Starting a Business? What You Need to Know Before Launch

In celebration of Startup Day Across America on August 1, SCORE shares essential steps entrepreneurs need to take before launching a successful business.

WASHINGTON, July 29, 2025 /PRNewswire/ -- Congratulations—you're ready to start your own business. While launching a business is an exciting and rewarding journey, it's also a complex one that requires careful planning and preparation. SCORE, the nation's largest network of volunteer, expert business mentors, offers a roadmap to help aspiring entrepreneurs start their businesses the right way—and set themselves up for long-term success.

"Starting a business takes more than a good idea," said Bridget Weston, CEO of SCORE. "It takes a clear purpose, a thoughtful plan, and a strong support system. That's where SCORE mentors come in—to help entrepreneurs navigate every stage of their startup journey with confidence."

Whether your startup is creating something new in the marketplace, improving upon an existing product or anything in between, founders need three key elements to get started. When you're ready to kick off your startup, be prepared with the following:

Have a Clear Understanding of Your Purpose

Why are you embarking upon this business venture? And why now? Get clear on your WHY. It may seem obvious but if you don't understand why you're starting your business, neither will your customers.
Your WHY should reflect your business' purpose—its reason for existence. For example, maybe you recognized an unmet need in your community or perhaps you improved upon an existing product. It's important to be clear about the intention of your business and the value you provide to customers.

A Business Plan

Would you go on a road trip without a map? The answer is probably no. You need directions to get where you're going. The same rule applies when starting a business. With a business plan, you can plot a course from startup to success.

Plans typically include:

• A summary of your business, including the product or service you're selling, your mission statement and current team members.
• A breakdown of your product or service, including what makes it viable in your market.
• Market research that demonstrates an understanding of your industry and your competition. Research your biggest competitors to understand what makes them successful.
• A SWOT analysis that delineates your business' strengths, weaknesses, opportunities and threats.
• A compelling marketing strategy that illustrates how you'll attract and retain customers.
• Financial projections that show potential investors the viability of your business. Include a financial forecast for the next one, five, or even ten years.

As you work through your business plan, check out SCORE's Startup Roadmap. It offers a step-by-step online guide to help you create a thorough plan for your new business.

A Strong Support System

Your business is more likely to be successful with a support system. Surround yourself with people who can offer guidance, encouragement and constructive criticism. That may be friends or family who have a strong understanding of your market, experience running a business, or members of your professional network willing to give you their time and perspective.

Identifying a mentor is one of the best moves an entrepreneur can make, and the reasons are well-founded. Small business owners who receive more than three hours of mentoring report higher revenues and increased business growth, according to SCORE data. "SCORE asks you questions and challenges you in ways that prepare you to be successful," explains SCORE client Demitri Patitsas, owner of The Greek Shack in Mountaintop, Pa.

Mentors are business professionals with experience operating a healthy business who can guide you through your entrepreneurial journey. They act as a sounding board as you grow your business, connect you with resources and provide advice when you hit bumps along the way.

As you prepare to launch your business, SCORE can connect you with a free, expert small business mentor to help you along your journey. With expertise in all aspects of starting and growing a business, SCORE mentors can guide you to resources and tools that can help you succeed.

To learn more about SCORE, request a mentor or volunteer to be one, visit SCORE.org

About SCORE
Since 1964, SCORE has helped more than 17 million entrepreneurs start, grow or successfully exit a business. SCORE's 10,000 volunteers provide free, expert mentoring, resources and education in all 50 U.S. states and territories.

Funded [in part] through a Cooperative Agreement with the U.S. Small Business Administration.

CONTACT:
SCORE
202-968-6428
[email protected]

Visit SCORE's media resources to connect with expert small business interview sources and news updates.

SOURCE SCORE