Got an Idea for a Business? – This Is How You Should Start It

When starting a business, you need to lay out everything backwards. You have to go from the big picture back to where you are today so you don’t miss anything and get into a situation where you give someone too much equity, deal with an unforeseen predicament, etc.

Write out what you want to do.

Build a mindmap dedicated to what you will need to do for your business.

Lay out an equity structure and think of the people you will need for your business.

Figure out who your target market is and get a deep understanding for who they are and what triggers them to buy.

Start recruiting a team.

Build a minimum viable product.

Start test marketing your product.

Get feedback from your consumers.

If it works, continue forward.

Originally posted on Quora.

Leonard Kim is Managing Partner at InfluenceTree. At InfluenceTree, Leonard and his team teach you how to build your (personal or business) brand, get featured in publications and growth hack your social media following.

 

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