Rep. Ron Paul (R-Texas) said Tuesday that he plans to announce whether he will run for president within the next week.

The libertarian favorite announced his timeline during a visit to Iowa, where he attended the opening of his presidential exploratory committee's first office there.

"It’s making sure I have the right people in the organization and making sure that we’re organized and ready to go," Paul said, according to the Des Moines Register. "We should be able to decide that within the week."

The congressman's announcement indicates he is preparing to step up his campaign efforts early in order to attract supporters and run a stronger campaign than he did in 2008. 

Paul announced the formation of his exploratory committee just two weeks ago. At the time, Paul said he would decide whether to run for president within a month. 

Paul is looking to make waves in Iowa, the state hosting the first-in-the-nation caucuses, to build momentum for his bid. He held a press conference in Des Moines to make his exploratory committee public and has already hired staff to work the state. 

The Texan said he believes Iowa voters are more receptive to his staunch belief in fiscal conservatism and limited government in 2012 compared to his last presidential bid in 2008, according to the Register.

"The conditions of the county are so much different when it comes to the economy, the foreign policy, the debt problem that we have, and the frustration and the anger that we have with the people," he said. "These last four years there’s been a lot of changes and a lot of changing attitudes."