Answer :
Final answer:
The first step in starting a business is to develop a business idea, which involves identifying a product or service that could fulfill a need or gap in the market. After this, it's important to perform a market analysis and create a business plan.
Explanation:
Based on the information provided in the textbook, Guillerma's first step in starting a business should be to develop a business idea. This involves identifying a product or service that can fulfill a need or gap in the market. Once that has been figured out, it is vital to perform a market analysis to determine the feasibility of the idea in the current market environment. After establishing the viability of the idea, a business plan will need to be crafted which outlines the details of the business including its objectives, strategies, target market, financial forecasts, etc. The business idea, market analysis, and business plan form the foundation of a successful business startup.
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