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What are the steps to start a business from scratch?
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1. Conduct Market Research: Investigate the industry and market in which your business will operate to determine the feasibility of your business’s success.
2. Establish Legal Structures: Decide on a business entity and obtain the necessary paperwork to register with the state.
3. Write a Business Plan: Create a comprehensive business plan that outlines the details of your business strategy, goals, operations, and costs.
4. Register for Taxes: Register for the necessary tax identifiers including a business tax ID and any local or state taxes.
5. Fund Your Business: Obtain the necessary capital to launch your business. This could be your own money, partners, or investors.
6. Acquire Licenses & Permits: Obtain all necessary licenses and permits needed to operate your business lawfully.
7. Market Your Business: Utilize traditional and digital marketing tactics to generate and attract customers.
8. Network & Build Partnerships: Join local organizations and build professional relationships with other businesses to help grow your business.