Starting a business can feel like jumping into the deep end of a pool without knowing how to swim.
You've got this idea, a dream, but the actual process?
It can feel overwhelming, complicated, and—let’s be honest—a little terrifying.
You’re probably afraid you might join the high percentage of new business owners who fail when starting.
But here’s the truth: you can launch a successful business if you’ve got the right mindset, a solid plan, a bit of guidance, and a few other elements for success.
That’s why in this article, we'll discuss those elements and how you can turn your entrepreneurial dream into a reality without feeling like you’re losing your mind.
We’ll break it down into manageable steps, and by the end of this, you’ll see it’s not as intimidating as it seems.
Step 1. Find Your Business Idea
The first and most important step in building a successful startup from scratch is identifying a profitable business idea.
The best approach we advise you to take here is to identify a problem and come up with a product or service that solves it.
You might have heard that you need to choose a business that revolves around your passion. But that’s one way to look at it.
Imagine if you choose a business based on something you love doing but nobody is willing to pay for it…how will you generate revenue?
Here’s a quick run at some tips that can help you come up with a profitable idea:
Note down your problems and interests. You might have some issues and concerns that keep ringing in your mind and you’re even willing to pay good money to have them fixed for you.
Browse through consumer marketplaces such as Amazon and Etsy for best-selling products. Analyze what makes these products top-rated, identify any possible gaps, and where you may fit in.
Consult Reddit's niche communities. Here, you’ll get a wealth of insights on customer research. Check the niche subreddits to discover any trends that might help with your research.
These are just a few pointers for finding the right business idea. Once you feel you’ve found it, you’ll need to validate your idea to ensure you have a chance of succeeding.
Step 2. Conduct Market Research
The next step involves conducting market research to help you understand your audience.
This step is crucial as you don’t want to jump into the business without an in-depth understanding of your potential customers and who is already serving them.
This is just like setting out to navigate without a map.
At the end of your market research, you should have found the answers to the following critical questions:
Who exactly is my target audience? This includes age, gender, their interests, pain points, etc.
What does my audience need? Understand what problems they’re currently facing and how you can help them solve them with your business.
Who’s already serving my target audience? In other words, who’s your competition? What are they doing well and where are they falling short?
Step 3. Create a Business Plan (Don’t overcomplicate it)
You might have heard that a business plan is essential—and it is.
But it doesn’t have to be a 50-page novel. Keep it simple - Because Simple Scales!
Think of it as a roadmap for your business journey, something that helps you stay on track.
Ideally, a good business plan should outline your vision, target market, revenue model, and the different expenses to consider.
Remember, a business isn’t some cast-in-stone document and you can always make some tweaks and adjustments along the way.
Step 4. Register Your Business
Here comes the fun(yet technical) part… start by choosing the name of your business. Come up with a name that reflects your brand and is unique.
Once you have a name, next you’ll need to decide on the legal structure that best suits your needs. Common options include:
Sole Proprietorship: This structure is ideal for small businesses with one owner.
LLC (Limited Liability Company): The LLC structure provides you with liability protection while allowing flexibility in your company management.
Corporation: This is a more complex structure that’s ideal for larger businesses or those seeking investment.
After you structure on a suitable structure, check if the business name is available, then register your business with your state or local government.
Additionally, apply for any necessary permits and licenses specific to your industry.
Lastly, you’ll need to get an Employer Identification Number (EIN) from the IRS (if required).
Step 5. Secure Funding (Optional)
If you don’t have enough capital for your new venture, then you’ll need to decide how to fund your business to get it up and running.
The first step here is to determine your startup costs, including everything from inventory and equipment to marketing and legal fees.
Once you have a clear estimate, you’ll need to explore various funding options to see which one best suits your needs. The most common options include:
Personal savings: Using your own money offers flexibility but also carries personal risk.
Business loans: Banks or credit unions offer loans, but you'll need a solid business plan and credit history.
Investors: Pitch your business idea to angel investors or venture capitalists who are willing to fund in exchange for equity.
Crowdfunding: Platforms like Kickstarter allow you to raise small amounts of money from a large number of people.
By weighing the pros and cons of each of the above funding sources, you can easily determine which one best aligns with your business goals.
Step 6. Set Up Your Business Operations
Regardless of whether you're launching a physical or online business, you’ll need to secure the right location for your business.
If you’re running an online store, you’ll definitely need to set up an e-commerce website, invest in hosting, and ensure the platform is user-friendly.
For a physical business, you want to choose a location that fits your target market and then set up the necessary equipment, such as furniture, technology, or tools.
For both online and physical businesses, be sure to set up a professional website that acts as your digital storefront.
It should provide your potential customers with essential information like services, pricing, and contact details.
Step 7. Marketing! Marketing! Marketing!
Marketing is a key pillar of your business’s success. Attracting your first set of customers requires you to do more than just mere marketing—you’ll need to develop a robust marketing strategy.
We suggest focusing on the following for your marketing strategy:
Social media: You can trust platforms like Instagram, Facebook, and TikTok to help you reach potential customers and build a brand presence.
Content marketing: You’ll need to create blog posts, videos, and other types of content that educate and engage your audience.
Email marketing: Sending personalized offers and updates to your audience is a great way to build relationships with them.
Paid advertising: Investing in online ads on platforms like Google or social media can help you drive traffic quickly.
Overall, we advise you to tailor your marketing approach based on where your audience spends the most time and adjust as your business grows.
Step 8. Launch It!
Once everything is in place, it’s time to officially launch your business. Start by announcing your business to the world via your website, social media, and email campaigns.
Make sure you're tracking your progress by monitoring key performance indicators (KPIs), such as sales, traffic, or customer feedback.
As you move forward, be prepared to adjust your strategies based on what works and what doesn’t. This will ensure your business stays on track for growth.
Want A Head Start? Consider Automation with Trend Hijacking
Starting a business from scratch can be an exciting journey. But this doesn’t mean it will be a smooth experience for you.
The whole process is time-consuming, stressful, and always packed with unknowns.
There’s so much to juggle, from finding the right idea to setting up systems, marketing, and eventually scaling.
It’s a lot to manage, especially if you already have a busy schedule. That’s why automation is a game-changer.
At Trend Hijacking, we’ve designed a done-for-you automation program specifically for people like you—those who want the freedom of owning a business but don’t have the bandwidth to build everything from the ground up.
Here’s how it works:
Business setup and development: We handle all the groundwork, from researching profitable niches to setting up your business infrastructure. No need to worry about what platform to use or how to navigate the technicalities—we’ve got you covered.
Launch strategies: We don’t just build the business; we also launch it. Our experts take care of everything, including branding, product development, and marketing. We make sure your business hits the ground running with a launch that’s designed for maximum impact.
Scaling and growth: Once the business is up and running, we don’t leave you hanging. We focus on scaling your business by tapping into automation tools, trend analysis, and targeted marketing strategies to ensure you’re consistently growing without the heavy lifting.
With our automation program, you’re not just getting a business; you’re getting a well-oiled machine that’s built to succeed from day one.
If you’ve ever felt overwhelmed by the thought of starting from scratch, or if you just don’t have the time to do it all yourself, this is your fast track to entrepreneurial success.
Want to know more? Reach out today, and let’s get you started on a business journey that’s stress-free and set up for long-term success.
Scaling Your Business (When the Time Is Right)
So your business has started to gain momentum and you’re wondering what comes next? Scaling it is!
It’s quite exciting to see some growth from your website but it can also easily get overwhelming if you aren’t prepared.
You’ll also learn one crucial lesson along the way—you can’t do everything on your own. And this brings up the question of automation and delegation.
Automation, in particular, will save you loads of time and effort by helping you streamline the repetitive tasks in your business. These include customer service, email marketing, inventory management, etc.
By using automation tools for these tasks, you’ll free a significant amount of time to focus on the high-level strategies that help drive your business forward.
Hiring help will also become a necessity once your business starts to expand. For instance, you may need to hire a:
Virtual assistant to handle your customer inquiries
Project manager to oversee daily operations, or
Marketing expert to help you grow your audience.
The key is knowing when the time is right. If you find yourself spending more time working on low-value tasks than planning the growth of your company, then you might need to bring in some help!
What to Do When Things Don’t Go According to Plan
As we always tell you, starting a business from scratch is always a risky affair.
Sometimes things may not go according to plan. Maybe your new product will fail to get the traction you expected or your marketing campaign will fall flat.
This is all part of your entrepreneurship and every serious entrepreneur out there will have to face setbacks at some point.
When faced with such, we advise you against panicking and giving up altogether. Instead, you should view the challenges you face as learning opportunities.
Follow these tips to help you navigate this challenging phase:
Reevaluate your strategy: The first thing you should try to understand is what went wrong. Was your pricing off? Or did you misjudge the market demand? You might be surprised that a simple tweak to your approach is all you need to make it work!
Don’t be afraid to start again: Most of the successful entrepreneurs didn’t get it right with their first idea. Most of the successful businesses also didn’t start with the idea that made it big in the market. Therefore, if your product or idea isn’t working, don’t hesitate to test other options.
Ask for help: Yes, you don’t have to do it all alone. Seeking help, whether it’s scaling, marketing, or streaming operations can help provide you with the necessary expert assistance for keeping things on track.
Final Thoughts
So, there you have it—everything you need to know about starting a business from scratch.
While this process is no easy feat, you can still hack it with the right mindset, a solid plan, and a bit of persistence.
If the idea of building a business from the ground up still feels overwhelming, we’re here to help.
At Trend Hijacking, we specialize in doing the heavy lifting for you. Our automation program takes care of everything—so you can focus on your vision. A free consultation call is all that stands between you and your successful startup.
Book the free call here and let’s get started today!
