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Tuesday 4 June 2013

TIPS ON HOW TO START YOUR OWN BUSINESS


In starting a business, you have to make some key financial decisions and also completing some series of activities. However, some businesses do not survive the test of time because of various lapses committed during the buildup of the business. Here are some tips that can help you plan, prepare and manage your business.

1.     Do what you love (what you have passion for). To build your business into a successful enterprise, you have to devote a lot of your time and effort; therefore you need to enjoy what you do. Don’t start a business because you’ve run out of options. Take control of your working life though it may be a daunting task.

2.     Write a business plan or proposal. Having a business plan helps you avoid sinking your time and precious money into starting a business that will not succeed. If you do not know how to write one, find a business developer who can help you through it. You need a support system while starting a business and later. It’s better to find a mentor or apply for business training. Experience guidance is the best support system for starting a business. A one-page business plan is just okay to cover what you offer, your target, your charges and your mission. Keep it simple at the start.

3.  Be professional from day one. Everything about you and your way of doing business need to tell everybody that you are a professional and also running a serious business. You have to get all necessary things like a business cards, business phone, business email address and treating people in a professional and respectful manner.

4.      Make sure you settle all legal and tax issues right from the first day. It is advisable to register your business with the appropriate bodies and also pay your charges and dues. Learn what your responsibilities are legally before you start your business.

5.     Go out and get customers (Marketing). Nothing matters if you don’t have customers. The majority of your time and effort must focus on sales and marketing. You must have a smart marketing plan to attract people who show interest in your products and services and then try to convert them to your number one priority. You can also consult a marketing firm. For more about this contact us

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