When you talk to any business person or entrepreneur and you'll rapidly discover that beginning a business requires a ton of work.

Rather than spinning your wheels and guessing at where to start, follow some important  steps to convert your business  into a real entity. Here are some tips you should for these steps:

•  Know yourself as an entrepreneur before you start

•  Generate new business ideas

•  Create an initial business plan

If you're thinking about starting a business, you likely already have an idea of what you want to sell, or at least the market you want to enter.

When you start a business, you should first find answers to the questions such as ‘WHY should I do this?, For what purpose?, For whom?’ In this process, it can be wise to differentiate between if the business serves a personal why or a marketplace why.

Regardless of which option you choose, it's vital to understand the reasoning behind your idea.

You need to explain why you need to work with these clients – do you have an energy for making individuals' lives simpler, or enjoy creating art to bring color to their world?

Every business needs to have a written business plan.

Many startups cannot succeed because they run out of money before turning a profit.

Before you can register your business, you need to decide what kind of entity it is. Your business structure legally affects everything from how you file your taxes to your personal liability if something goes wrong. 

You will need to acquire a variety of business licenses before you can legally operate your business. It depends on countries’ policies and laws.

Working with the right persons having necessary qualities. So building a correct team is of vital importance for the success of the business.

Product promotion policy is an important task that must be planned when setting a business.

Your launch and first sales are only the beginning of your task as an entrepreneur. To make a profit and stay afloat, you always need to be growing your business. It's going to take time and effort, but you'll get out of your business what you put into it.

Business rules, in their simplest definition, are directives that define (or constrain) business activities. The concept of business rules was not born out of the technology era. Rather, the development or invention of business rules was born out of a grass-roots effort to provide the best possible approach to business operations.

Some basic examples of business rules are as follows:

-A decision-making hierarchy for invoice processing, where the values of certain invoices are tiered to determine which managers can approve;

- calculations to determine bonus potential and payouts for sales personnel;

- a series of required quiestions that if an answers is no, a certain vendor is excluded from a particular partnershop opportunity;

- a set of questions and answers for a guest booking a hotel room, to determine availability and rates

If you rent or buy a property, you may have to pay business rates. Small businesses can apply for a discount on business rates and some may pay nothing. If you take on agency workers or freelancers you have some responsibilities, for example their health and safety. There are things you’ll need to do if you take on your own employees. You’ll have more responsibilities, including:

-running payroll

-paying for their National Insurance - but you can claim an allowance to reduce your bill

-providing workplace pensions to eligible staff