How to Start a Business –
Starting a business is something that comes up with a whole load of responsibilities. It is not at all a bed of roses to start a new business. There is n number of things that need to fetch your attention towards in order to make your business a huge success. There is a protocol that needs to be followed in order to succeed.
How to Start A Business – A Step By Step Guide
Step 1 – Do Your Research
Doing your homework before starting any business project becomes utmost important because you simply cannot jump off a high cliff without a parachute. Researching all the aspects of the business environment is very important to identify the if’s and but’s of our business will not only help the business to sustain and grow in the long run.
Step 2 – Make A Plan
You need to have a plan or a roadmap ready in order to execute the business plan. It is a mandatory thing for all the new businesses to have. In case if you are planning to raise funds from the investors in the markets, a business plan is a must-have to build the trust of your business in the eyes of investors. A written roadmap ora business plan always has a positive effect when it comes to execution.
Step 3 – Plan Your Finances
Starting a new business is in itself is a very complex procedure. Hence, thus the company has to take extra care in managing the company’s finance. Unnecessarily employing financial resources should be avoided. Also taking in the count all the legal, operational, working capital requirements in mind to ensure smooth working of the business operations.
Step 4 – Choose a Business Structure
Selecting a business structure is very important especially when the business is in its initial and developing stage. Deciding upon a sole proprietorship structure or limited liability company is the most tedious and complicated process. It should be dependent on the complexity of the business.
Step 5 – Pick a Name for Your Business
The name of the business plays a very important role in deciding the success of the business in the long run. Make sure that you pick a name that decodes the purpose of your business organization. There are several things that need your attention when you are finalizing a name for your business. Once you’ve decided a name, you need to get it checked for either copyrights or legally in use.
Step 6 – Get Licenses and Permits
Getting the paperwork done as soon as possible is the legit way to stay away from any legal or unauthorized mishaps.
Step 7 – Choose Your Accounting System
The small and new business will grow rapidly if every single thing is in place. Having an organized accounting system is important in order to properly manage the budget of the entire newly setup business organization. Also, it will help you identify the inflows and outflows of your business organization.
Step 8 – Setup Your Business Location
It is important to select the best location for your business to set up. Ensuring a location that is situated closely connected to every location of the town. Also if you are having a manufacturing plant, you need to consider several factors like transportation costs and the cost of warehouses, etc.
Step 9 – Get Your Team Ready
Once everything is finalized it is very important to employ the right person for the right job with the right skillset. Having a team is all about having individual members who are team players and understands individual responsibilities towards the company in order to achieve pre-determined business goals along with their own benefit.
Step 10 – Promote Your Small Business
After the entire business is set up, the final and super most important thing comes into the picture of promoting your business. It is one’s own decision to choose the marketing strategy one is willing to take up. It could be either an outbound or inbound marketing strategy.
Several Small Business Ideas –
With the constantly growing cut-throat competitive world, it is necessary to find different and simple ways to earn money. Nowadays, when entrepreneurship is strongly penetrating the Domestic Land, it becomes a legit duty to contribute in favour of the same. Constantly evolving and growing small businesses are the major reasons why the Indian economy is growing at a rapid pace.
Nowadays doing business has become very easy because it’s the government who has eased the entire procedure. When it comes to starting a new business, the need for funding arises. As a beginner, it is highly advisable not to invest whole loads of capital and to start something with zero or a small amount of capital investment.
A list of Small Business Ideas That Will Earn You A Good Amount of Money –
Freelance Developer – Providing technical assistance to other small businesses in a way like developing and designing their websites and providing technical assistance that will help their businesses to grow because of you’re excellent technical command. It is considered as the blood cell of the list of small business ideas. Developing a website is a tedious task and if you are taking freelancing projects it is very important to communicate the requirements from the client’s end in order to deliver the exact thing.
Freelance Graphic Designer – Creative graphics and infographics say a lot about your business. Graphics have a lot to play with creativity and innovation in order to decode the message that the company has to offer. For bagging offers of designing graphics, several freelancing websites can be referred like Freelancers, Fiverr, People Per Hour, etc. The field of graphic designing is very complex yet creative. The more creative the designs will be, the more appealing it would appear to the audience. It is considered as the best amongst all the Small Business Ideas.
Resume Writer – Believe it or not, there is a need for a professional Resume Writer, and a Cover-Letter Writer when it comes to applying for a job. The Entire Process could be very complex and time taking. You can start by involving with the clients with tailored resumes, nicely edited cover letters and carefully crafted portfolios that could be mutually beneficial. This is the most evolving niche and a “No – Investment” idea to start a small business.
Freelance Writer – If you are blessed with some writing skills, you can easily become a freelance writer, Content Writer, Article Writer, etc. Or even you can start your own blog on (BlogSpot) and start earning from Google Adsense. This small business idea might take a long time to get established because initially, you’ll require to have your writing samples ready in order to attract new clients.
Photography – Standing out of the crowd and following your passion as your profession is something that will be counted as a smart act. It is a type of business that will grow from word of mouth. It is advisable to promote your photography skills through facebook and Instagram. This could be one of the small business ideas that can be started with comparatively less amount of investment.
Hairstyling or Make-Up Artist – Getting a personalized Makeup artist and pro hairstylist at the comfort of your house is turning out to be trending. The industry of taking personalized first-hand experiences is growingly rapidly. And hence seeking professional training into the same could be one way of starting a small business.
Home Tutor – giving education is the best Small Business idea to start something of your own. Providing personalized home tutorials nowadays is the best way to polish your existing school of knowledge and to spread your pool of audience.
Tiffin Services – The best idea to start a small business is to start tiffin services in order to provide hygienic homely cooked meals to the students, employees, etc. It is the most trending small business ides that ensures easy and fast growth.
Vacation Host – These days sharing personal residence instead of taking up a hotel is so much in trend. Airbnb started and gave wings to this concept of residential stays. This not only helps you recover the cost of your home but also helps you have glimpses of varied cultures.
How to start a small business at home –
- Identify your Small Business Idea
- Run a pilot survey of your business idea first.
- Create a business plan.
- Check whether your business will work well from home or not
- If not then plan proper office space.
- Get Your Seat Belts Fastened.