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How To Start A Business In 11 Steps (2024 Guide)

Katherine Haan

Contributor

Cassie Bottorff

Editor

Reviewed
Updated: Apr 7, 2024, 1:44pm
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not
affect our editors' opinions or evaluations.
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Table of Contents
Starting a business is one of the most exciting and rewarding experiences
you can have. But where do you begin? There are several ways to approach
creating a business, along with many important considerations. To help take
the guesswork out of the process and improve your chances of success,
follow our comprehensive guide on how to start a business. We’ll walk you
through each step of the process, from defining your business idea to
registering, launching and growing your business.

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Before You Begin: Get in the Right Mindset

The public often hears about overnight successes because they make for a
great headline. However, it’s rarely that simple—they don’t see the years of
dreaming, building and positioning before a big public launch. For this
reason, remember to focus on your business journey and don’t measure
your success against someone else’s.

Consistency Is Key
New business owners tend to feed off their motivation initially but get
frustrated when that motivation wanes. This is why it’s essential to create
habits and follow routines that power you through when motivation goes
away.

Take the Next Step

Some business owners dive in headfirst without looking and make things up
as they go along. Then, there are business owners who stay stuck in
analysis paralysis and never start. Perhaps you’re a mixture of the two—and
that’s right where you need to be. The best way to accomplish any business
or personal goal is to write out every possible step it takes to achieve the
goal. Then, order those steps by what needs to happen first. Some steps
may take minutes while others take a long time. The point is to always take
the next step.

1. Determine Your Business Concept

Most business advice tells you to monetize what you love, but it misses two
other very important elements: it needs to be profitable and something
you’re good at. For example, you may love music, but how viable is your
business idea if you’re not a great singer or songwriter? Maybe you love
making soap and want to open a soap shop in your small town that already
has three close by—it won’t be easy to corner the market when you’re
creating the same product as other nearby stores.

If you don’t have a firm idea of what your business will entail, ask yourself
the following questions:

 What do you love to do?

 What do you hate to do?
 Can you think of something that would make those things easier?
 What are you good at?
 What do others come to you for advice about?
 If you were given ten minutes to give a five-minute speech on any
topic, what would it be?
 What’s something you’ve always wanted to do, but lacked resources
for?
These questions can lead you to an idea for your business. If you already
have an idea, they might help you expand it. Once you have your idea,
measure it against whether you’re good at it and if it’s profitable.

Your business idea also doesn’t have to be the next Scrub Daddy or Squatty
Potty. Instead, you can take an existing product and improve upon it. You
can also sell a digital product so there’s little overhead.

What Kind of Business Should You Start?

Before you choose the type of business to start, there are some key things
to consider:

 What type of funding do you have?

 How much time do you have to invest in your business?
 Do you prefer to work from home or at an office or workshop?
 What interests and passions do you have?
 Can you sell information (such as a course), rather than a product?
 What skills or expertise do you have?
 How fast do you need to scale your business?
  What kind of support do you have to start your business?
 Are you partnering with someone else?
 Does the franchise model make more sense to you?
Consider Popular Business Ideas
Not sure what business to start? Consider one of these popular business
ideas:
 Start a Franchise
 Start a Blog
 Start an Online Store
 Start a Dropshipping Business
 Start a Cleaning Business
 Start a Bookkeeping Business
 Start a Clothing Business
 Start a Landscaping Business
 Start a Consulting Business
 Start a Photography Business
 Start a Vending Machine Business

2. Research Your Competitors and Market

Most entrepreneurs spend more time on their products than they do getting
to know the competition. If you ever apply for outside funding, the potential
lender or partner wants to know: what sets you (or your business idea)
apart? If market analysis indicates your product or service is saturated in
your area, see if you can think of a different approach. Take housekeeping,
for example—rather than general cleaning services, you might specialize in
homes with pets or focus on garage cleanups.
Primary Research
The first stage of any competition study is primary research, which entails
obtaining data directly from potential customers rather than basing your
conclusions on past data. You can use questionnaires, surveys and
interviews to learn what consumers want.
Surveying friends and family isn’t recommended unless they’re your target
market. People who say they’d buy something and people who do are very
different. The last thing you want is to take so much stock in what they say,
create the product and flop when you try to sell it because all of the people
who said they’d buy it don’t because the product isn’t something they’d buy.
Secondary Research
Utilize existing sources of information, such as census data, to gather
information when you do secondary research. The current data may be
studied, compiled and analyzed in various ways that are appropriate for
your needs but it may not be as detailed as primary research.

Conduct a SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities and threats.
Conducting a SWOT analysis allows you to look at the facts about how your
product or idea might perform if taken to market, and it can also help you
make decisions about the direction of your idea. Your business idea might
have some weaknesses that you hadn’t considered or there may be some
opportunities to improve on a competitor’s product.
Asking pertinent questions during a SWOT analysis can help you identify and address weaknesses before they tank
your new business.

3. Create Your Business Plan

A business plan is a dynamic document that serves as a roadmap for

establishing a new business. This document makes it simple for potential
investors, financial institutions and company management to understand
and absorb. Even if you intend to self-finance, a business plan can help you
flesh out your idea and spot potential problems. When writing a well-
rounded business plan, include the following sections:
 Executive summary: The executive summary should be the first item
in the business plan, but it should be written last. It describes the
proposed new business and highlights the goals of the company and
the methods to achieve them.
 Company description: The company description covers what
problems your product or service solves and why your business or
idea is best. For example, maybe your background is in molecular
engineering, and you’ve used that background to create a new type of
athletic wear—you have the proper credentials to make the best
material.
 Market analysis: This section of the business plan analyzes how well
a company is positioned against its competitors. The market analysis
should include target market, segmentation analysis, market size,
growth rate, trends and a competitive environment assessment.
 Organization and structure: Write about the type of business
organization you expect, what risk management strategies you
propose and who will staff the management team. What are their
qualifications? Will your business be a single-member limited liability
company (LLC) or a corporation?
 Mission and goals: This section should contain a brief mission
statement and detail what the business wishes to accomplish and the
steps to get there. These goals should be SMART (specific,
measurable, action-orientated, realistic and time-bound).
 Products or services: This section describes how your business will
operate. It includes what products you’ll offer to consumers at the
beginning of the business, how they compare to existing competitors,
how much your products cost, who will be responsible for creating the
products, how you’ll source materials and how much they cost to
make.
  Background summary: This portion of the business plan is the most
time-consuming to write. Compile and summarize any data, articles
and research studies on trends that could positively and negatively
affect your business or industry.
 Marketing plan: The marketing plan identifies the characteristics of
your product or service, summarizes the SWOT analysis and analyzes
competitors. It also discusses how you’ll promote your business, how
much money will be spent on marketing and how long the campaign is
expected to last.
 Financial plan: The financial plan is perhaps the core of the business
plan because, without money, the business will not move forward.
Include a proposed budget in your financial plan along with projected
financial statements, such as an income statement, a balance sheet
and a statement of cash flows. Usually, five years of projected financial
statements are acceptable. This section is also where you should
include your funding request if you’re looking for outside funding.
Learn more: Download our free simple business plan template.
Come Up With an Exit Strategy
An exit strategy is important for any business that is seeking funding
because it outlines how you’ll sell the company or transfer ownership if you
decide to retire or move on to other projects. An exit strategy also allows
you to get the most value out of your business when it’s time to sell. There
are a few different options for exiting a business, and the best option for you
depends on your goals and circumstances.

The most common exit strategies are:

 Selling the business to another party

 Passing the business down to family members
 Liquidating the business assets
 Closing the doors and walking away
Develop a Scalable Business Model
As your small business grows, it’s important to have a scalable business
model so that you can accommodate additional customers without incurring
additional costs. A scalable business model is one that can be replicated
easily to serve more customers without a significant increase in expenses.
Some common scalable business models are:

 Subscription-based businesses
 Businesses that sell digital products
 Franchise businesses
 Network marketing businesses
Start Planning for Taxes
One of the most important things to do when starting a small business is to
start planning for taxes. Taxes can be complex, and there are several
different types of taxes you may be liable for, including income tax, self-
employment tax, sales tax and property tax. Depending on the type of
business you’re operating, you may also be required to pay other taxes,
such as payroll tax or unemployment tax.

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4. Choose Your Business Structure

When structuring your business, it’s essential to consider how each

structure impacts the amount of taxes you owe, daily operations and
whether your personal assets are at risk.

LLC
An LLC limits your personal liability for business debts. LLCs can be owned
by one or more people or companies and must include a registered agent.
These owners are referred to as members.
Pros
 LLCs offer liability protection for the owners

 They’re one of the easiest business entities to set up

 You can have a single-member LLC
Cons
  You may be required to file additional paperwork with your state on a
regular basis
 LLCs can’t issue stock
 You’ll need to pay annual filing fees to your state
Limited Liability Partnership (LLP)
An LLP is similar to an LLC but is typically used for licensed business
professionals such as an attorney or accountant. These arrangements
require a partnership agreement.
Pros
 Partners have limited liability for the debts and actions of the LLP

 LLPs are easy to form and don’t require much paperwork

 There’s no limit to the number of partners in an LLP
Cons
 Partners are required to actively take part in the business
 LLPs can’t issue stock
 All partners are personally liable for any malpractice claims against
the business
Sole Proprietorship
If you start a solo business, you might consider a sole proprietorship. The
company and the owner, for legal and tax purposes, are considered the
same. The business owner assumes liability for the business. So, if the
business fails, the owner is personally and financially responsible for all
business debts.
Pros
 Sole proprietorships are easy to form

 There’s no need to file additional paperwork with your state

 You’re in complete control of the business
Cons
 You’re personally liable for all business debts
 It can be difficult to raise money for a sole proprietorship
 The business may have a limited lifespan
Corporation
A corporation limits your personal liability for business debts just as an LLC
does. A corporation can be taxed as a C corporation (C-corp) or an S
corporation (S-corp). S-corp status offers pass-through taxation to small
corporations that meet certain IRS requirements. Larger companies and
startups hoping to attract venture capital are usually taxed as C-corps.
Pros
 Corporations offer liability protection for the owners

 The life span of a corporation is not limited

 A corporation can have an unlimited number of shareholders
Cons
 Corporations are subject to double taxation
 They’re more expensive and complicated to set up than other business
structures
 The shareholders may have limited liability
Before you decide on a business structure, discuss your situation with a
small business accountant and possibly an attorney, as each business type
has different tax treatments that could affect your bottom line.

Helpful Resources
 How To Set Up an LLC in 7 Steps
 How To Start a Sole Proprietorship
 How To Start a Corporation
 How To Start a Nonprofit
 How To Start a 501(c)(3)
5. Register Your Business and Get Licenses

There are several legal issues to address when starting a business after
choosing the business structure. The following is a good checklist of items
to consider when establishing your business:

Choose Your Business Name

Make it memorable but not too difficult. Choose the same domain name, if
available, to establish your internet presence. A business name cannot be
the same as another registered company in your state, nor can it infringe on
another trademark or service mark that is already registered with the
United States Patent and Trademark Office (USPTO).

Business Name vs. DBA

There are business names, and then there are fictitious business names
known as “Doing Business As” or DBA. You may need to file a DBA if you’re
operating under a name that’s different from the legal name of your
business. For example, “Mike’s Bike Shop” is doing business as “Mike’s
Bikes.” The legal name of the business is “Mike’s Bike Shop,” and “Mike’s
Bikes” is the DBA.

You may need to file a DBA with your state, county or city government
offices. The benefits of a DBA include:

 It can help you open a business bank account under your business
name
 A DBA can be used as a “trade name” to brand your products or
services
 A DBA can be used to get a business license
Register Your Business and Obtain an EIN
You’ll officially create a corporation, LLC or other business entity by filing
forms with your state’s business agency―usually the Secretary of State. As
part of this process, you’ll need to choose a registered agent to accept legal
documents on behalf of your business. You’ll also pay a filing fee. The state
will send you a certificate that you can use to apply for licenses, a tax
identification number (TIN) and business bank accounts.
Next, apply for an employer identification number (EIN). All businesses,
other than sole proprietorships with no employees, must have a federal
employer identification number. Submit your application to the IRS and
you’ll typically receive your number in minutes.
Get Appropriate Licenses and Permits
Legal requirements are determined by your industry and jurisdiction. Most
businesses need a mixture of local, state and federal licenses to operate.
Check with your local government office (and even an attorney) for
licensing information tailored to your area.
Helpful Resources
 Best LLC Services
 How To Register a Business Name
 How To Register a DBA
  How To Get an EIN for an LLC
 How To Get a Business License
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6. Get Your Finances in Order

Open a Business Bank Account

Keep your business and personal finances separate. Here’s how to choose a
business checking account—and why separate business accounts are
essential. When you open a business bank account, you’ll need to provide
your business name and your business tax identification number (EIN). This
business bank account can be used for your business transactions, such as
paying suppliers or invoicing customers. Most times, a bank will require a
separate business bank account to issue a business loan or line of credit.
Hire a Bookkeeper or Get Accounting Software
If you sell a product, you need an inventory function in your accounting
software to manage and track inventory. The software should have ledger
and journal entries and the ability to generate financial statements.

Some software programs double as bookkeeping tools. These often include

features such as check writing and managing receivables and payables. You
can also use this software to track your income and expenses, generate
invoices, run reports and calculate taxes.

There are many bookkeeping services available that can do all of this for
you, and more. These services can be accessed online from any computer or
mobile device and often include features such as bank reconciliation and
invoicing. Check out the best accounting software for small business, or see
if you want to handle the bookkeeping yourself.
Determine Your Break-Even Point
Before you fund your business, you must get an idea of your startup costs.
To determine these, make a list of all the physical supplies you need,
estimate the cost of any professional services you will require, determine
the price of any licenses or permits required to operate and calculate the
cost of office space or other real estate. Add in the costs of payroll and
benefits, if applicable.

Businesses can take years to turn a profit, so it’s better to overestimate the
startup costs and have too much money than too little. Many experts
recommend having enough cash on hand to cover six months of operating
expenses.

When you know how much you need to get started with your business, you
need to know the point at which your business makes money. This figure is
your break-even point.

Break-even point = Fixed cost ÷ Contribution margin

In contrast, the contribution margin = total sales revenue – cost to

make product
For example, let’s say you’re starting a small business that sells miniature
birdhouses for fairy gardens. You have determined that it will cost you $500
in startup costs. Your variable costs are $0.40 per birdhouse produced, and
you sell them for $1.50 each.

Let’s write these out so it’s easy to follow:

$500 for the first

Fixed costs:
month

40 cents per
Variable costs:
birdhouse
 $500 for the first
Fixed costs:
month

Price per
$1.50
birdhouse:

$500/($1.50 - 40
The formula:
cents)

$500 ÷ $1.10 = 456 units

This means that you need to sell at least 456 units just to cover your costs.
If you can sell more than 456 units in your first month, you will make a
profit.

Helpful Resources
 The Best Business Checking Accounts
 The Best Accounting Software for Small Business
 How To Open a Bank Account
7. Fund Your Business

There are many different ways to fund your business—some require

considerable effort, while others are easier to obtain. Two categories of
funding exist: internal and external.

Internal funding includes:

 Personal savings
 Credit cards
 Funds from friends and family
If you finance the business with your own funds or with credit cards, you
have to pay the debt on the credit cards and you’ve lost a chunk of your
wealth if the business fails. By allowing your family members or friends to
invest in your business, you are risking hard feelings and strained
relationships if the company goes under. Business owners who want to
minimize these risks may consider external funding.

External funding includes:

 Small business loans

 Small business grants
 Angel investors
 Venture capital
 Crowdfunding
Small businesses may have to use a combination of several sources of
capital. Consider how much money is needed, how long it will take before
the company can repay it and how risk-tolerant you are. No matter which
source you use, plan for profit. It’s far better to take home six figures than
make seven figures and only keep $80,000 of it.

Funding ideas include:

 Invoice factoring: With invoice factoring, you can sell your unpaid
invoices to a third party at a discount.
 Business lines of credit: Apply for a business line of credit, which is
similar to a personal line of credit. The credit limit and interest rate
will be based on your business’s revenue, credit score and financial
history.
 Equipment financing: If you need to purchase expensive equipment
for your business, you can finance it with a loan or lease.
 Small Business Administration (SBA) microloans: Microloans are
up to $50,000 loans that can be used for working capital, inventory or
supplies and machinery or equipment.
 Grants: The federal government offers grants for businesses that
promote innovation, export growth or are located in historically
disadvantaged areas. You can also find grants through local and
regional organizations.
 Crowdfunding: With crowdfunding, you can raise money from a large
group of people by soliciting donations or selling equity in your
company.
Choose the right funding source for your business by considering the
amount of money you need, the time frame for repayment and your
tolerance for risk.

Helpful Resources
 Best Small Business Loans
 Best Startup Business Loans
 Best Business Loans for Bad Credit
 Business Loan Calculator
 Average Business Loan Rates
 How To Get a Business Loan
8. Apply for Business Insurance

You need to have insurance for your business, even if it’s a home-based
business or you don’t have any employees. The type of insurance you need
depends on your business model and what risks you face. You might need
more than one type of policy, and you might need additional coverage as
your business grows. In most states, workers’ compensation insurance is
required by law if you have employees.
Work With an Agent To Get Insured
An insurance agent can help determine what coverages are appropriate for
your business and find policies from insurers that offer the best rates. An
independent insurance agent represents several different insurers, so they
can shop around for the best rates and coverage options.

Basic Types of Business Insurance Coverage

 Liability insurance protects your business against third-party claims
of bodily injury, property damage and personal injury such as
defamation or false advertising.
 Property insurance covers the physical assets of your business,
including your office space, equipment and inventory.
 Business interruption insurance pays for the loss of income if your
business is forced to close temporarily due to a covered event such as
a natural disaster.
 Product liability insurance protects against claims that your
products caused bodily injury or property damage.
  Employee practices liability insurance covers claims from
employees alleging discrimination, sexual harassment or other
wrongful termination.
 Workers’ compensation insurance covers medical expenses and
income replacement for employees who are injured on the job.
Helpful Resources
 Best Small Business Insurance
 Best Commercial Auto Insurance
 How To Get Product Liability Insurance
 Your Guide to General Liability Insurance
 13 Types of Small Business Insurance
9. Get the Right Business Tools

Business tools can help make your life easier and make your business run
more smoothly. The right tools can help you save time, automate tasks and
make better decisions.

Consider the following tools in your arsenal:

 Accounting software: Track your business income and expenses,

prepare financial statements and file taxes. Examples include
QuickBooks and FreshBooks.
 Customer relationship management (CRM) software: This will
help you manage your customer relationships, track sales and
marketing data and automate tasks like customer service and follow-
ups. Examples include Zoho CRM and monday.com.
 Project management software: Plan, execute and track projects. It
can also be used to manage employee tasks and allocate resources.
Examples include Airtable and ClickUp.
 Credit card processor: This will allow you to accept credit card
payments from customers. Examples include Stripe and PayPal.
 Point of sale (POS): A system that allows you to process customer
payments. Some accounting software and CRM software have POS
features built-in. Examples include Clover and Lightspeed.
 Virtual private network (VPN): Provides a secure, private
connection between your computer and the internet. This is important
for businesses that handle sensitive data. Examples include NordVPN
and ExpressVPN.
 Merchant services: When customers make a purchase, the money is
deposited into your business account. You can also use merchant
 services to set up recurring billing or subscription payments.
Examples include Square and Stripe.
 Email hosting: This allows you to create a professional email address
with your own domain name. Examples include G Suite and Microsoft
Office 365.
10. Market Your Business

Many business owners spend so much money creating their products that
there isn’t a marketing budget by the time they’ve launched. Alternatively,
they’ve spent so much time developing the product that marketing is an
afterthought.

Create a Website
Even if you’re a brick-and-mortar business, a web presence is
essential. Creating a website doesn’t take long, either—you can have one
done in as little as a weekend. You can make a standard
informational website or an e-commerce site where you sell products online.
If you sell products or services offline, include a page on your site where
customers can find your locations and hours. Other pages to add include an
“About Us” page, product or service pages, frequently asked questions
(FAQs), a blog and contact information.
Optimize Your Site for SEO
After getting a website or e-commerce store, focus on optimizing it for
search engines (SEO). This way, when a potential customer searches for
specific keywords for your products, the search engine can point them to
your site. SEO is a long-term strategy, so don’t expect a ton of traffic from
search engines initially—even if you’re using all the right keywords.

Create Relevant Content

Provide quality digital content on your site that makes it easy for customers
to find the correct answers to their questions. Content marketing ideas
include videos, customer testimonials, blog posts and demos. Consider
content marketing one of the most critical tasks on your daily to-do list. This
is used in conjunction with posting on social media.
Get Listed in Online Directories
Customers use online directories like Yelp, Google My Business and
Facebook to find local businesses. Some city halls and chambers of
commerce have business directories too. Include your business in as many
relevant directories as possible. You can also create listings for your
business on specific directories that focus on your industry.

Develop a Social Media Strategy

Your potential customers are using social media every day—you need to be
there too. Post content that’s interesting and relevant to your audience. Use
social media to drive traffic back to your website where customers can learn
more about what you do and buy your products or services.

You don’t necessarily need to be on every social media platform available.

However, you should have a presence on Facebook and Instagram because
they offer e-commerce features that allow you to sell directly from your
social media accounts. Both of these platforms have free ad training to help
you market your business.

Helpful Resources
 Best Website Builders
 How To Make a Website for Your Business
 The Best E-Commerce Platforms
 Best Blogging Platforms
 Best Web Hosting Services
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11. Scale Your Business

To scale your business, you need to grow your customer base and revenue.
This can be done by expanding your marketing efforts, improving your
product or service, collaborating with other creators or adding new
products or services that complement what you already offer.

Think about ways you can automate or outsource certain tasks so you can
focus on scaling the business. For example, if social media marketing is
taking up too much of your time, consider using a platform such as
Hootsuite to help you manage your accounts more efficiently. You can also
consider outsourcing the time-consumer completely.

You can also use technology to automate certain business processes,

including accounting, email marketing and lead generation. Doing this will
give you more time to focus on other aspects of your business.

When scaling your business, it’s important to keep an eye on your finances
and make sure you’re still profitable. If you’re not making enough money to
cover your costs, you need to either reduce your expenses or find ways to
increase your revenue.

Build a Team
As your business grows, you’ll need to delegate tasks and put together a
team of people who can help you run the day-to-day operations. This might
include hiring additional staff, contractors or freelancers.

Resources for building a team include:

 Hiring platforms: To find the right candidates, hiring platforms,

such as Indeed and Glassdoor, can help you post job descriptions,
screen résumés and conduct video interviews.
 Job boards: Job boards such as Craigslist and Indeed allow you to
post open positions for free.
 Social media: You can also use social media platforms such as
LinkedIn and Facebook to find potential employees.
 Freelance platforms: Using Upwork, Freelancer and Fiverr can help
you find talented freelancers for one-time or short-term projects. You
 can also outsource certain tasks, such as customer service, social
media marketing or bookkeeping.
You might also consider partnering with other businesses in your industry.
For example, if you’re a wedding planner, you could partner with a florist,
photographer, catering company or venue. This way, you can offer your
customers a one-stop shop for all their wedding needs.
Another example is an e-commerce store that partners with a fulfillment
center. This type of partnership can help you save money on shipping and
storage costs, and it can also help you get your products to your customers
faster.
To find potential partnerships, search for businesses in your industry that
complement what you do. For example, if you’re a web designer, you could
partner with a digital marketing agency.

You can also search for businesses that serve the same target market as you
but offer different products or services. For example, if you sell women’s
clothing, you could partner with a jewelry store or a hair salon.

Helpful Resources
 Best Recruiting Software
 How To Hire Employees
 Where To Post Jobs
 Best Applicant Tracking Systems
What are the Best States to Start a Business?

To rank the best states to start a business in 2024, Forbes Advisor analyzed
18 key metrics across five categories to determine which states are the best
and worst to start a business in. Our ranking takes into consideration
factors that impact businesses and their ability to succeed, such as business
costs, business climate, economy, workforce and financial accessibility in
each state. Check out the full report.
Bottom Line

Starting a small business takes time, effort and perseverance. But if you’re
willing to put in the work, it can be a great way to achieve your dreams and
goals. Be sure to do your research, create a solid business plan and pivot
along the way. Once you’re operational, don’t forget to stay focused and
organized so you can continue to grow your business.

Frequently Asked Questions (FAQs)

How do I start a small business with no money?

What is the best business structure?
Do I need a business credit card?
Do I need a special license or permit to start a small business?
How much does it cost to create a business?
How do I get a loan for a new business?
Do I need a business degree to start a business?
What are some easy businesses to start?
What is the most profitable type of business?
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Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the
products and services we review may not be right for your circumstances. We do not offer financial advice, advisory
or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities.
Performance information may have changed since the time of publication. Past performance is not indicative of future
results.

Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as
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author’s alone and have not been provided, approved, or otherwise endorsed by our partners.

Katherine Haan
Contributor

Katherine Haan is a small business owner with nearly two decades of

experience helping other business owners increase their incomes.
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