Step 1: Identify a business Opportunity. An Idea is not necessary an opportunity. An opportunity is an idea that has a target market (the customers), market structure and margin (profitable).
Step 2: Conduct a market research to ascertain your cost and if your target customers will be willing to pay your project price. Also find out what price competition is doing currently and what is your competitive advantage?
Step 3: Draw up your Business Model Canvas. This will help you see clearly your business at once.
Step 4: Register your business name or incorporate your company with the Corporate Affairs Commission.
Step 5: Obtain your Tax Identification number.
Step 6: Obtain a bank account and insure your business.