The following is a guest blog post by Lucy Reed:

You've finally found the perfect idea for a new business. What's next? There are many steps between a great idea and a fully fledged business. With some advanced planning and the entrepreneurial spirit, you can turn your dreams into reality. Of course, getting your name and brand into the public eye will also be of paramount importance. Rebel Road Creative can be a one-stop source for helping you achieve your creative and marketing objectives.

Is Anyone Else Doing It?

Before you get too invested in your startup idea, do some research to ensure no one else is doing the same thing, or marketing the same product. If there's something similar out there, that's usually okay, as long as you're aware of the competition and work to differentiate yourself. If you're actually making a product, visit the U.S. Patent and Trademark Office and conduct a search of similar products to determine if your idea already exists.

Create a Business Model

What will you do, and how will you do it? It's important to think through the progression of your business. For example, Profit Well recommends considering whether you want to start small, bootstrapping your business from a home office, or if you want to go big from the start with a storefront or office space, employees, and small business loans or investors. What will it take to get the business up and running? While enthusiasm is a key ingredient for startup success, you also want to be realistic in your projections, especially in the early days.

Form a Company

Form an LLC to give yourself protection from some liability. This approach requires limited paperwork, less time, and will make it easier when it's time to file taxes. You can do the legwork yourself or retain an attorney to do it for you. Your best bet may be to utilize an online formation company to handle all of the details on your behalf. This gives you a sense of legitimacy from the start, and will be helpful as you establish your business identity. All states have different regulations around LLC formation, so learn yours in advance before moving ahead.

Chart Your Plans

Developing comprehensive business and marketing plans will be beneficial on many fronts, and required if you plan to apply for small business financing. A business plan helps you identify your target market, chart your finances and operational objectives. It will also help you develop a budget and set financial projections ranging from the cost of business cards to prototyping a product. A business plan serves as a roadmap for how you develop your company in the short and long term. Consider this a living document that guides your decision-making.

Get Established

Basic business startup requirements include registering a company name and web domain, interactive website, marketing and branding strategy, office space and equipment, and potentially retaining employees or vendors. You'll also need a customer recruitment strategy, which might start with friends and family, as well as industry contacts, former bosses and colleagues. Consultants can also be helpful at this stage of the game, especially if you're new to the business world and need advising on some of the more practical elements of a business startup.

Turning a great idea into a business takes self-discipline and hard work. Look at local chambers of commerce and small business development centers for guidance as you get established. These entities often offer workshops, training, development programs and seminars where established pros share best practices. You can also use mixers and social functions as a way to meet new people and build your client base.

Rebel Road Creative provides services including content writing, marketing, and research. Learn more about how this company’s creative professionals can get your entrepreneurial venture off on the right track.