Start your business in 2025 (step by step guide)

This podcast provides a step-by-step guide for starting a business in 2025. The speaker emphasizes the importance of establishing a strong foundation, including mindset, goals, and a guiding North Star, before focusing on developing a business idea and marketing strategy. The advice covers identifying a market gap, creating a product or service, and utilizing social media marketing to build an audience and ultimately, generate revenue.

Business Fundamentals

• 00:00:08 Begin by establishing a positive mindset, embracing failures as learning opportunities, and setting clear, specific, measurable, achievable, realistic, and time-bound (SMART) goals. It's recommended to start with one financial goal to define success. Finally, identify your 'North Star,' the core reason for starting the business, and visualize it consistently to stay motivated, particularly during challenging times.

Business Idea

• 00:04:39 Identify a market gap or create a new market by developing a product or service that solves a problem. The speaker suggests creating content related to the chosen industry to research the target audience and understand their needs. It's important to be able to summarize the product or service in one sentence to ensure clarity and focus.

Product/Service Creation

• 00:08:20 Develop the product or service, considering the necessary tools and platforms. This includes choosing a website platform like Wix or Shopify, a content hosting platform if offering educational materials, and a design platform like Canva or Adobe Express. Establishing an email service provider, like ConvertKit, is also advised for building an audience and nurturing relationships.

Business Marketing

• 00:10:47 Begin marketing the business using social media, starting with platforms like TikTok and YouTube. Focus on creating valuable and engaging content that educates, entertains, and inspires the audience, rather than solely promoting the product or service. This strategy aims to build trust and attract customers organically.

Legal & Financial

• 00:13:43 Understand the legal and financial aspects of running a business, including business structure and tax implications. It's advised to research the most suitable business structure for your location and track expenses and income diligently for accounting purposes. Additionally, ensure your website has a privacy policy and terms of service, and maintain a separate bank account for business transactions.