1. Clear Objective: Before you invest in your idea and set up the business, it is necessary to have a plan of action with a clear objective. Research the market, understand the legal requirements, decide on a business model, and set realistic goals. Hariom Seth, Founder, and CEO of Find.Inc, suggests, "Make sure your idea is something people actually want or need before you invest time and resources into it. Analyze the competition and conduct market research to see if there is a market for your goods or services."

2. Get the Necessary Legal Approvals: It is important to register your business with the government and fulfill all the regulatory approvals. Get all the necessary licenses and permits from the authorities.

3. Secure Funding: Government schemes such as the Single Point Registration Scheme (SPRS), Pradhan Mantri Mudra Yojana, and Startup India Seed Fund Scheme can help secure funding. "Small enterprises have access to financing through both public and private sector banks," Seth added. Obtaining start-up capital may be challenging if your business hasn't yet demonstrated its ability to be profitable. To persuade investors that your idea is feasible, create a succinct business plan explaining your spending goals and anticipated returns.

4. Research your client: Client research is essential to start a business because it helps business owners understand their target market and identify potential customers. Sundeep Rana, Co-Founder of NetSetGo Media, noted, "Picture who your ideal client is - this is the initial step to really sorting out where your thought squeezes into an ocean of consumers. Determine how your solution will fit into the market and people's lives."

5. Marketing Strategy: Develop a marketing plan and find ways to get the word out about your business. Use digital marketing, search engine optimization, and social media as tools to reach potential customers. Nidhi Aggarwal, Founder of Spacemantra, said, "Determine the issue that is being resolved. Every successful business, product, or service makes life better for its customers by solving a problem." Seth suggested, "A simple website with a dedicated landing page for the product and the use of social media are both efficient ways to gather information and keep track of the number of people who are interested in what you're offering."