Step 1) Research
Once you have an idea of the type of business you want to start, you can then go about researching the feasibility of the business. Things you will want to take into consideration include competition, fees you will charge for your products and services (make them too high and no one will buy from you, too low and people will think there is something wrong), and funding your business, to name a few.

Once you have done your research, you can decide if you want to move forward with your idea, or tweak it a little to make it more successful.

Step 2) Business plan/funding
Next, you will need to make a business plan and secure funding for your business. If you are planning on getting a small business loan, then you will need to have a business plan. Even if you are using your own savings, or a credit card, or funding your business another way, a business plan is still a good idea, as it gives you a road map to not only starting your business, but running it as well.

At this point, you will also want to start applying for loans, if you plan on getting a loan. Make sure your credit is free of blemishes first.

Step 3) Licensing and permits
Once you have obtained funding for your business, you can then go about getting the right licenses. The type of licenses you need will depend on your business and the state you are in, and where you plan on conducting business as well. For example, if you are selling food, you will need a food handler's license, if you have a nail salon, you want to make sure your salon is up to code and all nail techs are certified.

You can contact your local SBA in your area to find out exactly what licensing you will need.

Step 4) Housekeeping
This step includes getting everything set up for the opening of your business, from making sure you have a phone number separate from your business, renting or leasing a space, stocking the office, enough product if you are selling anything, employees hired, and so forth.

Step 5) Marketing
Next, you will want to market your business. This includes things like setting up a website and email addresses, making brochures, handouts, mailers, and so forth, to name a few. There are many different marketing tools you can use to promote the opening of your business.

You may also want to consider writing a press release and sending it to local news outlets. This is a free way to generate publicity for your business.

Step 6) Open for business
Once you have the above steps taken care of and you are legally licensed to operate a business, you can open your doors for business. It's important to continually evaluate how your business is doing.

This is a practical time line for how to start your own business.