The Important Steps to set-up a Business

2 Important Steps to set-up a Business

2 Important Steps to set-up a Business

When you think of setting up the business activity, it will not be enough for you to have an office, employers and lots of good will. First and foremost, you need to have clients! And we will begin with that.

1-Client First:

Before you begin building your own company and suffer all its consequences and reap profits, you have to take care of your money inflow. So that money was, there must be clients and it is the first thing you should think about before you set up your own company. Ask yourself a question:

Where will I acquire clients from?

At the very beginning describe your client – on the sheet of paper. You have to know everything about him. Whom you want to sell your product, what this person does in his/her free time, where he/she derives knowledge for his/her work, how old he/she is, what family status he/she has got, etc.

CAUTION! Creating an ideal client is called building a personality. This stage is evolving all the time! It is not enough for you to do it once. Your personality will be changing over time. Sometimes a few personalities – ideal clients are used in business.

All this will let you come to the next stage. Research into clients’ needs.   Start with browsing the Internet, visit forums, groups in social media and see what your clients need. Take a few orders at reduced costs in order to get the grasp of the idea and so that information about you and your services/products are widespread in the circle, where your clients move around.

If you think of setting up a business absolutely seriously, take on the following premise: one step closer to business daily. Of course, it is not about your quitting up the full-time job first! One step every day can mean, for example:

Learning a new language or new skill every day

  • Making one phone call or paying a personal visit to the company, which can potentially be interested in your services
  • Finding one potential method for financing your business activity
  • Writing a part of a business plan
  • Creating a prototype of a machine, which will be useful in carrying out tasks in your company.

Depending on what is your business target you can truly undertake many tiny steps toward your future. Thus, you build a company, yet before you quit your job in the corporation. When you are ready already – simply register it and start operating!

2-Less = more efficient:

you will have to take lots of decisions in your company on the spur of the moment. You won’t have enough time for considering different variants “what would be if”, the decision will need to be taken here and now. In order to facilitate this process, both you and your company must be deft.

Especially at the beginning of your company operations, do not incur substantial costs so that your business is not cumbersome. In order to achieve it, introduce several simple rules to your company:

  1. Do not employ an employer if you do not need him/her. And if you happen to have him/her, let him carry out a maximal quantity of obligations instead of drinking coffee.
  2. Do not sign up long-term liabilities with external companies.
  3. Search for cheaper alternatives e.g.: for the marketing, client acquisition, etc.
  4. Do not invest in expensive equipment if you don’t need it.
  5. Do not waste your profits by buying food. Instead of 100% profits earmarked for consumption, allot for it a pre-set sum of money (monthly), and invest the remainder in your business or save for “leaner years”.

Abiding by these rules, you will be able to quickly make decisions as you won’t have many liabilities, both cost-related and employee-related.

 

Read more: https://www.entrepreneur.com/article/297899

Add Comment