Starting a business-offline and online

Starting your own business is a very good idea because it can increase your wealth. However, starting a brick and mortal business is not an easy task. First, you must think of an idea. You can get ideas from your hobbies, the existing products in the market, the existing companies in your surroundings(take a walk down the street and observe the things they sell) and more.

Next, you sit down and write a business plan, which includes what you want to sell(products or services), the business objective, the name of the business and more.

Then you can discuss your plan with a consultant, preferably an accountant or businessman. After that you must decide what type of company you wish to form, whether sole ownership, partnership or limited liability company.

One of the most important aspects of the business is the source of finance, how much financing is it coming from your own pocket, and how much from loans, and where to obtain the loans, either from banks or other sources.

Last but not least, you must consider the location, which means you need to do a survey. There are many more things you need to do before you can actually start a business, but the aforementioned steps are the most basic ones.

However, there is an alternative to the brick and mortal business, that is the online business. Starting an online business is much easier, you can bypass many of the above steps, and with much less capital too. There is no location problem as you can work from home, and the market is global!