Starting a business is a significant commitment, and while it’s tempting to jump straight into the legal aspects of making your business official, the reality is that preparation is required for success long-term. The foundation you build early on will determine whether your business is able to grow steadily or struggle to get past year one.
Before you make things official, take time to focus on the steps that will truly set you up for success. Here’s the important part: don’t get caught up in endless planning. Perfectionism and overthinking can stall your progress. Instead, focus on a few essential things that will make your business foundation solid—and then take action.
STEP 1
Clarify Your Vision
This might sound obvious, but too often we’re so focused on the “how” of business that we forget the “why.” Before you move forward with anything else, get crystal clear about what you want your business to achieve and how it aligns with who you are. What problem does your business solve? Who does it serve? Why is this important to you?
If you can’t answer these questions succinctly, take the time to reflect. Knowing exactly why you’re doing this and the impact you want to make will keep you grounded, especially when the inevitable challenges arise.
"Your 'why' will be the reason you'll KEEP GOING when you think you're ready to quit."—Wanauma Graham
STEP 2
Define Your Dream Customer
If you’re not clear about who your Dream Customer is, you’re setting yourself up to waste time and money. Understand exactly who you’re serving, what their pain points are, and how you can offer a solution. Your product or service is only as strong as the market demand it fulfills. Invest the time to truly get to know your audience, even if it means adjusting your approach as you learn more.
STEP 3
Lay the Business Structure
Decide on the legal structure of your business—this step is essential, but it’s often something we overcomplicate. Whether you're registering as an LLC, a sole proprietorship, or something else, this decision sets the foundation for everything that follows. Consult with a professional if you’re unsure, but don’t let this part hold you back.
At this stage...
Perfection is not the goal—action is.
STEP 4
Establish Your Brand Identity
Your business brand is more than just a logo or a color scheme; it’s the personality and values that will define your business in the eyes of your Dream Customer. Take the time to consider how you want your business to be perceived. What feelings do you want to evoke in your audience? What values do you want your business to stand for? Your brand identity will shape your messaging, your customer experience, and ultimately, your business culture. This will likely change as you grow and become more refined, so it doesn’t have to be perfect out of the gate.
STEP 5
Set Clear Financial Goals
Understanding the financial side of your business is non-negotiable. Create a simple budget, even if it’s just an outline of your expected income and expenses. Establish clear financial goals and track your progress. You don’t need a perfect financial plan right now, but you do need a clear picture of where you’re heading.
STEP 6
Take Action—Even If It’s Imperfect
After you’ve taken the time to do the work above, it’s time to take action. I understand how easy it is to get caught in the cycle of “preparation” and overthinking. But let’s be clear: your business will never grow if you don’t take the first step. There is no such thing as perfect preparation—there is only the commitment to move forward, even when you don’t have all the answers.
If you’re ready to make your business official, my 30 Day Boss Free Challenge will guide you through the 30 tasks you need to complete. Even setting up the foundation we discussed. It’s designed to help you break through the perfectionism and procrastination, and take real action.
It includes the business start up guide, tools and templates, and over the course of 30 days, I'll deliver daily how-to emails to your inbox. You'll focus on completing specific, practical tasks that will help you set your business up and move it forward. Members get free access.
Starting a business is a process, not an event. It’s not about checking off a list of tasks until you’re “ready”—it’s about building, refining, and improving your business as you go. Don’t let preparation become your excuse for procrastination. Focus on the fundamentals, take action, and know that you can always course-correct as you move forward.
It’s not about having everything figured out; it’s about taking one step after the next, and watching your business evolve into something greater.
The only thing standing between you and your successful business is the willingness to begin.
