Not long ago, while brainstorming with friends, we got on the subject of the “Million Dollar” idea. We shared ideas for ventures that we’d never done anything with. A few of the ideas, especially mine, seemed a little far-fetched, but some of the ideas had merit.
Where to Start
- Create a business plan – Stop Putting off a Business Plan
- Hire an Attorney – Let an Attorney walk you through licensing, permits, as well as taxes including IRS, local, and sales taxes. They may also advise you as to employee law and the type of business that best fit your needs. Should you Incorporate?
- Find a bank – Look for a bank that fits your daily business and credit needs. How to Choose a Bank for your Small Business
- Choose an Insurance Provider – How to Decide on Insurance for your Small Business
- Create a brand and make a plan – How to Begin a Marketing Plan
Where’s your Million Dollar Idea?
Do you have a million dollar idea? What have you done with it, where does it stand? Following the five bullet pointed steps above is a good start. And if the idea is worthy the start may be all you need. Momentum can be gained by the enthusiasm of others if they believe it’s a million dollar idea. OK, I’ll share one of mine. You know how you always end up with one odd sock in the laundry. How about socks that have an attached string? Granted, there are a few kinks to work out like say…walking, but it has merit. Do you have a million dollar idea? What’s holding you back?