The 5 Step Rule To Start A Business

Abraham II
6 min readNov 4, 2020

“Don’t worry about failure; you only have to be right once.” — Drew Houston, Dropbox Co-Founder, and CEO

Photo by Andrew Neel on Unsplash

With the recent shift in the World Economy, brought by the Covid-19 pandemic, many job-holders who depended on a monthly allowance for survival have been retrenched and left with no means to earn.

This development has increased the number of individuals wanting to set up businesses. The process of starting out as an entrepreneur can be quite stressful. If you are not equipped with the right knowledge to create and manage your business, you might find yourself in a position worse than you were when you lost your job.

Perhaps you have mapped out your strategy, but it seems like something is missing. Or you’re having difficulties starting up your own venture or business? Adopting these easy steps will serve as a guide to set your business in motion within the shortest time possible.

Rule 1 — Get Started

The way to get started is to quit talking and start doing.” –Walt Disney, Co-Founder, Disney

You should not wait for a specific time or a go-ahead before you start your business. Make the decision to start, that is the first step.

Establishing a business will require a prepared mind to take risks and withstand the pressures associated with owning and running a business.

“The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer.” –Nolan Bushnell, Entrepreneur

After taking the decision to start, you have to decide the kind of business you want to do. Here your passion, interests, personality must be put into consideration. Your choice of business should be based on what you have an interest in and have a strong ground to adapt well to and succeed in. Try to be as honest and practical as possible when thinking about what your interests and areas of strength are.

Rule 2 — Develop a Business Idea