Develop a business plan. This is possibly the most important step in developing a new business. Any prospective financier will want to see a very detailed and well thought-out plan, which will then serve as a blueprint. It should detail the operations, management and capitalization of your business. The Small Business Association offers a business-plan tutorial online .
Resources abound to help prospective entrepreneurs.
The Sirolli Institute , for which Toppin works, offers free advice and counseling to prospective entrepreneurs. Enterprise facilitators will even help you locate and deal with a bank or financing partner. The best approach to starting a business is to plan ahead, experts emphasize. Plan what the results would be if your business fails. If things don't pick up like you hope, plan how long you'll stick it out before throwing in the towel.