How do you start your own business?

I see it as you have to become in debt in order to start that dream? How do you do it, what do you have to do step-by-step to achieve it without getting in debt or bankrupt? Or is it just a chance? Who do you have to hire? What do you have to know?

First thing, know yourself, what you can do and what not, in all aspects, qualification, finance, physical stress?

Find for any need that you can cater to, where you will see your prospective customers. See if the need is consistent ( repeated orders), need present in which age group, society circle. If you are convinced that this need will have good future prospects, try to carry our your first assignment. e.g. cleaning of water tanks . this is a new business which was not there before.
Paying electricity / telephone bills for old people.

Legal formalities you need is shop act for your business address and sales tax / service tax registration. Please find out govt. formalities required to your type of business. e.g. you may need to look for NOC for adulteration if you go for any food industry.

Once you get repeat orders, you have to keep watch on your finance and everyday ongoing enquiries.

Tell as many as people what exactly you do; even at personal get-togethers. This is mouth to mouth marketing or publicity to get business.

Study the life graph of successfull entrepreneurs. Study how they solved their problem, what options they preferred, where they invested, where they earned.

keep faith that you will succeed in business. be very honest towards business and customers and work quality.

First off what is it you are going to do? What are you passionate about?

You can obtain a loan once you have a plan in motion.

Research, location, office space - you kind of go in head first and worry about everything one day at a time.

Go to the bank and get a small business loan. You can find someone to sponsor you.

There is a lot of great advice to your question already. I agree with finding your passion. Next, you need to know how much money it will take to turn a profit for your business and this is determined by all your overhead you will need to carry to run your business. Once that is detemrined, you need to decide how much money you need to make in order to live and pay your bills. Starting a business requires the owner to scarcrifice their pay until the business can sustain the salary to the owner. Lastly, start making a list of everyone you know. This way you can invite them to your grand opening. Whether it's in a group setting or on an indivdual basis, you still need customers. Keep in mind, you will need a business wtih repeat customers, a product line everyone needs or must have, and something that allows for mulitple streams of income. Good luck. Oh yeah, what will make you build your business even when you are tired or have the sniffles. You must find out your why to building your business. What is your daily motivation???

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Why don't you start a business that will cost you close to nothing to start-like an office cleaning business. If you're interested on learning about what you would need and how much you can make, go to http://www.cleanuptheprofit.com