30 Tips That You Should Take Before Starting a Business
April 19, 2013 § Leave a comment
Take out a new business is not easy. No wonder a high percentage of new businesses close or go bankrupt shortly after startup. But your business is not within the negative statistics and has a good chance to succeed, we present below a list comprised of 30 tips that you should take before starting a business:
Choose a business that deals with what you love: just so you can have enough motivation to take it forward and perseverance enough to overcome all the difficulties that arise along the way.
Begins offering few products: it lets you specialize and allows higher efficiency. later as your business grows, just increases the variety of products offered.
Offers something different: it offers something unique and innovative that allows you to differentiate and distinguish yourself from the competition and is the reason why consumers will choose you before them.
Defines a unique style: defines a style or concept for your business based on your personality and your personal tastes. This will allow consumers to recognize your business and identify with them.
Define your pubic objective: clearly define what the public which will run your products or services. This will allow you to focus on your business and your strategies in this audience, and achieve greater efficiency.
Knows your target: investigates and analyzes the needs, tastes, preferences, habits, shopping behaviors and other characteristics of your target. This will allow you to design strategies that better results may have on it.
Analyze your competition: investigates and analyzes the strategies, competitive advantages, strengths, weaknesses and other characteristics of your competitors. This will allow you to develop strategies that best allow you to compete with them.
Test your product or service: before starting your business test your product or service for example, your home inviting some friends and acquaintances to try it out, or putting a small stall.
Reduces your investment: ensures that your investment is as low as possible, for example, buying only what is necessary, good looking and comparing prices, making agreements with suppliers and renting instead of buying.
Cats spare not: try to make your investment as low as possible but without it means you have to sacrifice the quality of your equipment and supplies or to the point of giving the image of a poor and austere business.
Miscalculates your investment and your future income and expenses: do not be carried away by the excitement of starting a new business and be as objective as possible when making your projections.
Keep an emergency budget: in the calculation of your investment budgeted additional capital to cover potential liquidity problems. Chances are you’re done using it.
Make a business plan: it lets you plan objectives; resources and strategies will serve as a guide for implementation and allow you to know the viability and profitability of your business.
Invest your own capital: debt avoids make so quickly. If you have no choice but to borrow money from family or friends go first.
Do not invest all your money: do not invest all your savings in a business all life. Always keep a significant portion of your money in case things do not go as you expected.
Choose a good partner: in case you decide to partner with someone, looking for a partner that has skills, expertise and resources to yours and have the same aspirations as you.
Ensures a good society: before forming a society agrees in writing to such matters as the functions that perform each partner and what measures will be taken in case one decides to retire.
Choose a good location: the location is a determining factor in the success of a business. Be sure to choose a good location, especially considering the style of your business and your target audience.
Choose a good name: the name is also a determining factor in the success of a business. Be sure to choose a name strikingly that fits with the style of your business and to transmit a positive message.
Appropriate staff hires: hire people who are really qualified for the position you will occupy that complement well with the other members of your business and you are honest, integrity and loyalty.
Enables your staff to provide good customer service: in addition to training your staff for the proper performance of their duties, providing good customer service even when you do not have a time to direct deal with it.
Ask for help when you need it: whether it comes from a friend or acquaintance with experience or a professional to which you have to pay for their services, do not hesitate to ask for help when you need it. Do not pretend to know everything.
acts : before starting your business, collect information, plan things well and prepared well, but rather than take too long about it, try to act as soon as possible.
Trust your intuition: you can never be completely sure whether your business will succeed or not but if your intuition tells you to act then feel free to do so.
Do not be afraid to make mistakes: just keep in mind that you’re going to make and that is when you commit to learn.
Fear not fail: please note that the failure is when you grow not only as a businessman but also as a person.
Be flexible: in the process of creating your business when things are not turning as you expected, be flexible and take new paths if necessary. Sometimes an idea is the gateway to another.
Creates expectations: once you have the opening date of your business then creates expectation. For example: announces your business though advertising media and invite your friends and acquaintances to attend it
be patient : keep in mind the success does not come at any moment but it is something that takes forever to arrive, and will most likely get you long after you’ve calculated what.
Be persistent: keep in mind that in the process of starting and running a business out even that you plan and you reduce the risk, always find problems or difficulties they have to overcome.