Entrepreneur

5 Things You Must Do to Successfully Launch a Business

Let's get down to the basics.

The effort required to launch a new venture can seem daunting. Of course, specifics vary based on the type of business you're establishing; manufacturers face unique challenges, as do retailers and consulting firms. But once you have your concept and your finances in line, there are some basics that are universal.

We talked with business owners, consultants and professors to boil down the bare necessities of getting a startup off the ground into a handful of manageable steps. Apply these fundamentals to your own industry, and you'll be ready to tackle the specifics of creating your successful business.

1. Validate your idea.

Einas Ibrahim, founder of Talem Advisory, a New York City startup consultancy, says the biggest mistake she sees new entrepreneurs make is starting to work on a business idea before confirming that there is

You're reading a preview, sign up to read more.

More from Entrepreneur

Entrepreneur3 min read
Having Trouble Selling Your Product? Rethink Your Sales Force
When police-uniform brand Her BlueWear struggled to sell its products to cops, it built a sales team its customers would trust.
Entrepreneur3 min read
E360: Success Is About More Than Revenue
Each year, the Entrepreneur 360 list celebrates well-rounded companies that are growing, thriving, and building legacies. Here's how we identify them.
Entrepreneur2 min read
How Mailchimp's Headquarters Fuels Creativity
Mailchimp wants its employees to think creatively -- and the company will do just about anything to get its staffers’ minds to open. The online marketing company hosts weekly innovation labs, design studios, and brainstorming sessions. Once a month,