4 Steps To Start a Business

It’s possible to define [split] the timeline of any startup into 4 steps.
This can be helpful when starting a business to avoid wasting time (or money) when you discover you’ve hit a bottleneck.

There are 4 stages of a startup [lifecycle] are:

1. Research phase

This is where you’ll take your business idea and try to see what will be required to make it happen.

If you’ve never had a business before, you’ll need to start with learning some business basics and you’ll have to learn some fundamental business terminology.

You can learn about setting up

2. Planning phase

Here you will take what you’ve learned from the research phase and structure your findings into a plan.

You might decide to write a formal business plan to document your findings.

4 Free Business Plan Templates: Where to find them and what you get

3. Startup Phase

(My definition here is the first 30 days after launching start trading your business)
This is where the real action begins! If you’re serious about starting a business you should be really busy at this time as there will be a lot you need to achieve in a short period of time.

You’ll start to take the steps required to enable your business to function. This will include any registrations required, opening bank accounts, agreeing terms with suppliers, setting up your website and social media accounts and so on depending on the needs of your business.

4. Running and growing your business

And this is where things get real.

If you’ve put in the work at steps 1 to 3 you should be “in business”, quite literally.