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How To Build A Startup Business From Scratch in 2020

I am often asked about how I started as an entrepreneur, and I normally say it is easy. I say this to be encouraging -- the idea of starting an online business scares a lot of cash strapped entrepreneurs, who tend to believe you need to be loaded to start out.

I disagree. It can be more difficult if you do not have a fortune to invest with, but you can still build a successful business by using proven processes and routines. Here are four essentials of starting an online startup from scratch today:

1. Find one problem and solve it more thoroughly than anyone else.

What will my company be known for? That is where I normally begin. I do not want to start like others; I want to start with specificity.

When people ask me how to do this, my answer is simple: Find a specific problem and know all you can about it. Become obsessed with that one problem, because there are already people solving it with their brands. That is why you need to find an angle that will help you solve the problem in a new, better way.

No matter how competitive your niche is, there are still little cracks here and there where newcomers can sprout up.

Locate those gaps.

To do that, you need to follow the news. Personally, I follow The Hustle, but Google Trends is also a good way to find new products, news and startups.

2. Start with what you currently have.

For entrepreneurs in 2020, money should not be an excuse.

Even if you only have a little to start with, you can still build your investment into something more substantial.

First, brainstorm a name for the business. Then, find someone who will create a professional logo for cheap -- or, better, create something for yourself.

If your solution requires a lot of functionality, then strike a deal with a pro to design and bring the idea to live. If it just needs to look professional but does not need a lot of technical extras, then you can create it using a build it yourself platform. This will save thousands of dollars.

3. Develop and follow systematic routines.

After the site goes online, you need to develop business habits. There are thousands of tips and habits out there, but I recommend following B. J. Fogg's Tiny Habits strategy to come up with a strategy and routine for each normal business processes.

4. Do not do it alone.

Most people think they have to run the startup race alone in order to reach the top, but separating yourself limits you as an entrepreneur.

That is why you should join mastermind groups in your niche to familiarize yourself about the niche and the customers. These people can help share knowledge that will build your online brand

and take your business to the next level. That way, you will not only learn, but you will stay motivated at all time.