When starting up the term “business” associates itself heavily with risk, red tape, rules and regulations and you may well want to abide by those legalities to give yourself a better chance of starting up but does it really help when you’re in a pre-start up phase?
Typically these rules and regulations apply to larger or regulated businesses in order to control commerce. You on the other hand may not be a large business, you may not even be a small business, you could be one man (or woman) armed purely with a single idea that you think might solve a problem.
These rules and regulations could stop you from making a big mistake so its wise to take them on board but its also a good idea to be consumed by them. I’ve seen so many people (who have a business idea but get held back by being too thorough. I myself have started businesses and focused on rules and regulations and associated with the start up except for the number one thing that truly mattered.
Do people want it? And do they actually want to exchange money for it?
Basically can you even make one sale from it?
In my opinion that’s probably the most important rule for a startup. Forget the term business because at a small pre startup stage rules and regulations don’t apply until you make a sale or even re-occurring sales.
Until then all you have is an idea so focus on marketing that idea and making a sale from it to see if its even worthy of pursuing.
You’ll save a whole heap of time and money in doing so.