Today, own business is firmly associated with many people with freedom and prosperity, which they will never find when they are hired, workers. Only for most people, the dream of their business remains just a dream. And all because novice entrepreneurs cannot determine their niche, do not know where to get resources for business development, and do not even know where to begin your entrepreneurial path.
If all these doubts gnaw at you, then why not learn how others started their business and not listen to their advice? So, you decided to open your business. What must be done first?
Choose the market niche
Today many of those who want to do business do not even imagine what exactly this should be for the business. Therefore, the first thing that needs to be understood is in what field to begin work. Best of all, of course, if you have your own original idea.
But even such a simple business as sales requires certain conditions. The most important of them – your business should stand out among a lot of competitors. Form a unique trade proposal, find your “SPECIAL OFFER”. This can be as an exclusive product, and low prices or special conditions of service.
It is worth noting that the choice of business must be correlated with its financial goals. If you want to earn a million, you need to understand that it is practically impossible to sell small things. Therefore, it is worth looking for a product that will sell very well or is very expensive.
Most likely, a modest trading business that requires small investments, and incomes will bring relatively modest. But it will allow a novice businessman to try his hand, gain experience and earn a certain amount of capital, which can then be invested in the launch of a more serious project.
Learn the market and calculate
Determine with possible demand and tested the idea on friends? Do not dwell on this. Be sure to conduct market research and calculate the financial part of the future project. First, understand if you have competitors, and try to study them, see how they conduct the work.
Make a business plan, paying serious attention to marketing analysis. If you do not have enough competencies for such work, try to engage professionals, even if you are limited in funds. Professionals can be attracted not for money, but for their own services. Or at least just actively communicate with them and ask for help. As a rule, few people can refuse a person when they see his sincere desire to open their own business. Participation of competent specialists will reduce the risk of possible errors.
Having finished with the analysis of the market and making sure that the business can be successful, make financial calculations. Firstly, it will help you to determine the necessary amount of investment yourself. Secondly, without competent financial calculations, the chances of finding money at the beginning of your business are almost zero. The idea that you sell to the investor itself is worthless. It is necessary to show on the calculation how successful it will be. By the way, financing your project is another issue that will require a serious approach.
Think about the financing issue
Open a more or less promising business in general without financial investment is impossible, no matter what the popular business coaches said. Another question is whether it is worthwhile to get into debt and invest too much for the sake of starting your business.
Even if your project is quite complex and requires the organization of production, you can do without ruinous loans. Instead, it is better to turn to the means of state support of entrepreneurship, for example, to the same business incubators, where they can provide preferential rent of premises or consultations of specialists. But to say true, this method is not suitable for everyone, and it is often not so easy to dislodge support from the state.
Another way – to invest the accumulated money, let the amount be small. At the same time, you can save on various items of expenditure. For example, for example, renting a room on preferential terms or renting only some part of the premises, making a website for your business on a free designer, an advertising campaign to be carried out in social networks.
You can also raise funds in business by finding a business partner. But it is very important to competently and responsibly treat his choice. Often, beginning entrepreneurs are in a hurry to find a business partner who would help with financing, and for the sake of money, they are going to unfavorable conditions, which they then regret very much. You need to choose thoroughly. It is desirable that the partner be your complete opposite. This will correctly distribute the duties. If you are a leader and an idea generator, your partner should take on organizational issues.
To not only launch, but also successfully manage the future business, management competencies and leadership qualities are needed. Of course, charisma and a propensity for leadership can be attributed to innate traits of character, but management skills can be developed, having received a special education. It will allow you to understand how the business is organized, and also help to assess its viability and, if necessary, to find another option.
By the way, it is necessary to raise the competence not only for the businessman himself but also for his staff. Immediately prepare for the fact that ready-made ideal employees for your business you will not find. Personnel need to be trained on the spot, and for this, one must himself be well-grounded in his work.
Along with the product itself, which produces your business, management competencies are one of the most important conditions for success. Another condition – competent advertising.
Do not forget about advertising
The problem is that starting entrepreneurs again do not have so much money that you can spend on this expense item. Therefore, it is worth starting to try free advertising tools, such as promotion in social networks or word of mouth. Paid the same options for placement must be tested, understand what response they have to the public and how effectively they work.