We all have dreamed of owning a business; to be the boss once in our life. The growth of products, services, demand of different products and supplies are always increasing, only the changes were noticed on products and technologies. For example, food supply needs were different 100 years ago; however today, business is still going strong. As a result, entrepreneurs are still making money in the food supply business. Most of us think that there is no way to get into the food supply business; there is a lot of competition, there is need of large financial support, assets are required. Well! I agree with all your thoughts and I would add that these are challenging factors, but not big as we think they are. Believe me! It’s possible and you can make it come true. You can be a great businessperson.
Here, we’ll take a look at the necessary steps to successful businessperson. Having said that, don’t expect your dream to come true next month or next year. I am just opening the window for you that you believe is closed. I will promise you that by the end of this article you won’t feel as if your dream is impossible! You are the main player of your game; I can show you how to move foward. I am also sailor just like you; we can help one another on this trip to building a business. The Golden steps to think of before you start a business. Note: Please create a business plan, because most businesses fail without one! Have a spreadsheet and ask yourself the following questions:
■ Do you have a working knowledge of that business? Do you have experience? If yes, then you can go on to the next steps and if no, then learn how that business works because books can be a source of learning and advice on what and what not to do..
■Analyze yourself. I think your journey is beginning now. Did your friend or the company report attract you to start a business? If your answer is yes, then think twice because this is not something you are passionate about–you are just interested in the business because you saw big profits. I recommend not to choose that business because you can only overcome today’s competition if you are really passionate about it.
■Remember it is always a great idea to follow the same business that proved successful since in the U.S. we don’t like to take chances. However, financial freedom does not always allow us to get the franchise business we’d like. This is why we need to develop some ideas that can help us to succeed.
■ Research and look to see if your business may find success, how many competitors you may have and most importantly what you have that is unique to offer (not necessarily different if you believe the business can succeed in the traditional way) compared to others. In United States, people don’t take a chance on something new unless you can sell your concept before the products are on the market. Please research and find a unique aspect to your product before investing in a business. ■It is best to avoid investing large amount of money in a possible business venture. Find out from resources if you can sell your products or services on a very minimal level. For instance, if you are trying to sell your product you might first contact vendors for information about what is required to run the business and to raise your level of expertise about this business and possible products. Once you can see how much money is needed and learn how to establish capital from profit, you can establish your own business from scratch.
■The described steps are essential part of researching a business and/or product. Now I will share some traditional steps that you can go through, so you don’t miss any necessary information. Please do share your success and ideas to help others establish a business and feel free to also share your questions Your success can be great achievement for me:).
A to Z steps for starting new business
1. Make sure you have the knowledge and experience, along with performing enough research before you go any further.
2. Make plans, goals, seek financial advice. In addition, see if there are any programs that can help to start your business.
3. Select the name of your business and structure (according to your budget and future plan.
4. Register your business at a state website or in person. Small business doesn’t cost you much; the fees vary by state.
5. Complete all tax information by getting a tax ID and plan for income tax and property tax.
6. Obtain the required license according to what business you’ve chosen. It depends on the type of product. Most of licenses will need to be renewed yearly or every six months, so keep that in mind. Some chemical related or other manufacturing businesses needa license from the state and the Environment Protection Agency, so contact your lawyer before you reach this stage.
7. Check import-export rules (if this applies), patents, copyrights, trade marks and other laws that can affect your business in the long-term.
8. Check an employer’s guide before you hire if you need any employees.
9. Make sure you have a daily report of your income/expenses to analyze your finances before starting a business.
10. Plan for utilities, renewals, and short-term profit goals. Keep engaged, love what you do… and you’ll be on your way to success …
If you think I missed anything, please let me know. My goal is to give you some real ideas and help you toward your dream of starting a successful business.
Business opportunities are like buses, there’s always another one coming. – Richard Branson
Success is often achieved by those who don’t know that failure is inevitable. – Coco Chanel
You’ve got to say, I think that if I keep working at this and want it badly enough I can have it. It’s called perseverance. – Lee Iacocca
I don’t pay good wages because I have a lot of money; I have a lot of money because I pay good wages. – Robert Bosch
Let’s be honest. There’s not a business anywhere that is without problems. Business is complicated and imperfect. Every business everywhere is staffed with imperfect human beings and exists by providing a product or service to other imperfect human beings. –Bob Parsons
“What would you attempt to do if you knew you would not fail?” –Robert Schuller
“Successful and unsuccessful people do not vary greatly in their abilities. They vary in their desires to reach their potential.” –John Maxwell
“Success consists of going from failure to failure without loss of enthusiasm.” –Winston Churchill
You must be very patient, very persistent. The world isn’t going to shower gold coins on you just because you have a good idea. You’re going to have to work like crazy to bring that idea to the attention of people. They’re not going to buy it unless they know about it.” – Herb Kelleher
“I’m convinced that the only way to get ahead in this world is to live and sell dangerously. You’ve got to live beyond your means. You’ve got to commit yourself to an act or vision that pulls you further than you want to go and forces you to use your hidden strengths.” – John Johnson
“It was a risk. I had a husband and I was pregnant with my oldest son. But I don’t look at risk the way other people do. When you’re an entrepreneur, you have to go in feeling like you’re going to be successful.” – Lilian Vernon