Business from scratch. 10 steps of a beginner businessman.

Many people dream of their business. At the same time, the reasons why people decide to open their own business are different for everyone. For some, this is an opportunity to realize oneself, for others it is a way to earn money and be independent, for the third – this is the withdrawal from unemployment. Desire, this is just the beginning. And what to do next? With what to begin, to whom to go? LSBC prepared for you 10 steps of a beginner businessman.

1. Answer your question – are you ready?

The business, especially at the very beginning, is fraught with many problems, huge time investments and expenses, and only then it brings income, freedom, independence and everything else.

Ideas of business from scratch. Prospective American start-ups |

You will have to work hard at least 10 hours a day and without days off, because the business at the initial stage is extremely unstable and prone to bankruptcy.

2. Determine what you want to do!

If you have already firmly decided that you want to work only for yourself, then you need to decide what exactly you will be doing. A correct and competent idea is already half the success. However, when choosing an idea of business, it is necessary to remember the following: if the idea is pleasant to you, your friends and friends, unfortunately, it is not a fact that she likes others.

3. Make a plan for building and developing your business!

A good and competent plan will help you increase your chances of success. Starting a business without a plan is the same as going to foreign lands without a roadmap. This document describes all the main aspects of the future of your firm, predicts and analyzes possible problems that it may encounter, and also determines how to solve these problems.

Read also: 7 rules on how to build a team in a beginner startup

4. Count it!

At this stage, you will need to answer the following basic questions:

– How much should you invest in your business?

– Is your own money sufficient or do you need borrowed capital?

– Will your business be profitable, profitable?

– Is this profit enough for you to support yourself and your family?

Also, you will need to calculate the costs of opening your business – it’s worth thinking about before, and not after you opened. After all, if you for some reason have to close, then the funds spent for its opening to you, most likely will not return.

5. Decide on the sources of financing!

I will not write much here, but I will simply say that not only bank loans are related to financing sources. This can be leasing, private investment, and various grants and government subsidies.

6. Identify the form of the enterprise!

At this stage, you need, first, to understand whether you can manage your own business, or you need partners.

Secondly, you need to decide whether you will limit your responsibility or not.

7. Gather information on how to properly register a business!

Practically everything exists either by law or by rule. At this stage, you will need to find out in which organizations you need to register your company, whether you need to pay fees, etc. Such information you can get from both tax and business consultants.

8. Find reliable business partners!

At this stage, we are not talking about partners with whom you could start a joint business. We already spoke about this in the seventh paragraph. Here we are talking about those individuals or firms that help you develop your own business. These are, for example, tax consultants, lawyers, accountants and business consultants (who, besides helping with the writing of business plans, also lead firms on very many issues after the opening).

Partners can also include your suppliers, advertising agencies, recruiting firms, etc.

9. Plan your first advertising strategy!

As you remember, they meet in clothes. The way you enter the market will in many ways predetermine your future success. Do not forget to think not only about business cards but also about where you will advertise, in what form, in what volume and for what amount.

10. … and open up! But remember that this is only the beginning. The further success of your business depends only on you!

Of course, this is not a complete list of what needs to be done before the opening. Nevertheless, I tried to list the most important steps.

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