The first step to any StartUp is coming up with a game-changing idea. And that’s where most get stuck.No business can thrive without the discovery of a great idea. But, then again, an idea needs to undergo proper development to transform into a successful business ventureThey say the first step is always the toughest. Once you know what product you want to make and what industry you want to be in, you start getting a direction of where and how to proceedTons of people build businesses around ideas that never appeal to the customers and thus those ideas never sell.

Market Research

Conducting market research is the first step to determine if you really do have an idea worth pursuing. Begin your research by writing down what you think the problem is that your business idea would be solving. Physically write it down and keep it in front of you.


Securing intellectual property

Intellectual property (IP) refers to the process by which an individual or company can own the rights to a created product. Examples include patents, copyright, and trademarks. It is vital to the success of your company that you follow the proper protocol to protect your differentiating factor.

Decide on Branding

Branding is about more than just choosing a name, it's about deciding on an identity for your idea. You want to choose something you love, but you also want to choose a name that conveys the experience of using your product and the problem that it solves.


Incorporate

Incorporating is a big deal for a startup because there are so many aspects of the startup lifecycle that affect it, and are affected by it. Incorporating is the process of turning your business into a legal entity and deciding how it will be structured. Typically, startups will be incorporated as an LLC, a C corporation, or an S corporation. Both LLCs and S corporations have special tax exemptions, while a C corporation is considered a taxable entity.


Business Plan

One way to set your startup off on the right pathis towrite a good business plan. Using the market research you did earlier, create your plan of attack and decide what you want to accomplish with your new business. Determine goals and milestones, and what steps you need to make it to those milestones.