7 Quick tips to start a new business

Thinking of start a new business ?Let’s go and have a quick look what you need to do when you want to start a new business.

In 2018 you might have seen that so many people are coming up with new ideas and starting their own business leading their life towards entrepreneurship believing more in creating employment rather seeking a job people have become more smarter more goal oriented more focused about their life and innovative at the same time to live a better life ahead.

Smartphones,computers,technologies have totally changed the mindset and the work culture of youngsters.Now a days everyone believes in perfection though In case you are looking to start a new business here are 7 quick tips to start a new business

 

1.Understand your business plan : Before starting your business you need to understand each and every aspect of your business and need to ask yourself few questions like. How your business is going to serve the customer? How many people are really in need or going to buy your product/Service? What are the key factors of you business ? What are the requirements to start a business? What should be the initial budget to start ?How long you can sustain your business even if it is not profitable initially? How much time it will take to settle everything ?

If you ask these questions to yourself you will find most of the answers of most of the problems of running a business and it will give you more confidence to run a business as you are already prepared yourself for these situations.

2.Do not expect an overnight growth: Many of us start a business with positive attitude and with a thinking that everything will change overnight and your business will take a vertical leap in a short period of time remember “Success is not a overnight process”.Many successful people those who are running successful businesses across the world have seen all ups and downs of life some of them even slept on streets but they believed in their ideas believed in themselves and work with NEVER GIVE UP ! attitude so if you will train your mind to understand this factor that everything takes their little sweet time to settle things and hurdles will bother you less while running your business.

3.Start Small with your money : You have never done business in your life you don’t have any idea about business and the facts ,but you want to run a business No problem.Its not necessary to have a good amount of money to start any business for new startups I will personally suggest to start small start your journey from a small room or a small office start with people those who are enough to perform and complete the task do not dream of big office employees in the very beginning of your journey do not invest on money which is not yours.Your business requires your efforts more than anything so keep pulling your socks up for what you started the business.Always start with your money do not take loans or credit in the very beginning of your business.

4.Work with right people :   Employees are very important pillars of any organisation when you will start new there will be situations when you need to hire people for your business remember always hire right people for your business.Nobody hires a wrong person but eventually you need to see how people are looking and taking interest in completing the task,Intially if you will trap yourself with the people those who need to be managed all the time they gonna kill your productive time and it will result in decreasing the productivity of your business so for a new business it is very important to hire people those who are active,quick learners and responsible for their job.No matter what but you need to scale up the productivity of people to increase the productivity of business.

5.Get your accounts In place : The biggest mistakes done by most of the startups that they really don’t understand the importance of accounting,book keeping and other important aspects of business the most important thing for new entrepreneurs is to get the company registration done and start the money making but in rality there are so many compliance which are equally important for running a successful business.If you want to go for a long run you need to understand the importance of accounting and registrations like GST registrations,Filing GST registrations,Shop & Establishment and other important tax related issues.

In case you are running a Pvt Ltd Company or Limited Liability Partnership company you need to understand the tax liabilities according to the GST  .

6.Keep Your Business secure : A business starts with an idea a unique concept or way of serving society with niche of gaining financial freedom.Though you keep everything right for your business if your business is at growing stage you need to understand the importance of securing your business people those who are in music industry film industry or other artistic work industry can secure their work with the help of copyright their work.

A business easily becomes a brand if it is reached among the people those who are need of the product of service for that you need to do social media marketing,website promotions and other marketing strategies you need to protect your brand by copying or other unauthorized use of your brand for protecting your brand you can trademark your brand by your name so that the name cannot be copied.

7.Keep Business Updated: This point makes a great sense for the people those who want to run their business and expand it through the globe if you a running a business you need to keep an eye on your niche customers their needs changes and introductions of your business what your competitors are doing what strategies they are following to make the business grow and how they are expanding their market. For a sustainable business it is very important to have a market reach so keep doing research and development about your industry and keep your business updated.

In 21st century businesses have a very wide market due to the reach of customers so running a business is comparatively as you can reach more and more people through social media marketing.

 

So Leaders if you want to start a new business and start a new journey keep this seven quick tips in mind and if you have any doubt that what to start with you can go through my previous blog 10 best startup ideas of 2018 and become a self employed businessman or a businesswoman.

 



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