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When I want to start a business and have what should I do

Business like a snacks center

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4 answers

This is a good question.

To start a business, you need to consider some things and not just act out based on "good feelings". Below is a list of things you should or can do before starting a business. 1. Know the kind of business you want to venture into at first. Have a clear mindset on business choice, be it coaching, sales of products, or you want to venture into the digital space. Ensure you are clear on what space you want to operate.

Next...

  1. That business idea you have, will it solve a need? You shouldn't go about running a business without this test so you don't regret your actions in the long run. You need to test if your idea will sell. It's important you ask around, make enquiry to know if that business idea will solve a need people can exchange value for.

  2. Funding: where will your capital come from - Loans, Overdraft or Personal savings? Determine that before setting out. In my own opinion, it's not safe enough to start a business with loans or overdraft. Why? You don't have an estimated figure of business profit to analyse with yet.

  3. Have a Business Plan. In the last step, I talked about "funding" , right? It's not like you can't get a loan to run a successful business though, so if you must, have a good business plan that will keep your business running and in turn guide you to make huge returns on investment.

I earnestly hope these few points of mine, which are relevant and vital for startup growth and development, will come in handy as you take that bold step.

Always here to cheer you on.

Report Joke's answer

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Hey,this is a very nice question.begore venturing into a business you need to do the following. 1 . Visibility study: This will help you research if such commodity or service is needed and would be sellable. 2. Financial strength: This will help you make appropriate budget and quotations for the business 3. Packaging style to be adopted.

Report JOHN's answer

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Hey,this is a very nice question.begore venturing into a business you need to do the following. 1 . Visibility study: This will help you research if such commodity or service is needed and would be sellable. 2. Financial strength: This will help you make appropriate budget and quotations for the business 3. Packaging style to be adopted.

is a good question.

To start a business, you need to consider some things and not just act out based on "good feelings". Below is a list of things you should or can do before starting a business. 1. Know the kind of business you want to venture into at first. Have a clear mindset on business choice, be it coaching, sales of products, or you want to venture into the digital space. Ensure you are clear on what space you want to operate.

Next...

That business idea you have, will it solve a need? You shouldn't go about running a business without this test so you don't regret your actions in the long run. You need to test if your idea will sell. It's important you ask around, make enquiry to know if that business idea will solve a need people can exchange value for.

where will your capital come from - Loans, Overdraft or Personal savings? Determine that before setting out. In my own opinion, it's not safe enough to start a business with loans or overdraft. Why? You don't have an estimated figure of business profit to analyse with yet.

Have a Business Plan. In the last step, I talked about "funding" , right? It's not like you can't get a loan to run a successful business though, so if you must, have a good business plan that will keep your business running and in turn guide you to make huge returns on investment.

I earnestly hope these few points of mine, which are relevant and vital for startup growth and development, will come in handy as you take that bold step.

Always here to cheer you on.

Report JOHN's answer

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Starting a business is an exciting venture! Here are some essential steps to consider when getting started:

Idea Validation: Ensure your business idea solves a problem or meets a need in the market. Research your target audience, competitors, and the demand for your product or service.

Business Plan: Create a detailed business plan outlining your goals, target market, marketing strategy, operational plan, and financial projections. It serves as a roadmap for your business.

Legal Structure: Decide on the legal structure for your business (sole proprietorship, partnership, LLC, etc.). Consult with a lawyer or accountant to understand the implications and choose the best fit.

Register Your Business: Register your business name and obtain the necessary licenses and permits required in your area.

Finances: Determine your startup costs, establish a budget, and explore funding options (personal savings, loans, investors, crowdfunding, etc.).

Set Up Financial Systems: Open a business bank account and set up an accounting system to manage finances, track expenses, and revenue.

Brand Development: Develop your brand identity, including your logo, website, marketing materials, and social media presence.

Build Your Team: If needed, start building your team. Whether it's hiring employees or seeking freelancers/contractors, ensure you have the right people to support your business.

Market Your Business: Create a marketing strategy to reach your target audience. Utilize online and offline channels like social media, SEO, content marketing, networking events, etc.

Launch and Iterate: Launch your business, collect feedback, and be ready to adapt and make necessary changes based on customer responses and market trends.

Remember, starting a business is a journey that involves risks and challenges. Stay adaptable, learn from mistakes, and be open to evolving your strategies as you grow. Seeking advice from mentors or joining entrepreneurial communities can also provide valuable insights and support along the way.

Report James Walter's answer

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