resources, tools, planning, etc, to be successful.

Below is the step-by-step you need to set up your business quickly with limited hassle.

These are some of the same methods I have used to open businesses for myself and others.

1. Begin with the right idea

If you are wondering how to start a business easily, you need to come up with a great idea first.

When you find the best idea, you should work on it further, determining how the service or product can solve customer issues.

To do it correctly, conduct sufficient research.

Make sure it will be lucrative

If you want to start your own small business, you want it to be lucrative and have some potential to grow.

Small businesses can be very rewarding if done correctly. You would need to conduct great market research to see how the business can touch the lives of your consumers and how much it is needed.

Look at the competition as well. The best way to go is to pick an area that is not already overcrowded.

If you decide to go with a niche that is competitive, do serious research on how to market, sub-niches within that field to conquer, etc.

2. Decide how to run it(Online, offline, at home)

This is an important step that you have to decide on. Today, many people are online. Many people opt to start a small business online as it is a new and profitable trend.

The best thing to do is to combine the different options. Even for a physical business, you can also go active online by starting a business website to attract clients.

You can also choose to run the business at home, especially when you have very little capital.

3. Pick a business name

When starting your own small business, one of the most important parts is naming it.

You want to choose a name that is brandable, SEO friendly if possible, etc.

How do you come up with one?

You can use this business name generator for some ideas.

4. Choose the right business structure

Selecting and registering your small business structure is essential.

For example, starting your business as an LLC offers better protection to you, your business, and your assets than running it as a sole proprietor.

5. Register your business

An important step when you start a business is to register it in a state it will or wants to operate from.

Registering a business properly allow you to meet the legal requirement of that state and legal protection.

How to do it:

You can easily register a business on your own using online tools.

The best ways I found to register your small business is using websites like:

  1. ZenBusiness is best overall for registration of all types of businesses
  2. Legalzoom is best for legal services too

6. Business tax ID

One of the important steps to follow when starting a small business is to obtain a tax ID for it.

There are advantages to businesses that have this ID. This ID expands your business options.

It also comes in handy when expanding your business and hiring employees.

Pass-through taxation is the other advantage, as well as asset protection. This ID allows the small business owner to set up a retirement plan, get business loans with a bank or the Small Business Administration (if a U.S.-based small enterprise), etc.

7. Permits

To protect yourself and your business legally, do research to see what type of permits you might need.

Some of these permits could be state, federal, city, and/or industry permits.

8. Open a small business bank account

When starting a small business, setting up a business account is important.

Separating personal funds from business funds is one of the wisest things to do.

This is the best way to monitor your finances and growth in one place. It makes bookkeeping very easy, and you can tell whether you are doing well or failing miserably.

A business account can also be used as a basis for banks and other financial bodies to determine your credit score in case you want to expand or need one.

9. Create a website

Whether you choose to run your start-up as an offline or internet-based business, you still need to build awesome business web pages to represent your brand.

Starting a website for your business has many benefits such

  • blogging for lead generation
  • branding
  • generating leads with your product /service pages
  • letting people learn more about your service or product offers

This is a quick overview of how you build your website:

  • Start with a domain name that's short and memorable. You can find one on Namecheap for $6.99/y or for free with BlueHost if you sign up for hosting service with them.
  • Buy web hosting, we recommend BlueHost or Hostinger if you have limited financial resources but if you can afford 20/m WPengine is the way to go for WordPress.
  • Install WordPress sofware.
  • Select fast loading theme (Neve, GeneratePress, or Default WordPress theme).
  • Hire cost-effective developers from Fiverr or 99designs or use page builders from Leadpages.

10. Do marketing

Implement the following to expose your small business to the world and generate customers.

  • Business cards - Printing business cards are also helpful to hand out
  • SEO - One of the best ways to promote both new and existing businesses is through search engine optimization( SEO)
  • Blogging - Use blogs to rank on search engines
  • PPC - If you have the funds run pay-per-click campaigns on Google or Bing
  • Social media - Create the best profiles on social media platforms

11. Seek funding

Every business startup needs funding, whether through self-funding or getting it from lenders or family members.

Part of this is knowing or having an idea of how much you will need.

12. Get a business insurance

This is another step entrepreneurs should do when they start a small business.

The reason you need this for your business is that accidents can happen, and once they do, your insurance can help you settle such damages.

Failure to do so means you must cover them from your pocket. With insurance, you don’t have to worry all the time. You can concentrate on business growth.

They keep you protected.

13. Use tools to save time and limit stress

Starting a business without using some helpful tools is a bad idea.

The right business tools will save you a lot of time and stress so you can focus on doing the activities that you ENJOY.

Payment processing

Since you are starting a business to make money, you definitely want to figure out how you will get from clients.

Here are some payment tools to consider, especially for small businesses:

  • Payoneer is the best zero to low-fee payment processing platform for international transactions.
  • Square
  • Stripe

Marketing tools

  • Leadpages
  • SemRush

Emmanuel Okeke

A Los Angeles resident who loves to write awesome guides on SEO, WordPress speed/security, content strategies, business and personal finance, digital and growth hack tools, legal stuff, etc, that are helpful to businesses, solopreneurs, bloggers, and consumers.

What I write about is based on tests, extensive research, and 11+ years of experience as a former Senior digital & content marketing consultant with a division of Thomson Reuters and running a successful digital marketing agency...[Read full bio]