How to Start a New Business – 5 Steps

So, from the previous paragraph, you realized you had to do something. So, in order for us to build a step-by-step plan, you need to have a clear understanding of exactly what you want, and know-how of what you are going to do to start your business. Read more to start the business and get the benefits of pvt ltd company

Step 1. Select the business idea

Think about what idea is closest to you and which you can successfully implement. Do this based on your life experience, professional knowledge and skills. To win, you have to do it better than your competitors. Analyze your competitors, think about what you can do better than them, and what your competitive advantage is.

Fred de Luca (founder of the subway chain) went to several competing companies before opening his first restaurant. Somewhere he wanted the filling for the accessory, the shape of the accompaniment somewhere and the dough that made this bread somewhere. So he put it all together, borrowed two cooking tips from the chefs and cooked his perfect mate! Now we have.

Step 2. Express the idea

Do not be lazy and answer the following questions in one paper:

  1. Demand for your product or service (an article about it);
  2. Are you familiar with the topic;
  3. Your product or service is better / better / cheaper than what is available in the market;
  4. You have utp (). You know why you should buy from, it is undeniable;
  5. You know who your customers are;
  6. You know how to sell/deliver your product or service;

If each object has a (+) opposite, you can safely start.

Step 3. Create an action plan

You should briefly describe what needs to be done. For example:

  1. Write down your competitors, identify their strengths and weaknesses, and then look at your weaknesses. Strength and compare;
  2. Write down the advertising opportunities you can buy. Here, for example, and accompanying articles. Be sure to visit the section because there you will find many ways to sell and advertise;
  3. What you need in the first stage: disposable items, aggregates, equipment, etc .;
  4. Calculate how much money you need to be “clean” (excluding expenses);
  5. What is the minimum number of customers per day/week/month to get the desired return;
  6. How much money can you save from one sale to grow your small business;
  7. What will you spend the first accumulated money to improve your business;
  8. Do you need documents, certificates, or business registration or you can do without them first. Often at first, you can not draw anything, but to expand further, it has to be done. But if you want to work with the law in the beginning. Individuals, then need to register or find someone with a legal entity. Face. Articles will help you with this: and.

Maybe I missed something, but it will be enough to start your business anew and start testing real customers already.

Step 4. Start selling

We start selling.
– If it is a service. Test your friends’ services. Let them share their opinion about the services you provide. So, for example, if you decide to open a beauty salon at home, first do some hairstyles for your sister or girlfriend. Make day and evening makeup for them and get feedback on it. If everything goes well, we start looking for customers. To get started, you can create a group on social networks and invite women from other competing groups there.

– If it is a product. If you decide to start a business selling a product, such as dropshipping, buy a copy of the product you are selling first. To ensure its quality. Review this product. Post your group on the web or on social networks. Invite potential buyers from other, similar groups.

Step 5. Adjustment

I firmly believe that in the process of work your plan will be adjusted by you and become 50% or more. That’s right. Not everything can be predicted at once. If you make changes, that’s good, because the “test by battle” helps you plan your next actions more accurately and faster.

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