There are more than 190 million business in this world and getting into a competition is so hard. Business could be your dream but are you sure you can get through all the competitions and challenges. If yes then you are on the right spot. We give guidance on business so that you can be a successful business person. When we talk about business, then business is everywhere even your everyday life is also related to a business make a use of it to gain knowledge. Here we are going to learn how to start a business.
To start a business you need to undergo a lot of studies even you would have sleep-less nights. Because what we are going to tell is not just about how to start a business but also think about making your business run in a long term. Most people think that starting a business is hard and managing it could be easy. When you don’t have the experience of managing a whole business how could you judge that. A business man thinks for present as well as future too. Make sure you are able to get all the resourcess so that your business could survive.
Now starting our main topic how to start a business.
To start a business you have to undergo a lots of difficulties. You should be able to give as much time and focus on it. Make sure you get all the things listed here.
1) Self Motivation to do business
Yes you heard it right, the first thing is self motivation because without motivation you won’t see anything as impossible. All those big business man. They where so motivated that they believed that they wont fail. They believed that even though they failed but someday they will surely succeed. They never give up as others do. That is why 98% business shut down within two years of start. And we don’t want you to be of that category. We want you to be of that 2% category who succeed. Have a self motivation for business or if your doing for fun then don’t you could be bankrupt. Business needs passion and hardwork which is made by motivation.
2) Think of a business ideas
Take a look around you, observe what people want and what they are fond of. Make use of your smart brain to manipulate what could have happened if you do that kind of business. Take time and go-throw all kinds of business that people are fond of. If you are passionate on some area then you are free to choose what you want. But if you don’t have an idea then go through the method I told and manipulate what I could be when you own that kind of business. This could give you more idea on your business strategy.
3) Do a market study
This is the most important factor you need to pay attention to. To grow your business you need to study the market. You can watch Youtube to gain knowledge on how to do a market research. You have to spend a lot of time researching the market and get the answers to these following questions.
How many same business competitors are in your area?, At what cost they are selling there products or service?, What is the manufacturing cost of that product or what could be the value of the service you provide? Etc..
People usually likes cheap products or service at good quality. So make use of this strategy and give your opponents business a big challenge.
4) Get feedbacks
Usually the feedbacks before starting a business is good because it could give you a public opinion on what they want in that product or service. You can take feedbacks from your known ones. Make a list of each feedbacks and learn because they can guide you through different taste of choice.
It can help you make a business which works according to publics likes.
5) Make a business Plan
The second most important thing to do is making a business plan and decide a company name, Logo, Tagline etc. You need to describe what is your business about and what service or products it provides, How your business works. Etc. You can learn how to make a business plan from Youtube.
Business plans is essential to get all the things done mentioned down.
6) Give your business an identity
Make sure you get all the documents and licenses needed from your country government. I not mentioning documents because each country have different documents and licences needed. But yes the business plan is needed in all the countries to get your business an official identity.
Next is to get a business bank accounts. Here too you have to prove your business identity for that you need government documents issued by your country. Make a payment gateway so that your online customers can make easy transaction with you.
7) Get Finance
Next important step is to get a Finance. If you have the finance on your hand then that’s great if no then you need to find investors if not getting any then try angel investors. If none then you have only one choice that is bank loan. Start from small business don’t jump into big markets asap. This is the biggest mistake a business people make they jump into a big market without being established. Even a small business can give a big challenge to a Big business. The reason why I recommend a no is because you are new to market and getting a lot of money flow on the beginning can make you close to bankrupt if your business is in loss.
8) Find Locations
You don’t need a popular location to set your business, You just need a location where people can come and go easily without having any trouble. If you choose a popular area in your city then that could boost the cost of location as well. If you choose a normal area where coming and going is easy then offcourse people will come to you.
9) Get some good employee
A good and trusty employee are the key to successful business. Look your employee as an asset because if they don’t work for you then your business could not exist for long. Make them happy and they will happy you b making your business grow.
10) Grow your business
Many small business don’t try to grow. They just like to stay where they are now. If you don’t expand your business then how can you be rich? You had a dream of a successful business and years passed still you are stucked in that small business. Change that and get more of your branch spread across the city and spread it across the countries. Then see the difference. I am not saying to expand it on one go. Make this process slow. Give time to your buisness to grow. Make promotions across the social Media and Google.
These where my stands on how to start your own business. Hope you understand what I am talking of and make your process as I guided.
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