10 Steps to Turn Your Business Idea Into a Reality

New business applications have been at an all time high for the past two years. Over 5 million were submitted in 2021 alone. If you’ve been considering turning your idea, side hustle, or creative talent into a business, we are here to provide the support and encouragement you need to take the leap.

While the internet and social media can be helpful tools in learning how to start a business, it is also oversaturated with advice and can be overwhelming to sift through, especially if you're working on your own. We wanted to break down the first 10 simple steps to follow to get your business off the ground. 

1.) Write down your “why” 

In a Google Doc, journal, or someplace you can refer back to, write down why you want to start a business. Perhaps you have an idea for a new consumer product, or you are solving a problem you experience in your own daily life. Maybe you are a yoga instructor, artist, or interior designer who has been selling to friends and family but you’re ready to grow your business and build a lasting brand. Write down not only your idea but the “why” behind it – you will come back to this again and again as you work on developing your business and as it evolves and grows.

2.) Do market research/competitive audit 

Understanding who your competitors are is crucial in helping you figure out your positioning and differentiation. If you know what others are doing, you can make decisions early on that will help set your business apart. Identify at least 3 other brands in your space and do a deep dive: look at their websites, social channels, press mentions, influencer collaborations, messaging, branding and take notes on how they are positioning themselves and consider how you can build a brand that stands out.

3.) Consider your vision and mission

What is your long-term goal and vision for your business? What is your larger purpose? What do you want to stand for? Reflecting on these questions will start to shape what will ultimately become your brand foundation. It’s important to think about these now so that: 

1. You have a strong motivation in place that will keep you moving towards building your dream business 

2. It will help you think about the bigger picture and provide direction for everything from your name to your logo and color palette. 

4.) Create a one page business outline 

You don’t need a business background or a full business plan to start a business, but we do recommend a one page business outline to keep yourself accountable and provide a framework for growth. You will refer back to this again and again as you continue to make decisions about your business. A few components to have in your one-pager:

• Your “why”

• Your long-term vision

• What you want to stand for as a business

• Your initial product or service

• Your 1 year goal, 5 year goal, and 10 year goal

5. Come up with a name 

This step can be tough! We recommend setting aside time on your calendar for creative brainstorms where you write down any and all names that come to mind. From there, narrow it down to 3-5 and run them by your friends and family. Be sure to double check if the Instagram handle and the URL are available for your name. It is also worth having a lawyer double check its availability (it can be a real headache if you run into legal issues later). Be sure to sleep on your decision and give it some time before you commit. A name is tough to change, both logistically and in terms of awareness, once you’re established.

6.) Claim Your URL and Instagram Handle

Once your name is in place, buy the URL through Squarespace or GoDaddy and claim your Instagram handle. You don’t need to post anything just yet, but make sure to claim both. 

7.) Create a logo, choose fonts and a color palette (use Canva or upwork to find a freelancer) 

If you are a creative type, you will enjoy this step: developing the aesthetic of your brand. Start with thinking about the colors and fonts that best your business idea and vision. Use Pinterest as a resource for sourcing inspiration – create a hidden mood board that reflects the aesthetic you have in mind. 

If you want to DIY your logo and colors, Canva is an excellent tool that is super user-friendly. Another budget-friendly option is Upwork, which connects you to freelancers all over the world. 

Tip: Make sure to refer back to your competitors and choose an aesthetic direction that sets you apart from them. If all of your competitors are millennial pink, for example, pick a different color scheme so you don’t get lost in a saturated space.

8.) Set up a simple website and Instagram profile 

Once your colors, fonts, and logo are in place, set up a simple website in Squarespace (or your website host of choice) which has easy plug-and-play design templates. For now, your website can be a simple splash page that has your logo, a brief line about what you offer, and your contact information. We also recommend collecting email addresses and building your email list as soon as possible. This can be especially valuable leading up to your launch so you can notify your list once you’re up and running. For an email marketing service, we recommend Mailchimp. 

At this phase you can also upload your logo and a brief description to your Instagram profile bio. Be sure to include “Coming Soon” and the link to your splash page. 

9.)  Gather initial feedback 

We cannot emphasize enough the value of feedback. Start consulting with trusted friends and family as soon as possible. When we started All You Need Method, we hosted a series of Zoom calls to run people through our initial idea, messaging, and eventually our website. Knowing that you are “onto something” is very validating, and constructive feedback or awareness of any loopholes you might not have thought of will help you save lots of time and money in the long-run.  

Tip: It’s always nice to offer a complimentary product or service to people who are helping you along the way!

10.) Build your brand foundation 

Now that your business idea is turning into a reality, the next step is to build a solid brand foundation. This step ensures that you are setting yourself up for long-term success. Investing in building your brand foundation before announcing your business, reaching out to potential customers, posting to social media, or sending emails to media and influencers, is one of the smartest decisions you can make as a small business owner. 

A solid brand foundation will allow you to describe your product or service with confidence and clarity, tell your founding story in a compelling way, stand out in a crowded market, build trust and credibility with your dream customers, organize your social media efforts and learn how to create meaningful content, and so much more. It will ultimately help you make a lasting first impression and to build a brand you love, and that others love, too.

While some small business owners may be able to hire consultants to help them build a brand foundation, we know that many teams of 1 or small teams are not in a place to outsource this. This is why we built our online course, the All You Need Method Starter Kit. We want to help small business owners and creative entrepreneurs build recognizable brands and give you the tools you need to grow your business.

To close, we want to say that building a business is an evolution. It’s like learning how to crawl, walk, and then run. You will likely see many iterations of your business and brand as it grows and as you learn more and more about your ideal customers and what they need from you. We encourage you to remember that it does not have to be perfect. Just get started, and take it one step at a time. Progress over perfection, always. 

Carla & Kathryn