Step 1. Less than 1 hour. Set up a subdomain or folder on your main site. Many companies like to use example.com/blog for their blog address. Others like blog.example.com. In terms of effectiveness, most people agree that blog.example.com is seen as a second website, and therefore is more effective. On the other hand, setting up example.com/blog is much easier.

If you choose to go with example.com/blog you don't need to do anything extra. Log into your website via FTP (or talk to whoever manages your website) and create a folder on the root of your site called "blog".

Step 2. 1-2 hours, depending on level of expertise. Download Wordpress from Wordpress.org. Wordpress is a free and easy to use blog software. All you need to do is upload all of the files, create a database and tell Wordpress how to find it. Now that may sound difficult, but there are thousands of easy to follow tutorials online. Your webhost might even help you get started.

Step 3. 1-3 hours. Find a Wordpress theme you like and upload it to your Wordpress folder in wp-content/themes/. After it is uploaded, go to your Wordpress Admin panel found at example.com/blog/wp-admin and log in. Then click Presentation and click on the theme you uploaded. Now your blog has a unique look that helps set it apart from others.

Step 4 (optional). 3 hours and $100-200. Another option for making your blog look even more unique is to have a custom theme created for you. There are many different Wordpress theme creators and they can blend the theme to make it fit your current website, or they could even make a theme based on another website you like. Since you have a different theme on your blog already, you can skip this step.

Step 5. 30 minutes and above. Blogging. This is the step that actually makes the difference. Now you'll want to log into you Wordpress admin panel, click Write and begin writing. You can decide what type of writing you will do. You can stick to company news, or you can spice it up tutorials and tips relevant to your industry. If you start to attract and audience, find out what they like and give them more!

That's it, once you've got the ball rolling try to find a posting frequency that works for you. You'll find that some people like posting multiple times every day. Other people post once a month or less. If you're in a highly agile and constantly changing industry you might want to post daily. If you industry doesn't change often you might find posting once a month works better for you.

Now that you have the plan, get out there and start building your business blog!