Wednesday, 29 July 2015

Guides on starting your own business


Image courtesy of Salvatore Vuono at FreeDigitalPhotos.net


Anyone can start a business, however, it has to be something you are passionate about. Today, I am going to be giving you tips on starting a new business. My e-book 'How to become a successful entrepreneur' which will be released on the 3rd of October, 2015 will give you a deeper knowledge on running a successful business. It will be priced at $5.99, so start saving up(smiles) However, this article will still impact good knowledge on starting up a business, hopefully you will want more. The e-book will talk about marketing, organisational behaviour, accounting and finance, business ethics, information systems, leadership skills, business strategy and others, so be prepared.

The first step you need to take when you want to start a business is to develop an idea, it has to be related to something you are passionate about and it has to be realistic. The next step will be to develop the skills required like if you want to provide make-up services then get the required skills, if you want to provide IT services get the education needed (it could be a professional course). I know that it is quite expensive to attend universities in developed nations, however, professional courses are not so expensive. It could be a short course, that will be influenced by the level you are willing to take your business too. Be rest assured any skill can be developed, it all as to do with your determination and your effort. The next step will be to identify your target market, is it a particular age group? is it for men?, afterwards understand that market and then work on developing a product that will give them what they want. 

You will then have to come up with a business name, your business must portray the right image and must be competitive. You will then have to develop a business plan, that will include your goals, sales target, how you intend to penetrate the market, strategies to be used, financial estimates (halal) and others. This business plan will help you measure your progress generally. Then,  develop a strategic plan that will help you stay competitive in the market. Business and statregic plans will be dealt with at a deeper level in my e-book. 

The next thing you would do is to work on your supply chain, make enquiries  about reliable suppliers who sell the best materials or equipment at a very good price and start to develop a relationship with them. Then raise capital for your business following the guides in my previous articles and register your business. If I give $1000 today, you won't know what to do with it because you got it unexpectedly and you might end up spending it lavishly, but if you have plan and then I give $1000, then it will be spent wisely since you already have a plan for it. So you need to draw up your business and strategic plan first before raising capital. Advertise your products (goods and services) and then start selling.

Halal means anything lawful Islamically.

No comments:

Post a Comment