![]() “Just because you have a brilliant idea does not mean other people haven’t also had the same idea,” said Wright. Even if you think your business idea is unique, you should be aware of competitors, said Ian Wright, founder of British Business Energy. You want to make sure you understand the industry you’ll be involved in so you can dominate it. ![]() Doing so will better position you and your new company for success. To make sure you’re prepared before launching your business, make sure you’ve completed these 11 important tasks. 11 tasks to complete before starting a business Some good first steps in starting a business are researching competitors, assessing the legal aspects of your industry, considering your personal and business finances, getting realistic about the risk involved, understanding timing, and hiring help. 20 Mistakes to Avoid When Starting a Businessīeyond giving it your all, it’s important to direct your energy to the right tasks – especially at first.Startup Costs: How Much Cash Will You Need?.Tax and Business Forms You’ll Need to Start a Business.26 Great Business Ideas for Entrepreneurs.How to Start a Business: A Step-by-Step Guide. ![]() Launch your business: Starting a business is a lot of work, but we’re here to help! Check out our useful resources for everything you need to successfully build your business from the ground up. Still, with a little planning, it’s possible to manage expectations and take actions with a sense of purpose toward building your business. There’s no avoiding this reality for new small business owners. It often feels like there are 1,000 things to work on all at the same time.
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