Starting a business can be a thrilling and rewarding experience, but it can also be overwhelming and risky. If you think you’re ready to jump into a full-time startup, there are some important steps you need to address first. Here are four key things you need to do before starting a business:

1. Conduct market research: Before you invest time and money into your business venture, it’s important to do your research and determine if there’s a viable market for your product or service. Identify your target customer, analyze competitors and assess potential demand to ensure your business has a chance for success.

2. Write a business plan: A solid business plan will serve as the roadmap for your business. It should include your goals, target market, marketing strategy, financial projections and more. A well-thought-out business plan will provide direction and help you stay focused on your goals.

3. Secure funding: Starting a business requires capital, whether it’s from investors or your own savings. Identify the costs involved in starting and running your business and determine the best way to fund those expenses. Consider all your options, such as loans, grants, crowd-funding or equity financing.

4. Choose a business structure: There are several types of business structures, including sole proprietorship, partnership, LLC, and corporation. Each has its own legal and tax implications, so it’s important to choose the one that best fits your business needs and goals.

Starting a business can be a complex process but taking the time to properly plan and prepare can increase your chances of success. By following these four steps, you’ll be on your way to building a solid foundation for your business venture.