>>12275785>>12275785Happy to help.
1st find a need to fulfill.
2nd examin if you canfill it for a profit.
How much would people be willing to pay for a solution? What are the alternatives, and how much do they cost? Can you provide a solution for cheap enough. (The money you charge people "revenue" minus your direct costs to provide the product or service "cost of goods sold" iiscall the gross margin. A typical gross margine is 30%-70%)
3rd Once you know you can provide the solution and you know what your gross margin would be you need to see if you can do, or sell, enough to make this worth while. Ie, if you sell something that only 1/1000 people could need you likely won't do enough business to make it worth while. When calculating what your needed business volume is for a small business take your current salary, or how much you need to live. Add to this any fixed costs, tooling, rent, etc (then add atleast $1500 a year for business registration, and a copy of quickbooks.)
4th next you need to register your business. Usually this is best done by forming an LLC (lots of placed to do it online) and pay a yearly fee to your state for the LLC. Once the LLC is live file for a business permit in your city, as well as a salestax collection permit.
5th if you can, I recommend starting small. See if you can do This while still working your regular job. Eventually you will know when it makes sense to do this new business full time.
I hope that is helpful.
((From a small business owner, and a big business co-owner.))
