Whenever you start a business you should know what you are doing. You should plan how will you start a business! as everything requires planning to be done smoothly with better and profitable outcomes.
People usually get stressed out because they do not know how to start? and how to manage? how to get customers? how to advertise their business? and even they do not have anyone to tell them guide and motivate them
So, this article is a solution for all of these problems here I will give you simple but very helpful 10 steps guide. So lets take a start!
- Find a business idea
So first of all you have to figure out what will you be doing! Something you are really good at and like to do. This will be really good decision. It can be online business or offline business but should be productive enough to pay you back but How will you know that your specific idea is productive or not?
you will get to know by conducting your market research
- Conduct market research
Once you finalize your business idea your next step is to analyze your market. You will research and understand about it’s basics, it’s potential of growth, potential of profit, opportunities, competitors, target audience, risks, etc. and then note down important points which may help you in future.
- Business finance
Then you have to research and calculate how much money you need to start your business and run it smoothly and how will you get it. You will either start saving your money or take business loans, business grants, crowdfunding, contact some investors, sell of your property or anything! Just figure it out and finalize
- Business structure
Now this is the stage where you will figure out how will you structure your business with financial and legal protection? How will you add value with your services? In short this is a model how you are going to execute your idea with a proper planned and managed way.
- Find a problem
According to your specific niche find the problem faced by your target audience where they need you and then solve the problem so people could trust you. If your work is good enough to satisfy them your business is already successful.
For example doctor solves health issues, motivational speaker solves life issues, movies solve boredom, plumber solves leakage.
So you also have to solve the main problem but if you come up with a problem and solution that no one solves that’s something more interesting!!!
To find a problem you find other successful businesses of your niche search what problems they solve of their target audience and come up with better solutions and also get to know by Google ads, Facebook groups, online forums, etc.
- Name your business
You should try to name your business in a way that it should be short, easy, easy to pronounce, and attractive. You can do it by any business name generator or name it yourself.
- Register your business
Some business needs to be registered on first day while some can be registered when they start earning specific profit. For example if you open a pharmacy store; your pharmacy business should be registered otherwise it can cause problems do it as legal policies are..
- Create your product
Now this is the stage where you will give proper starting to your business and jump into the field and create your product or service by applying your idea.
- Promote your business
Then promote your business because promotion is also very important factor for the success of your business. You can promoted through Facebook, ads, Instagram, Pinterest LinkedIn, Quora, etc.
- Grow your business
The last step is to be determined, consistently work and expand your network and business until you reach at the top!