You resolved all throughout 2011 to be your own boss and break free of the tired working mold by starting up your own business. It’s now 2012- time to turn all that talk into action! This is always easier said than done though as getting a small business off on the right foot can be a complicated and daunting task especially if you’ve never started one before. How do you know where to begin or what to start off doing?

The secret that nobody knows is that starting your business is as easy as 1-2-3. If you start off with these three simple steps, they will help break down the decision making process easily and you’ll find the road to a successful new business will be a breeze to get to.

Step One- Conduct Research

What kind of business are you starting? Who is/are your target client base? What sort of demographic does your customer belong to? How many people do you think you’ll be able to sell to? Where will you sell at? Who is your competition? What sets you apart from the crowd?

These are the exact kinds of questions you need to ask yourself when it comes to your small business. Answer these questions with what you anticipate your business can do for its client base. Also, consult Google. Check out information on your local state, city, and county websites on the condition of the local economy and the market demographics in the area.

Part of your research also includes writing up a business plan which is a detailed roadmap on who the company is, what they do, how they do it, and how the company makes money. This plan is an absolute necessity to your company so be sure to get the tutorials you need if you aren’t sure how to write it. Alongside the plan create a short description of the product or service you’re offering and why a person would want to buy it. This should be no longer than two minutes and will be used as a pitch to see if there is a market for your new business.

Step Two- Protect Your Assets

This is the hoop jumping every new business takes in securing itself and the assets within it. States, cities, and counties all have various regulations that you must comply with and for each one, you’ll need to determine the type of entity it is, tax classification, and obtain the permits or licenses necessary. Determine the owner of the company the percentage of the business that they own. If you have trademarks, copyrights, or patents, known as intellectual property, you’ll also have to be sure to protect those assets too.

Your choice of business entity will be the most important decision you make for your new business. The wrong decision has the potential to expose an owner to personal liability and a domino effect is created from picking your entity- other important decisions that business owners have to make will stem from the type of entity they pick.

Step Three- Get Your Business Up and Running!

Let’s set up shop! Add the following to your to-do list: get a logo, business cards, and a website established. Rent a facility (whether you are a brick and mortar location or a virtual one, this is up to you). Buy and store inventory. This is the fun part so get your team together and get going!