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Starting a new business can be daunting. Breaking it down into smaller steps can make the process feel more manageable and help you build momentum until your first sale.

If you have a great idea, but you’re not sure where how to get it off the ground, start with this checklist.

1. Perform market research

Whether you have an idea already, or you’re ready to build something from scratch, the first step is to do some research.

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Investigate how much demand there is for your product or service, as well as the existing competition. The information you learn can help you narrow down your business concept.

Market research encompasses both primary and secondary sources.

In practice, it entails conducting focus groups, surveys, and interviews with potential customers (primary research) and reading government statistics and market reports (secondary research).

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2. Test your concept

Before you dive in, test your business idea to make sure it’s based on a valid market need. Perform a competitive analysis to make sur

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