A key rule of thumb is to test as much as possible before officially launching. Market research can be tricky—asking people “Would you come if I opened an Italian restaurant here?” doesn’t always give reliable answers. But for certain types of businesses, especially low-cost ones like cleaning services, you can start small and validate demand right away. Go out, find a few clients, and talk directly to potential customers. Many businesses allow you to do this kind of groundwork, reducing risk before you fully commit to launching.

If you’re starting a business for the first time, one of the most important steps is to carefully decide what kind of product or service you want to offer. Take the time to really think it through and brainstorm your ideas thoroughly.Many people see an opportunity and jump in right away without proper preparation. They often don’t fully understand why they are selling a particular product or offering a certain service. This lack of clarity can lead to problems later on.That’s why the most crucial step is to deeply consider what you’re offering, why you’re offering it, and how it will provide value to others before you move forward.

If you're just starting a startup or small business, the most important thing—based on my experience and those I've worked with—is to focus entirely on your product or service. Whether you're offering a service, selling a physical item, or building a SaaS platform, make sure it's something people genuinely want. Then, identify exactly who those people are. Spend 99% of your time refining your product or service and understanding your target audience.