5 Steps to Convert Your Business Idea Into a Startup -Written by: Ed Carter of ablefutures.org

Many young people become entrepreneurs to turn their passions into startups so that they can have fulfilling careers. There are quite a number of steps to establishing a business, but knowing what to expect can help you start off on the right foot. With these five steps from Take It to the Edge Marketing, you'll feel ready to pursue this new venture.
 
1. Register Your Business
The first step is to choose a name for your business. The right name should be something unique, uncomplicated, and reflective of your brand identity. Once you select a name, you can register your business and start tackling the other legal requirements of starting a business, such as choosing a business structure, obtaining the appropriate business licenses, and establishing how your finances will be handled. The rules differ from state to state, so check in with your local regulations to make sure you're in compliance. You can even hire a formation service or a lawyer to guide you through the process.
 
2. Design Your Customer
Your customers will make or break your business, so you should design your ideal customer before you set up shop. One easy way to figure out your target audience is to conduct a competitive analysis. Surveys show that over 75% of business owners find competitive analysis to be an essential strategy for success and growth, so implement this strategy early on. Take some time to research businesses within your intended industry. Check out their websites, marketing tactics, pricing, and products to see what they offer and what they lack. You should go where there's a hole in the market, especially if there's a demand for it.
 
3. Create Marketing Profiles
Social media is so important for start-ups because brand awareness doesn't happen overnight. Gradually, you'll build relationships with people and get your name out there, so make sure you're actively using Facebook, Twitter, YouTube, and other social media platforms. You should also have a website before you go public. For start-ups, a website should be simple in design while also engaging visitors and clearly showcasing your mission. This way, potential customers help generate anticipation and spread the word.
 
4. Write a Business Plan
A business plan will help you get into the details and serve as a roadmap to the inevitable business launch. Including how your business is managed, what the market looks like, what products you plan on selling, and how you plan on marketing will help you establish a game plan, one that you can share with other people. Financial projections are also an essential piece of a business plan. Early on, you'll need to know exactly how much money you'll need to hit the ground running. In the end, you may need to seek out investors or loans to help fund your start-up. 
 
5. Network
Networking can be the key to success. Who you know can drastically affect what opportunities are available to you. Even some old friends and acquaintances from high school may be valuable resources. Using your graduation date and high school name, search for friends in Tucson and the surrounding area via a search engine to reconnect with people. 
 
Creating a start-up is an excellent way of making money off your passion. If you take your time with the preliminary steps, such as registering your business and writing out a business plan, you'll create the foundation needed to make a successful startup.