The average startup takes around 4 years to truly be successful and generate significant revenue. But how long does it take to start a business? How can you launch faster to get the revenue-generating sooner?
Starting a business is an exciting time but it can also be very stressful. Many people wonder how to speed up the business timeline while others get stuck on which of their business ideas is best.
In this article, we’ll discuss how long it takes to start a business. And give a few tips on growing a business to reduce the time between startup and success.
How Long Does It Take to Start a Business?
There are countless types of businesses out there, so saying a definite amount of time to start a business would be impossible. Businesses with more funding will be able to launch faster than those with a limited budget.
Before a business launches, it should have the following in place:
- Business model and focus
- Business plan
- Business structure in place
- A website
- Marketing plans
Once you have the business basics in place, you have to consider what you need to do before the launch and then after the launch.
Business Timeline: Before Launch
How quickly you launch will depend on how quickly you can complete the before activities. You should create a business plan, figure out your brand’s identity, and secure the licenses/permits needed to operate.
This can be incredibly time-consuming and expensive. There are many small business loans available to help speed up the process.
You should complete the before activities 6 to 12 months before launch. Running a business is not a get-rich-quick setup. You should start marketing the business during this timeframe to get excitement growing about your upcoming launch.
Of course, if you are launching an online business, this timeline is shortened significantly. Yes, you still need a business plan, marketing, etc., but you can get it moving much more quickly. You don’t have to wait for a building to be completed or stage a store with this model.
Business Timeline: After Launch
Once you’ve launched, you have to focus on growth. You need to get in front of customers and make them want to buy your products or services. If you are offering a service, you have to make the brand a market leader to get the most clients.
Then, once you have regular revenue coming in, you need to focus on scaling. It’s truly a neverending process.
Learn More About Business Management
Now that we’ve answered, “How long does it take to start a business?” you are ready to get started with your timeline! If you’re still in the beginning stages, you may need to do more research.
Time may be of the essence and everyone is eager to launch. But it’s best to take your time and do it correctly. If you are interested in more business articles, check out our blog!