Anyone who wishes can start a new business. A business can be “promoted” and made profitable practically from scratch, if you plan all the steps correctly, analyze the market situation and find good employees.
Instructions
Step 1
Develop an interesting and realistic business idea. Think about what will be the product of your business, what product you will sell or what service you will provide.
Step 2
Analyze who will be your customers, how much money they spend on services (products, goods) similar to yours. Think about whether your potential customers today have unmet needs and whether you will be able to satisfy them. Analyze what you can compete against your competitors (better quality, lower prices, etc.).
Step 3
Consider how you will market your product or service. and also work out possible sales channels. Pre-agree on the lease or purchase, if necessary, of shops, offices, warehouses, etc. At the same time, start negotiations with potential customers and suppliers.
Step 4
Describe how the main process will be performed step by step. For example, from the moment you buy an item from a supplier to its sale. Solve transport issues, delivery issues. Distribute who will do what. Calculate the minimum required number of workers.
Step 5
Make a financial plan for your business. Here, calculate a few basic points: start-up capital (how much money will be needed to "promote"), fixed costs (costs that are even when the company is operating at a loss - rent, salaries, etc.), variable costs (costs for release of a unit of production, execution of one order), taxes. Determine how your firm will be pricing (markups and discounts).
Step 6
If you are unable to start a business with your own money, identify sources of funding. Think about how you will give money in case of success and failure.
Step 7
Plan your business launch. Link timelines, goals, and resources. After that, you can start the registration procedure as an individual entrepreneur or as a legal entity. Obtain the required permits and licenses.
