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Quick takeaways
- Setting up an entity, bank account, and payment processor are foundational steps in starting a business.
- Fear of failure and concerns about judgment from others often hinder people from starting a business, but overcoming these challenges requires taking action and staying committed.
Deep dives
The First Steps to Starting a Business
To start a business, the first steps are setting up an entity, getting a bank account, and signing up for a payment processor. Once these are in place, you can focus on selling something to someone. There are six things you can sell: products, services, access, risk, money, and media. To figure out what to sell, look at your past experiences and knowledge. Offer your services for free to gain experience, receive feedback, and build testimonials. Eventually, you can start charging for your services.
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