Own a Business No Business is small and disrespectful. Business is only way for earning. Somebody do a business for his livelihood and other to become rich. It is a lifestyle where in most cases earning is directly proportional to risks taken and good decisions we made. In general concept, jobs are only secure earning source but in practical we receive only a part of our earning which we are securing for the employer. Generally we works for large businesses for a salary and doing day-night efforts to meet our so called targets. Why should not we start Own busines? We provide here a basic list of steps to be taken to start a business. Make a Business Plan A business plan start with a workable idea. After brainstorm for an idea we should start working for a business plan. This is a basic roadmap for actions to be taken. Do not overthink about profits at this step. Critically analyse the idea and put your idea on a paper. Market research Most businesses works on problem and solution model like Colgate solved the dirty teeth problem, Xerox solved the manual copy of a content. Try to find out the problem you’re going to solve. Do market research about who all are the customers who are suffering from that problem and how many players are solving that problem and what you are doing different from others. Funding Most of the business needs a funding . We can not put all our savings to the business. Bank loans are offered to good workable business plans. At this stage you may or may not need any detailed business plan but you have to make the detailed business plan for banks to get loan. Brand building Brand building is necessary for any business to run in long way. Basic brand building steps are as follow 1. Define a Unique name to your business 2. Get a website and social networking page 3. Define your mission, vision and values 4. Define standard Operating procedures Complete legal formalities 1. Register your company 2. Get licences and permissions for any requirements Set up an office Your office may be shop or a large building depending upon on your business. But it should be fixed where your customer will interact with you. If your are hiring some personnel, Make a proper agreement and define work responsibility. Marketing and launch Do a grand lauching for your business. It will attract large no of customers for initial jump start for business. Later a complete marketing plan may be prepared and worked upon.
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