How Do I Start a Business in Phoenix, Arizona?

As one of the fastest growing regions in the country, Phoenix offers plenty of incentives for people who are looking to start a business. In fact, it has one of the largest startup sectors in the US. And no matter which industry you are interested in, from autonomous vehicles and cybersecurity to health care and manufacturing, your new company will find a complete ecosystem in which to thrive. 

Here are 4 tips for starting a business in Phoenix, Arizona:

1. Select the perfect business idea

The first step to starting a business is deciding what business to start. To go about this crucial first step consider your interests, your personal goals, and your abilities and include these in a  brainstorming session.

2. Make a thorough business plan

Making a thorough business plan will definitely help set your business on a solid path to success. After all you will be committing your time and money to this project and having a plan can be the difference between a sound investment and a risky bet. 

Your plan should include, at the very least, a name for your business, a full market research, a financial plan, a sales and marketing strategy.

3. Find a great location

A business idea paired with a solid business plan are great things to have, but they are still untested ideas and theories. Now it’s time to actually interact with the real world by selecting the perfect location for your business. Once you have found that ideal area, you may want to test it out. 

A great way to do this is to establish a virtual office in one of the main office buildings in Phoenix. 

A great way to potentialize your virtual office is hiring a live receptionist service. This can help you stay on top of all business inquiries that come through your new local telephone number. 

And whenever you need to conduct business in Phoenix, you can book a meeting room or a private office to work out of for a few hours. All of this without having to commit to long and expensive leases.

4. Get funded

There are many ways to fund your business. You can either put up all the capital yourself, you can get your friends and family to invest in your business, you can apply for a business grant, you can apply for a loan at a bank, or you can use a combination of these to get the money you need to get the ball rolling. 

About Andrés Sanjose

Andrés Sanjose is a writer and editor based in Guatemala. He previously lived in Berlin for 10 years where he witnessed the birth and amazing evolution of the Virtual Office phenomenon, while working as a freelancer in the german capital. He is very interested in what the future holds for this exciting industry and loves to write about it.