You Can Start A Business Even If You Have Never Started Before
Select your Topic
- 1 You Can Start A Business Even If You Have Never Started Before
- 2 Choose your business that you love to do
- 3 Build a business on your knowledge and experience
- 4 Consider your finances
- 5 Write your business plan
- 6 Comparing business opportunities
- 7 Sell by creating a Value
- 8 Study a gap in market, competition and your buyers
- 9 Franchisee as a Business Model
Yes, I its true! Want to be your own boss? Yes, You Can! What does generally it needs to start a business. You can start a business even if you have never started or failed to start it before. If you want to start a business but don’t know how to start, don’t worry- you are not alone. In following paragraphs I will show you some tips on to start a business.
Choose your business that you love to do
Find your passion, find your interest. What is your love to do and a life goal. Ask yourself what motivates you to start a business. Take a stand for yourself. Change can only occur when you make a conscious decision to make it happen.
Build a business on your knowledge and experience
Explore yourself. Look at different levels of your personality, your lifestyle, society and age. Listen to your intuition. Ask yourself what makes you happy when you are deep down and tired? Look at the work you have done for others in the past. Your knowledge and the experience you gained through your work. Learn how to combine the knowledge into an offerings, products and services. Learn about other business you may like to do.
Consider your finances
Starting a business requires capital investment in terms of your own funds as well as borrowed money. Money management skills, having the detailed understanding of your personal finances is an essential first step before seeking outside funding for your business. If you don’t have finances or means to borrow money then consider business ideas that requires lesser investments. Borrowing heavily, too is harmful for a business. Consider business that has growth prospectus.
Write your business plan
Without a plan it will be tough to start a business in this competitive world. Sticking to a plan will give you more clarity in tough times. Find your goals and strategies that can turn the dreams into reality. Ask yourself some question – What is your passion? What do you want to establish? What promises should you make to customers? Who will be your customers? What are the action steps to achieve your goals? Driving a Company successfully is an everyday challenge. It requires a patience and more courage. Your focus and confidence will make your success nearer.
Comparing business opportunities
When you are creating a business plan, you have to understand what type of business you want to start? A Small Business – Which requires no or lesser amount of investments. A franchisee business – which requires moderate amount of investments. A High Tech Business – Which requires the large amount of capital to run it.
Sell by creating a Value
Even though you sell the products and services, ask yourself are you creating a value for your customers? The more you provide services and create value, the more you will make money. The most simple way is to find what is customer’s problems and how you will solve them to make them happy and successful.
Study a gap in market, competition and your buyers
Think of the products or services which are in demand but are not supplied or less supplied. You can also consider to provide it in a different way. Talk to your prospective client, ask the problems and pains they find in day to day business. Draw your business plan around the problems to solve.
Franchisee as a Business Model
Franchising industry has clocked the annual growth rate of 30% recording a market size of approximately USD 7.4 billion. In fact, it’s now the second fastest growing industry globally. Consider a franchisee model for a business. But it requires a moderate to large amount of investments as per the franchisee model you choose. You can consider, for example, franchisees of Food, Nutrition, Used Cars business as a profitable idea.
Remember, every successful business person takes lot of time to build their own identity. It takes courage, patience and perseverance to run a business. Are you ready for it?
Share your views and ideas on business in the comments.