Truth be told, it’s not hard to start a business. The difficulty comes when you are serious about this thing and decide that you want to make it grow and succeed.
Proper planning will indeed prevent your business from performing poorly. You often hear of instances where companies didn’t sell enough product and therefore failed. However, there are also instances where companies grow too fast. They fail as well, and those are arguably more devastating.
As tempting as it may be, resist the urge to rely solely on the advice of friends and loved ones. While they may have your best interest at heart, they may not be up to date with the latest tax laws, marketing techniques or the best way to set up your business (sole proprietor, LLC or corporation). It is imperative that you consult a professional and adhere to their advice. Of course it’s important to do your own research, but don’t try to graduate magna cum laude from the school of Google. Talk to an accountant, a lawyer, a branding specialist, a sales professional, etc. If you’ve started a business, concentrate on your area of expertise and allow professionals to help you in areas where you are not as well versed.