Create a detailed business planWhile not necessary, having a full-fledged business plan in place can be useful, especially if you intend to seek funding for your business. Usually, a business plan includes, but is not limited to:Your company nameAn executive business summaryOperations and managementMarketing and sales strategyFinancial projections3. Register and protect your businessOnce the company's name, location, and business structure are determined, you may consider registering your business. Doing so allows you to access legal benefits, tax benefits, and business insurance, like State Farm's Business Owners Policy, which can help protect your operations from unforeseen events. Learn more about how State Farm small business insurance coverage options can help your business thrive.

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