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 market demand. If your startup aims to

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

More from Entrepreneur

Entrepreneur11 min readTech
Why Superchef David Chang Is Risking His Perfect Restaurant Record for a Delivery Startup
'Things are changing so fast in food that if you're still using what worked for you in the past, you're screwed.'
Entrepreneur12 min readFood & Wine
As Bobby Flay Cooks Up an IPO, Can He Still Remain the Hands-On Guy?
Used to calling his own shots, Flay will soon find out what happens when he lets everyone else into the kitchen.
Entrepreneur3 min readEntrepreneurship
6 Ways You Are Holding Your Business Back -- and What to Do About It
As your business grows, your original road map may not be the best path to success. But letting go of your vision (and control) is not easy.