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When looking to start a business, don't overlook the value of solid planning. Great strategy and execution are what set successful businesses apart and give them a competitive edge.

Here are five key steps to bringing your business idea to life and set up for success:

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Headshot of Bryan Clayton, left, wearing a navy shirt and wristwatch and a headshot of Barbara Casey, right, wearing an ivory blouse and navy blazer.
Bryan Clayton, left, a cofounder and the CEO of GreenPal, and Barbara Casey, the CEO of Mobile High 5.
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Headshots of Ashley Louise wearing a blue blazer against a pink background and Jenn Robbins wearing a pink and purple floral shirt and glasses
Ashley Louise, left, a cofounder and the CEO of Ladies Get Paid, and Jenn Robbins, the founder of The Flexible Funnel Studio.
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Headshots of Neillie Butler (left) in a a green blazer and Tiffany Mielnik Parrish (right) in a long sleeve blouse
Neillie Butler, left, the president and founder of Mariée Ami Wedding Planning Studio, and Tiffany Mielnik Parrish, the CEO of Selenite Beauty.
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Composite image of Austin Drabik, James Moore, and Brian Meiggs
Austin Drabik, a cofounder of Helm; James Moore, a cofounder of PorchPals; and Brian Meiggs, the founder My Millennial Guide.