Want to Start a Business? Follow These 10 Startup Tips

Back in 2015, I scribbled the words in my journal while sitting at a tiny desk in my apartment, surrounded by bills I wasn’t sure how to pay. The dream came to me, but I had no map. “Want to start a business? Follow these 10 startup tips.” If you have ever experienced the urge to leave your 9–5 job and start your own business, you are all too familiar with the conflicting emotions of exhilaration and anxiety. It doesn’t help that nearly one in five small businesses in the US fail within the first year. Since then, though, I’ve discovered that chance isn’t the key to success. It all comes down to thinking, planning, and a few doable actions. To help your journey to business go a bit more smoothly than mine, I’ve included ten lessons I’ve learnt the hard way in this book.

Define a Clear Business Idea

I once asked a buddy what kind of business he wanted to start, and he shrugged: “Something online.” That’s not a business idea—that’s wishful thinking. The truth is, most failures (about 42%, according to CB Insights) happen because nobody really wanted what the founders were selling. I laugh about it now, but I once spent three months building a product that solved a problem I thought existed. Turns out, I was the only one with that problem. Lesson learned: nail your idea down to a single, clear sentence. Something that makes sense to a stranger. If you cannot explain why, people are not going to care.

Do in-depth market research

When I launched my first service, I skipped research because, in my head, “everyone” needed it. Wrong. Weeks later, I saw that nobody was waiting in line. It was like operating a seafood restaurant in a community where no one eats fish, looking back. Businesses worldwide invested over $76 billion in market research in 2021, according to Statista, since it’s important. Before creating her product, Sara Blakely, the founder of Spanx, even went door to door to interview women about their difficulties. If she’d skipped that step, maybe Spanx would have stayed just an idea. Engage in conversation. Pay more attention than you talk. It’ll save you a fortune.

Develop a Solid Business Plan

I used to think business plans were for investors only. Honestly, I avoided writing one because it felt like homework. But then I read a Harvard Business Review study showing entrepreneurs with written plans were 16% more likely to succeed, and I figured, maybe there’s something to it. So I scribbled one out. It wasn’t pretty—coffee stains everywhere—but it forced me to answer tough questions: Who exactly am I serving? How do I make money? What if costs spiral? That plan didn’t predict the future, but it kept me from running blind. Even messy plans beat no plan.

Secure Adequate Funding

I’ll be straight with you: I once started a project on nothing but hope and a half-charged credit card. Spoiler alert—it didn’t last. The U.S. Small Business Administration estimates home businesses can launch for a few thousand dollars, but retail shops or restaurants often need way more. Without cash, even the best idea suffocates. “Business opportunities are like buses; there’s always another one coming,” as Robert Branson once memorably remarked.. It’s true. However, if you cannot afford the ticket, you will not be able to board any bus. Although funding isn’t attractive, it’s vital. Your dream will come to an abrupt end if it is not executed correctly.

Choose the Right Business Structure

Here’s where I really messed up. I started as a sole proprietor because it was easy. A year later, I almost lost my savings when a client made threats of a lawsuit. It was then that I knew: Structure counts. The I.R.S. states that more than 70 percent of small businesses in America are organized as sole proprietorships, but that doesn’t mean it’s the best choice. Both LLCs and corporations provide protection, although there’s some extra paperwork involved. Think of it like wearing a helmet — you hope you’ll never need it, but when that crash comes, you’ll be happy it’s on your head.

Build a Strong Online Presence

In today’s world, being invisible online is like locking your shop door during business hours. I’d done a search for a local service and found nothing, and in minutes had hired their competitor. According to Statista, more than 5.3 billion people are online today. That’s your audience. A tidy website, moderate SEO, and social activity are no longer optional — they are your handshake, your storefront, your credibility. You don’t need to overthink it initially, just make sure people are able to find you. Because if they can’t Google you, you might as well not exist.

Focus on Customer Experience

Here’s the part people underestimate. I still drive twenty minutes past a Starbucks to get coffee at a little shop where the barista remembers my name. PwC found that 73% of customers say experience drives their decisions. I believe it. You can have the best product in the world, but if you treat customers like transactions, they’ll walk. Amazon’s Jeff Bezos built his empire on one obsession: the customer. He once said, “We’re not competitor obsessed, we’re customer obsessed.” If you remember that, you’ll be light-years ahead of most startups.

Build a Reliable Team

The lone wolf entrepreneur? That’s a myth. Even the legends had backup. Elon Musk doesn’t build rockets by himself. I learned this lesson when I made the catastrophic mistake of employing a close friend. He didn’t share the vision, and it poisoned the energy fast. Startup Genome reports that 23% of failures happen because of weak teams. Seek for individuals who share your goal rather than merely filling positions. Skills matter, yes, but culture matters more. A good team will carry you through storms. A bad one will sink you faster than debt ever could.

Monitor Finances Closely

One of my worst wake-up calls came the year my revenue doubled—but so did my expenses. On paper, I looked successful. In reality, I was broke. According to U.S. Bank research, 82% of businesses fail due to cash flow problems. That stat haunts me because I’ve lived it. Now, I check my books religiously. Numbers aren’t deceiving, not because I adore them (I don’t). They whisper the truth long before disaster strikes. You won’t even realize you’re running low on petrol until you’re on the side of the road if you ignore them.

Stay Adaptable and Innovative

If there’s one guarantee in business, it’s change. Markets shift. Technology evolves. Customers move on. Netflix used to mail DVDs; now it runs the streaming world. Nintendo started with playing cards before moving into video games. McKinsey’s 2020 report showed that companies innovating during downturns grew 30% faster than others. The pandemic made this crystal clear. Restaurants that pivoted to delivery survived. Those that refused, vanished. Instead of being weak, adaptability is survival. It is not an option; innovation is necessary.

Conclusion

Do you want to launch a company? The whole point is that it won’t be flawless, not even close. After coming up with a concept, you ask others whether they truly care about it, and then you just start putting the pieces together. On some days, you’ll feel invincible, and on others, you’ll question why you ever attempted.  Your idea will likely alter a dozen times, clients may surprise you, and money will cause you trouble.  You will end up with more than just a business, though, if you prioritize people, never give up when things become tough, and never give up.  That narrative is worth living, I promise. Follow for more updates on Business.

FAQs

1. How much money do I really need to start a business in the U.S.?

Honestly, it depends on what you’re starting. I’ve seen folks launch with a few hundred bucks and a laptop, and I’ve seen others need thousands just to open the doors. The U.S. Small Business Administration says most small businesses kick off with around $3,000–$5,000, but your number might be higher or lower. What matters most is having enough to survive those first few months without panicking every time a bill shows up.

2. Do I need a business license if I’m just starting small?

Probably. Your city or state often requires you to have some sort of license or permission, even if you’re only dropshipping online or selling candles out of your kitchen. Although it’s usually only a form and a little fee, skipping it might have unintended consequences. Think of it as creating the foundation to stop cracks in the future.

3. How long before a new business actually makes money?

That is the crucial question. It often takes a year and a half, sometimes even two, for the majority of small enterprises in the United States to turn a profit. You may arrive sooner if your expenses are minimal. It can take longer if you’re managing a large establishment, like a restaurant. The true key lies in controlling spending and being prepared to change course when something isn’t working.

4. Should I quit my job before starting my business?

Not unless you’re ready. A lot of entrepreneurs keep their day job while building their business on the side—it takes the pressure off. When your business is bringing in steady money and covering your bills, that’s when it makes sense to go all in. Until then, think of your job as your safety net. No shame in that.

5. What’s the biggest mistake new business owners make in the U.S.?

Attempting to complete it alone. With all of the legal documentation, marketing, taxes, and daily operations, it might be intimidating. People who refused to seek aid have burned out quickly, in my experience. Whether it’s a bookkeeper, a mentor, or just someone you can rely on when things get messy, the fact is that every entrepreneur requires a team. Trying to be the hero makes business much more difficult.