Starting a new business can be both exciting and overwhelming. It often begins with a bright idea for services offered or what you’ll sell–and a keen understanding of why a customer will invest in it. But after that spark of inspiration, how do turn a great idea or product into a sustainable and successful company?

Always begin with the foundation. Creating a strong base will help you create a company that’s geared for growth–and able to withstand the challenges that come next. Here are four steps to help establish a sturdy and dependable foundation for your new business.

1. Know your customer.

A deep understanding of your prospective customer base will help you to know whether your business idea has legs, says Lori Martinek, a branding and digital outreach consultant in the Phoenix area and a mentor with SCORE, an organization that pairs successful business owners with entrepreneurs.

Conduct primary research by talking to people who fit what you believe to be your customer profile and getting their thoughts on your idea. “Avoid asking family or friends and target people who are actual prospects,” Martinek cautions. “Look for people who have bought something like your product before or who have a need you believe your product will solve.”

Consider conducting online surveys to broaden your reach and analyze the data you collect. “You can very cheaply run surveys on a number of different platforms and get any slice of demographic representation you’re looking for,” says Bill Shufelt, co-founder and CEO of San Diego-based Athletic Brewing Company.

Finally, look at community and market data to gain an understanding of the broader market. “Even if you know your ideal customer exists, it’s critical to make sure that the market you’re going after is big enough to sustain your business,” Martinek says.

2. Focus on your business plan. 

“Once you understand your customer, take time to write a proper plan you can follow through at least the first three years of your business,” Shufelt says. A strong business plan helps guide you beyond the launch of your business and through its ongoing management. It’ll help you think through the essential components of your business. It may also help you secure funding from lenders or investors if they see a solid plan for how you’ll generate revenue.

Your plan should include a detailed description of your company and the problem you’re aiming to solve. Describe the product or service that you are providing, identify competitors, and incorporate the market analysis you conducted as you got to know your customers. Include how you will attract and retain these customers, financial projections, and your specific plans for growth. “Make sure you have a solid concept, there’s a real need for it, and you can demonstrate that you solve that problem better than anyone else,” Martinek says.

Once you’ve developed a plan, try to knock it down. Pose hypothetical scenarios that could uncover potential weaknesses or threats to your plan. For example, what if you misidentified your customer base? What if a competitor beats you to market? What if you’re forced to pivot from your initial plan? An industry expert or mentor can help you pinpoint which questions to ask. “It pays to be as prepared as possible, and the best way to do that is by getting objective and frank input,” Martinek says.

3. Identify the right suppliers.

Working with the right suppliers helps ensure that your business runs smoothly and you’re able to deliver products and services to your customer consistently and on time. But how do you identify the best suppliers to work with? “I always tell people looking for suppliers to network, network, network,” says Norman Sherman, a SCORE mentor based in New York City. He suggests finding business affinity groups online or in your area, getting to know other business owners, and asking questions about the suppliers they use.

Look at reviews and ratings of the names you collect. Next, try to get bids from potential suppliers, comparing prices, services, and reliability of delivery. “We had to make a lot of calls to find our suppliers,” Shufelt says. “But it’s all about building the relationships and then gaining references to bigger and bigger partners as you grow.”

4. Choose your technology–and your partners–wisely.

The right technology helps stitch together critical components of your business: your customers, your employees, and your suppliers. But finding the right mix of technologies depends on the individual business, says Christian Nascimento, vice president of product management and strategy at Comcast Business. For instance, he notes that a brick-and-mortar retail store with point-of-sale and Wi-Fi needs may have very different connectivity needs than a home-based mobile app startup.

Consider connectivity partners who can provide multiple solutions, which can help you streamline your operations and ensure the technology solutions you use can work together. “Look for providers who can knit a variety of services together into one unified experience,” Nascimento says. “That type of convergence can really assist a small business as it gets off the ground.”

Get your new business ready to do business with connectivity from Comcast Business. Click here to learn more.

Originally posted on Inc., https://www.inc.com/comcast-business/startup-101-four-building-blocks-for-a-strong-foundation-for-your-business.html