How to Start a Business

Working in your own business is a life choice, and yet can be very rewarding. It requires your time and attention. Start believing in your project and live it, so stop being just an idea. There are different opinions about how to start a business, from researching and assembling a detailed business plan and work (get everything organized) to simply follow a passion and passion to make this a profitable business.

Steps

    1. Start with your idea. This probably is not a new invention or a new product. In fact, many small businesses have managed to be successful finding ways to develop an existing product or business more efficient and economical or adapted an existing product to take advantage of an opportunity.
    2. Build a business plan. This does not require hundreds of thousands of pages with graphics. Includes research in certain areas, such as, how much you can charge for the product / service, how much it will cost produce and / or deliver (include variable and fixed costs) and potential market size (number of customers). The plan should evaluate your competitors-how many competitors, how strong they are, where they are, as you’re going to compete. The plan must establish the requirements to enter the market, barriers to entry such as fixed costs (factories, restaurants) and government regulations that must be met.
    3. Determine if you need financing. Your business plan will include a section on financing. How are you managing the costs of implementation and as afrontarás costs early. You will need to apply for a loan at a bank? You’ll use a credit card? You also have to consider your salary while you start the business.
    4. Weapon initial marketing plan. The marketing should not be expensive. Some businesses require very little investment in marketing. For example, many service businesses such as accounting consulting referrals are based on “word of mouth”. You can even search join for free or very low cost to organizations that provide assistance to entrepreneurs and small businesses. The business plan (products, customers, competitors) will help you determine which marketing efforts will be needed.
    5. Build the infrastructure as soon as possible. This is not a big factory or a plush office. Simply means keeping track of customers and good technological support if needed. One of the major causes of small business failures is the lack of knowledge about whether they are losing or making money (requires a proper accounting system). Another common cause of failure in the future is when a small business wants to be sold and there is no proper historical record of transactions and customers. Often, small business customers are your greatest asset and without a proper record of these the company can only be sold at a lower price than would correspond.
    6. Step up and get started. Once you know your business can be profitable jumps and starts. Besides starting business with suppliers and advertising agencies, is forward-looking and new customers. Try to estimate how many customers come in early times and potential accounts to receive payments. Always concentrate on how to make money instead of spending it. The more money go to the company without having to deal with costs, the more profitable your business.
    7. Use the web. Use all available technology that can give your business a competitive advantage. Internet is a client search. Help your future customers to know more about you, the details you offer and why you are better than your competition.
    8. Facilitates payment. In the world today must understand how people pay for goods or services purchased. Bring money one carries a risk, which is why the vast majority of people choose to carry credit cards, such as Visa, MasterCard, American Express or Discover. All these credit cards are part of our everyday society, and help us when purchasing products and / or services. Debit cards are becoming increasingly popular. Because of this, be prepared to accept payments in cash, as credit or debit card. If you have a website, be sure to accept payment methods like PayPal, many customers feel very safe using PayPal.

Acquire modern equipment to process credit card payments.

    Today these machines are easy to find and a very affordable price (about $ 147). Make sure you buy it from a wholesaler and minority such as a bank. Banks usually sell or rent these machines at a price that ends up being higher. The same company that sells these machines are more than willing to offer the service required for the proper functioning of the same. The estimated monthly cost is $ 10. The aim of this is to facilitate customers and self-financing payment thereof.

Tips

  • Use free resources. The public library contains numerous useful information about the incorporation, assembling marketing plans / business enterprises, including specific information for your own industry. The Small Business Association, Chamber of Commerce, and any association related to your industry can be very helpful offering training and maybe giving you financial aid.
  • Be aware that the assembly of a business can take time. Most businesses are not profitable in the cost-term, so the latter note in your personal life. You’ll have to make many sacrifices in order to be your own boss.
  • Provides the means of payment and have a competitive price. Give credit card monthly payment plan and special offers such as two for one and liquidations.

Warnings

  • Having your own business is time consuming. As you are now your own boss will be more difficult to separate your personal life from your work life.
  • Make sure you have spare time. Arm yourself plan time to see your family and friends. As mentioned in the previous caution, having your own business can consume you if you do not know how to drive properly.