So, you created a business name, something that  people will remember and something that is easy to spell and a name that relates to what it is that you want to do.

At this point you probably have some idea of what product you want to sell or what service you want to provide. In either case, begin searching on the internet to determine the amount of competition you will have with the business. Also, be sure to check out the local competition because when you do your research on google you will get global answers to your questions. Speaking of questions, I have a few:

Is your product something that can be sold or provided over the internet? If so, your market just became the world. If you are providing a product is this something that will need to be shipped to your customers or is it something that they could download after the purchase procedure is completed? Are you computer literate and can you build a web site? Do you want to build a web site?

Is your product going to require you to carry inventory? If so, how much inventory will you need to carry? 

Is your product something you will manufacture? If it requires manufacturing will the local bylaws allow you to use your home as a manufacturing plant while you get started? Do you have the facilities to manufacture and will the process interfere with your lifestyle at home? How long does it take to manufacture one product? Is this something you can create or will you need to consider hiring some staff to work with you?

Do you have the money to cover your start-up costs? Do you know how much it will cost to get started? Do you know the success and failure rate for a business such as the one you want to start? We are going to talk budgets in another article, so more on that in a little while. 

There's the thing, I do not want to discourage you, rather I want to encourage you. But, you must take the time to investigate before you invest otherwise you could be headed for trouble and yes, there will be more questions.

That's the way I see it!