The Lazy Man's Guide To HOW TO START A BUSINESS: Businessideas4u

The Lazy Man's Guide To HOW TO START A BUSINESS: Businessideas4u



Here are  steps needed to start a successful business. Gradually, you are on the road to successful small business operations.






 Research

You've probably already identified a business idea, so it's time to align it to a small reality. Does your idea have the potential to succeed? You must validate your business idea before proceeding.

For a small business to succeed, it must solve a problem, satisfy a need or offer something to the market.

You can identify this need in several ways, for example: Research, discussion groups and even trial and error. When you explore the market, you need to answer some of the following questions:

Do you need your expected products / services?
Who needs it
How is the competition?
How will your company fit into the market?
Do not forget to ask yourself a few questions about starting a business before making the jump.

Make a plan

You need a plan to realize your business idea. A business plan is a plan that guides your business from the beginning to the creation and growth of your business. It is essential to any new venture.

If you want financial help from an investor or a financial institution, you must have a traditional business plan. This type of business plan is usually long and comprehensive and includes a series of general sections that investors and banks look for to validate their idea.

If you do not expect to find financial support, you can use a simple one-page business plan to find out what you want to do and how you plan to do it. You can even create a business plan that works on the back of a towel and improve it over time. A written plan is always better than nothing.







 Plan your finances

It does not take much to start a small business, but it requires an initial investment and the ability to cover current expenses before making a profit. Create a spreadsheet that calculates the initial costs of your business (licenses and permits, equipment, legal fees, insurance, brand, market research, inventories, trademarks, opening events, real estate rentals, etc.). You expect your business to have at least 12 months (rent, utilities, marketing and advertising, production, consumables, travel expenses, employee salaries, own wages, etc.).

These numbers are the initial investments you need.

Now that you have an approximate figure in mind, there are many ways to finance your small business, including:

funds
Small business loans
Grants for small businesses.
Investor angel
crowdfunding
You can also try restarting your business by using less capital to start your business. A combination of the routes listed above may work better. However, the goal here is to work with the options and create a plan to configure the capital you need to run your business.



 Select a corporate structure

 The company you choose affects many factors, from the name of your company to your responsibility to how you report your taxes.

You can choose an initial business structure, then reassess and modify its structure as your business grows and its needs change.


Depending on the complexity of your business, it may be wise to invest in the advice of a lawyer or accountant to make sure you choose the right structure for your business.

Select the name of your company and save it

The name of your company plays a role in almost every aspect of your business. So you want it to be good. Be sure to analyze all the possible implications as you explore your options and select the name of your business.

After selecting a name for your business, you must check if it is a registered trademark or if it is currently used. Then you have to save it. The sole operator should register the name of his company with his secretary of state or district. Corporations, limited liability companies or limited liability companies generally register the name of their company when the constituting documents are filed.

Do not forget to register your domain name after selecting the name of your company. Try these options if you use your ideal domain name.







 Obtain Licenses and Permits

Paperwork is part of the process when you start your own business.

Different licenses and approvals for small businesses can be applied to your situation, depending on the type of business you are creating and your location. During the startup process, you need to check which licenses and approvals apply to your business.

 Choose your accounting system

Small businesses work more efficiently when systems exist.
Your accounting system is needed to create and manage your budget, set your rates and prices, do business with others, and collect taxes. You can set up your own accounting system or use a tax advisor to eliminate certain assumptions. If you decide to start with your account, make sure you take into account these issues, which are fundamental to the choice of accounting software.

 Set up your business location

The configuration of your office is important for the management of your business, whether you have a home office, a collective or private office or a point of sale.

You need to think about your location, your equipment, and the entire installation, and make sure your business location is appropriate for the type of business you are going to operate. You must also determine whether it makes more sense to buy or rent your commercial space.

Prepare your team

When hiring employees, it's time to start the process. Make sure you take the time to identify the vacancies and the responsibilities that come with them. The Small Business Administration provides an excellent guide for hiring your first employee, which is helpful for new small business owners.

If you are not hiring employees but contracting out to independent contractors, now is the time to work with a lawyer to finalize your independent contractor contract and start your search.

If you are a true solo entrepreneur and you walk alone in the streets of small businesses, you may not need employees or contractors, but you still need your own support team . This team can be a mentor, a coach for small businesses or even your family, and serves as a focus for guidance, motivation and safety when the road becomes rough.


Promote your small business

Once your business is operational, you should start acquiring customers. You have to start with the basics by writing a single point of sale (USP) and creating a marketing plan. Then explore as many marketing ideas as possible for small businesses to help you decide the most effective way to promote your business.

Once you have completed these startup activities, you will have all the basics. Remember that success does not happen overnight. However, use the plan you have created to continue working in your business and increase your chances of success.
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1 comments:

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Unknown
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19 August 2019 at 08:45 ×

Best guidence and good ideas thanks for help starting the new small business man

Congrats bro Unknown you got PERTAMAX...! hehehehe...
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