HOW TO START A
BUSINESS
With Docstoc CEO, Jason Nazar
Download this step-by-step outline on how to start
a successful business.
1
Table of Contents
Ideation ....................................................................................................................................................... 3
Protecting Your Ideas and Intellectual Property ........................................................................ 7
Business Planning ................................................................................................................................ 30
Setting Up Your Business .................................................................................................................. 32
Corporate Identity ............................................................................................................................... 49
Business Operations ........................................................................................................................... 51
Service Based Businesses ................................................................................................................. 54
Building a Physical Product ............................................................................................................. 59
Home Based Business ........................................................................................................................ 61
Raising Money and Financing ......................................................................................................... 62
HR Essentials ......................................................................................................................................... 63
Sales .......................................................................................................................................................... 68
Marketing ................................................................................................................................................ 72
Working With Vendors ...................................................................................................................... 78
Setting Up Your Business Dashboard........................................................................................... 79
Legal Considerations .......................................................................................................................... 81
Buying a Business ................................................................................................................................ 91
Resources for Small Business........................................................................................................106
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Ideation
Preparing:
- Do things that make you uncomfortable, go new places, meet new people
- Be curious, ask questions
- When you see a clever product/service/approach, consider what the questions are that
could have led to its creation.
Most common approach:
- Fill a need that’s already there, in an industry that always exists, and do it better
Summary:
Look very closely at businesses that exist, and their customers. Are there inefficiencies, could it
be more attractive? Consider how you can take that business and make it different, faster, more
targeted in some way. Consider, what is it about the business that customers love and/or want,
and what are the things that they don’t need/want. Focus on building out the former. People
want the same product, but not necessarily delivered in the same way. Move beyond old or
traditional methods, listen to your customers and give them more of what they really want.
Example:
Walmart took something that already existed (retail super-store) and reduced their margins and
costs, and passed along the savings to consumers. The same market/product, but with a
different approach creates untapped possibilities
Vetting: You can either,
1) Share your ideas with others to see their responses
a. Danger: People stealing, passing along your idea
2) Take your idea and run with it, test-running a prototype to get customer feedback