Basic things you need to start a business? Here is the list of things we will be discussing in this article.
We see loads of successful business and sometimes we think that we should starr our own business with lavish office and amazing staff. We just sit behind the table and start earning money.
That is not the right approach to any business. All businesses start small, for example a seed of a fruit. We put that seed in mud not some kind of lavish thing and wait for the fruit.
Keeping this in mind, we have to start little.
Basic things you need to start a business are as below;
(Note: Highlighted in red are not priority in start but they are important to know)
Best idea of any business is that your idea must fulfill or solve any one’s problem. It is not to compete pepsi/coke, it is how to reach the people who can not afford pepsi/coke.
For any business you have to invest before earning profits. Again lets take example of a seed, seed is an investment.
So your investment must always be small like a seed.One day that seed will grow and give you fruits.
Understand your market:
This is not recommended as there are world’s leading businesses which were initiated without any plans.
Business plan is very essential for getting small loans from the bank or investors.
Legal everything is good, registering a business is made easier these days. Once your business is registered it will create better trust in customers that you are authentic not running fake or spam business.
If you are up for online business, do not go for it until you start earning profits.
For online you just need;
- Bit knowledge of wordpress. (Youtube is full of these free tutorials)
Do not hire employees:
You do not need employees in the initial stage, just ask some friend who could help you in his/her free time. Hiring employees is waste of money.
If you really need someone, go for freelancer in the first stage.
You will need an excel sheet or a page of paper. You have to record everything from paper pin to helicopter you buy for your business.
- Good name
- Attractive logo
- Online presence (Social Media FREE)
Marketing these days is easy and challenging along with it.
Easy because you can do it for free on online forums.
Challenging because there is this giant businessman who can invest way more on marketing.
No. You do not need to rent office space in the beginning as this is not wise, you just need an space which could be home, your lawn, garage or some cafe in the town who could let you sit for more hours).