Four Essential Steps to Take Before Starting Your Business

Starting a business is an exciting journey, but before you rush into branding, website creation, or social media promotions, there are critical steps to take that can make or break your success. If I were starting a new business today, these are the four things I would do first.

1. Conduct Thorough Market Research

Before choosing a business name, designing a logo, or deciding on brand colors, market research is my first priority. Market research looks different for everyone, but at its core, it involves gathering as much information as possible about the industry, competitors, and potential customers.

I would start by researching similar businesses on social media and search engines. This includes analyzing local, regional, and international competitors. I would take notes on their:

• Business name and location

• Products or services offered

• Pricing structures

• Social media presence and engagement

• Email marketing strategies

• Customer reviews and testimonials

Additionally, I would observe who follows them and who they follow. This helps me identify the audience they attract. I would also subscribe to their email lists to analyze their messaging and frequency of communication. Beyond social media, I would look for media coverage or mentions that give insight into how their brand is perceived.

Beyond online research, I would ask my network targeted questions about their needs and preferences. This feedback helps me gauge interest and pinpoint potential gaps in the market. The goal is to understand what exists and how I can position my business to stand out.

A common mistake new entrepreneurs make is assuming that offering a lower price will attract more customers. Price alone is not a sustainable competitive advantage. Instead, market research should reveal ways to differentiate my business beyond just cost.

2. Beta Test the Product or Service

After conducting market research, the next step is beta testing. This means introducing my product or service to a small group before launching publicly. The goal is to gather real feedback, validate demand, and refine the offer.

For a product-based business, I would start with a small inventory, sell to a select group, and collect their reviews. If I were offering a service, I would provide it to a limited number of clients, possibly at a discounted rate, in exchange for testimonials.

Beta testing gives me a chance to:

• Identify any quality or performance issues

• Understand customer expectations

• Gather testimonials and reviews

• Make adjustments based on real user feedback

This phase ensures that when I do launch, I am not just hoping people will buy—I have already validated that they will.

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3. Build a Pre-Launch Strategy

Many entrepreneurs make the mistake of launching a business without first building anticipation. A successful launch starts with a pre-launch strategy designed to create demand before the product or service is available.

I would use the insights from my market research and beta testing phase to start teasing the launch. This could include:

• Sharing behind-the-scenes content

• Posting customer testimonials from beta testers

• Collecting email addresses from interested buyers

• Offering a waitlist for early access

A waiting list helps gauge interest and ensures that when I officially launch, I have potential customers ready to buy. By the time I say, “Click the link to purchase,” or “Send a message to order,” there are people eager to take action.

4. Plan for the Long-Term

A business is more than just a launch. Many entrepreneurs focus on getting started but fail to plan for sustainability. I would take time to outline my long-term vision, including:

• Financial planning: Understanding costs, revenue projections, and profit margins

• Marketing strategy: How I will attract, convert, and retain customers

• Operational systems: Processes for fulfilling orders, managing clients, and handling customer service

Having a strong foundation means that I am not just reacting to problems as they arise—I am proactively building a business designed for long-term success.

Final Thoughts

Starting a business is more than just creating a social media page and designing a logo. It requires strategy, research, and a clear plan. By following these four steps—conducting market research, beta testing, building a pre-launch strategy, and planning for the long term—I can set my business up for success before it even launches.

Are you in the early stages of starting a business? What questions do you have about getting started? Let’s continue the conversation.