According to Efe Gokce there are several challenges you must overcome to start a business. This calls for conducting market research, developing a business plan, looking for capital or other funding sources, deciding on a location and organizational structure, choosing the best name, submitting registration paperwork, obtaining tax documents, and obtaining licenses and permits. https://www.youtube.com/watch?v=NnW0gQcu6e4

1. E F E G O K C E |
H O W D O Y O U
S T A R T A
B U S I N E S S

2. A C C O R D I N G T O E F E G O K C E
T H E R E A R E S E V E R A L
C H A L L E N G E S Y O U M U S T
O V E R C O M E T O S T A R T A
B U S I N E S S . T H I S C A L L S F O R
C O N D U C T I N G M A R K E T
R E S E A R C H , D E V E L O P I N G A
B U S I N E S S P L A N , L O O K I N G F O R
C A P I T A L O R O T H E R F U N D I N G
S O U R C E S , D E C I D I N G O N A
L O C A T I O N A N D
O R G A N I Z A T I O N A L S T R U C T U R E ,
C H O O S I N G T H E B E S T N A M E ,
S U B M I T T I N G R E G I S T R A T I O N
P A P E R W O R K , O B T A I N I N G T A X
D O C U M E N T S , A N D O B T A I N I N G
L I C E N S E S A N D P E R M I T S .

3. Tiny businesses are modest, independently
owned businesses. Family eateries, home-
based enterprises, apparel merchants,
publishing companies, and tiny
manufacturing are some examples of these
companies, which frequently have less than
100 employees under their management. Efe
Gokce says as of 2021, there were 32.5
million small businesses in the US, employing
61.2 million people.
B U S I N E S S S I Z E S
S M A L L B U S I N E S S E S

4. M I D - S I Z E D
E N T E R P R I S E S
The exact definition of a mid-sized or
medium-sized business in the United States
is unclear. However, when large U.S. cities
like Philadelphia, Baltimore, and Boston
evaluate the landscape of operating
businesses, a medium-sized organization is
one with 100 to 499 employees or $10
million to less than $50 million in yearly
gross sales.

5. L A R G E B U S I N E S S E S
Efe Gokce says that more than 1,000
workers are typically employed by
large organizations, which frequently
have total revenues of $50 million or
more. They may issue corporate
shares to raise money for operations
as a publicly listed corporation.

6. H O W D O Y O U L A U N C H
A N O N L I N E B U S I N E S S ?
Y O U S T I L L N E E D T O D O M A R K E T R E S E A R C H
A N D W R I T E A B U S I N E S S P L A N B E F O R E
M O V I N G F O R W A R D . O N C E T H A T I S C O M P L E T E ,
C H O O S E T H E N A M E A N D S T R U C T U R E O F Y O U R
B U S I N E S S A N D S U B M I T T H E R E Q U I R E D
P A P E R W O R K T O R E G I S T E R I T .
R A T H E R T H A N S E E K I N G A P H Y S I C A L
L O C A T I O N , C H O O S E A P L A T F O R M A N D B U I L D
Y O U R W E B S I T E . B E F O R E S T A R T I N G Y O U R
B U S I N E S S , Y O U S H O U L D F I N D A M E A N S T O
I N C R E A S E Y O U R T A R G E T M A R K E T , W H E T H E R
I T B E T H R O U G H T R A D I T I O N A L M A R K E T I N G
C H A N N E L S O R M O R E C U T T I N G - E D G E O N E S
L I K E S O C I A L M E D I A .

7. H O W D O Y O U C O M E U P W I T H
A B U S I N E S S N A M E ?
Your business name ought to be catchy and
suitable for the type of enterprise you plan to run.
Efe Gokce says that additionally, it should be
something that people will associate with you and
your intended offerings of goods and services. It's
critical to be original. The most important thing is
that no one else should be using the name. Search
online to see if a business name is available or
taken.

8. H O W D O Y O U W R I T E
A B U S I N E S S P L A N ?
A C C O R D I N G T O E F E G O K C E , A T Y P I C A L
C O R P O R A T E S T R A T E G Y I S Q U I T E T H O R O U G H
A N D D E T A I L E D . T H I S I N C L U D E S A S U M M A R Y
O F T H E C O M P A N Y ' S O P E R A T I O N S A N D I T S
S U C C E S S - O R I E N T E D T A C T I C S . I T A L S O
I N C L U D E S I N F O R M A T I O N O N Y O U R
M A N A G E M E N T , T H E M A R K E T , Y O U R
I N D U S T R Y , P R O M O T I O N S , A N D S A L E S
P R O J E C T I O N S .
L E A N F O R M S A R E S T R E A M L I N E D Y E T S T I L L
C O N T A I N A W E A L T H O F U S E F U L D A T A , S U C H
A S P A R T N E R S H I P D E T A I L S , S U M M A R I E S O F
T H E B U S I N E S S ' S A C T I V I T I E S A N D C L I E N T
R E L A T I O N S H I P S , C O S T S T R U C T U R E S , A N D
S O U R C E S O F R E V E N U E .

9. A partnership is a business-related
working agreement between two
or more people. Each partner
contributes funds and resources
to the business, and they equally
share in its profits and losses. The
joint gains and losses are broken
down on each partner's tax return.
P A R T N E R S H I P S

10. T H A N K S
F O R
W A T C H I N G
E F E G O K C E