WHY ENTREPRENEURSHIP MATTERS

Entrepreneurship is a key driver of Ada’s economic vitality, fostering innovation, business creation, and long-term job growth. In 2021, our organization was awarded the Build to Scale grant, recognizing our efforts to strengthen the local entrepreneurship ecosystem and expand access to resources for startups and small businesses.

Starting a business involves a series of important decisions, and knowing where to begin is often the hardest part. This page provides a clear, step-by-step guide to starting a business in Ada, along with the tools, resources, and local support available to help you succeed. From validating your idea and creating a business plan to registering your business and connecting with trusted partners, we offer practical information and guidance to help you confidently move from concept to launch.

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STEP 1: CUSTOMER DISCOVERY

At the core of every successful business is a clear understanding of its customer. While passion and ideas matter, long-term success depends on whether people are willing to pay for your product or service. Customer discovery is the process of intentionally identifying who your target customer is and confirming that your business idea solves a real problem for them—before making major financial investments.

Many entrepreneurs start with a general idea but aren’t yet certain who their ideal customer is. Customer discovery helps clarify that by encouraging entrepreneurs to test assumptions, gather feedback, and refine their concept early. This process saves time, reduces risk, and allows businesses to adapt as they learn—flexibility is a key part of entrepreneurship.

Customer discovery basics include:

• Forming a hypothesis: Define the problem you want to solve and the group you believe is most affected by it. This gives you a starting point and allows room to pivot as you learn more.
• Interviewing potential customers: Speaking directly with people in your intended market helps you understand their needs, preferences, and pain points, and informs smarter business decisions moving forward.

For those looking for more guidance, our Entrepreneurship Packet offers step-by-step worksheets to help you move from idea to action.

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STEP 2: CREATING A BUSINESS PLAN

Once you’ve identified your customer and validated your idea, the next step is turning that concept into a clear, actionable business plan. A business plan helps you define your strategy, understand startup costs, and prepare for conversations with lenders, partners, or investors. A strong business plan doesn’t have to be complicated. At a minimum, it should outline what you’re offering, who you’re serving, how you’ll operate, and what it will take financially to get started and sustain the business.

Key elements to consider include:

• Your product or service and the problem it solves
• Target customers and market opportunity
• Basic operations and staffing needs
• Startup costs and expected expenses
• Revenue expectations and pricing

The U.S. Small Business Administration (SBA) offers free, easy-to-use business plan templates and tools that guide entrepreneurs through the process step by step. The SBA also provides a startup cost calculator to help estimate upfront expenses and better understand the financial requirements of launching your business.

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STEP 3: REGISTERING A BUSINESS IN ADA

Once you have a clearer understanding of your customer and business concept, the next step is making your business official. Registering your business ensures you are operating legally and helps set a strong foundation for growth.

Business registration checklist:

• Choose a business structure– Determine the structure that best fits your business (sole proprietorship, LLC, partnership, corporation). This decision impacts taxes, liability, and how your business is managed. Visit the Oklahoma Department of Commerce’s website which breaks down the different legal structures and guides you on how to reserve your business name and more information about the fees associated with an LLC or LP registration.
• Register for state taxes– Depending on your business type, you may need to register with the Oklahoma Tax Commission for sales tax, withholding, or other tax obligations.
• Check local licensing and zoning requirements– For those interested in opening a brick and mortar store, some businesses may require local permits, licenses, or zoning approvals within the City of Ada. Verifying these requirements early can prevent delays.
• Open a business bank account– Separating personal and business finances is an important step for recordkeeping and financial management. An Employer Identification Number (EIN) is required for businesses with employees and is often needed to open a business bank account.

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STEP 4: WHERE TO GO FOR SUPPORT

Starting and growing a business doesn’t have to be done alone. Grow Ada offers a strong network of local and regional partners that provide guidance, training, and technical assistance to entrepreneurs at every stage!

Local and regional support includes:

• Our Team– We serve as a first point of contact for entrepreneurs in Ada, helping connect business owners to the right resources, answer early-stage questions, and identify next steps. We offer one-on-one meetings, host monthly workshops, and provide access to practical tools through our Entrepreneurship Packet.
• The Small Business Development Center provides no-cost, confidential business advising on topics such as business planning, financial projections, marketing strategies, and business registration.
• Rural Enterprises of Oklahoma offers lending, training, and technical assistance designed specifically to support small businesses and entrepreneurs.
• The Chickasaw Nation Small Business Development Center provides prospective and existing Chickasaw small business persons and entities with counseling, training and specialized services concerning the formation, management and operation of small businesses.

If you’re not sure where to start, we can help. Our goal is to make navigating these resources simple and accessible so entrepreneurs can focus on building and growing their businesses!