A quick guide for starting a business in 6 Steps

A quick guide for starting a business in 6 Steps

Do you know?10 out of 9 peeps want to start their own business, they don’t just want but it’s

Their burning desire. In any situation they want to start doing business at least once. Do you know a truth? 90% of them failed in starting their business

You are thinking why 90% of people ends up with their failed business? Let me know you some real facts. It is all because 50% percent of them failed because they even don’t try to start their Business in fact they have great ideas & capabilities but they ends up with nothing. The rest of them failed because they start their business without learning it. So below you will learn on how to start your own business.

Guide to Starting a Business:-

There are no limits who can become a successful entrepreneur. You don’t need college degree, big investment or even business experience to start something that could become next major Success. However, you need a strong plan ant the drive to see it through.

If you are Entrepreneur, You might know how to start building your successful Business. Below are the Steps:-

1. Evaluate yourself.

Let’s start with most basic: Why you want to start a Business? When you will find out the cause, use this to find what kind of business you want to start. If you want extra money you should start with Side Hustle. If you want more freedom, maybe it’s time to leave your frustrating 9-to-5 job and start something new.

Once you have reason, start asking yourself more questions to figure out the types of business you should start, and if you have what will it take to make your dream comes true. Figure out below:-

·         Skills

·         Your Passion

·         Area of expertise

·         Capital which you can spend (Don’t spend whole savings on it)

·         Are you ready to be an Entrepreneur

Be very honest with your answers. This will create a Foundation for everything you have to set up as your business.

2. Think of a business Idea.

Do you already have an idea that will bring value to your customer? If so, Congratulation! You can proceed to the next section. If not, there are thousands of way to start brainstorming for a great idea.

Think something Innovative that provide real value to your customers. Think problem of markets, what role you can play to resolve any of it. Because successful business depends upon the value you provide to your customer. The more value you provide to the people or the more people use your product, you will grow faster. Use the better, faster & cheaper approach.

3. Do Market Research.

Is anyone already doing the same that you want to start doing? If not, it’s very good. If there is someone already in
Market. Start researching your rivals and partners within the market. Search for your Target market & make a
feasibility to start your business without wasting time & resources. Avoid mistakes which people commonly do.

1-Using only secondary research

2-Using only online resources

3-Surveying only the people you know.

3. Make it official.

Get all aspect in early stages. That way you don’t have to worry about someone stealing your idea, screwing you
over in a partnership or blackmail you in any way. A quick check list of below things you should immediately get
hands on:-

1-Buisness structure (LLC, Pvt, Ltd, Public or partnership) 2-Register business name officially

3-Register your business.

4-Federal Tax Id.

5-State Tax Id.
6-Permit

7-Licences

8-Necessary bank account

9-Trademark, copyright or patents.