Tips on How to Start a New Business from Zero to Success
How do I start a new business by myself if I am still a beginner? Maybe this is one of the questions that often arise in our minds, including me when I want to start my own business.
For most people, starting a business is challenging and requires a strong mentality.
And lack of capital is often a factor that makes a person's intention to start a business to recede. In reality, capital is not the main factor but one's mentality is decisive.
Most beginners and have never run a business must be confused about how to start a business from zero to be successful.
Well, in this article I want to share tips on starting a business from scratch to operate properly, based on personal experience.
1. Establish Business Type
This point is very important because it relates to your interests and long-term business trends. Most people prefer businesses that are booming, because they are considered directly making money.
This can be done, but still must pay attention to your interests as a business actor.
Businesses that are run based on interests generally can last longer than businesses that are run because they follow along.
For example, if you like things about culinary, then the type of business that you are running is a food business.
The type of business that is run also affects the level of success, the more enthusiasts, the greater the opportunity to increase or develop the business.
2. Conduct a Survey
After determining the type of business, then you need to do a field survey. The purpose of this survey is to determine the level of competition, market share, and business potential that will be initiated.
The survey does not have to be detailed, but enough on the surface because you don't want to run out of time just for the survey. Then, what will be surveyed?
A. Consumer Purchasing Power Response Survey
Consider how consumer behavior for the type of business that will be initiated. Make sure that this type of business has many interested people who have good purchasing power.
Any business that certainly requires consumers who have purchasing power. The greater the market share of these types of businesses, the more promising their potential is
B. Competition Level Survey
Most likely the type of business you want to start already has a competing predecessor. Through a small survey that you do, you will find out how many similar businesses, how the quality of products, service quality, price competition, and other information.
By knowing this information, we can take steps and strategies in order to compete with the same business.
C. Business Location Survey
Many say that location is very influential on the success of a business. This is not without reason, because the choice of strategic location has a huge impact on the level of sales of a business.
3. Preparing Capital
One way to start a business that must be done is to prepare capital, both material capital and knowledge capital about business. However, in this case more to the capital money for the need to start a business.
How much capital is needed? Of course this depends on the business that will be initiated. The greater the business to be built, the greater the capital needed later.
This capital can be obtained in various ways. For example borrowing from banks, looking for investors, borrowing from family and relatives, or from your own savings.
As a reference, you can read articles that discuss how to get venture capital.
However, beginners are advised to use their own capital. The reason, all businesses have a risk of failure.
If the capital is borrowed from a bank, then you will probably be nervous about starting a new business because you have to pay for the loan.
4. Determine Business Location
Referring to point # 3 about the survey, determining the location of the business should be in a strategic place and quite crowded by people.
Another case when a business that is run is an online business that does not require prospective buyers to come to the location.
Businesses that require visitors to come and buy on-site should be in a strategic location. For example, if your business target market is students / students, then the best location is around the school or campus.
5. Prepare all the needs that will be needed
Starting a new business requires serious preparation, because without preparation a business can go without direction and fail.
This preparation includes product readiness, tool readiness, marketing, and others. In addition, the readiness of yourself must also be considered because you are the person who is an important actor in running the business.
6. It's Time to Open a Business
Ok, you have done all of the above points and are ready to launch your business. Now is the time to start opening your business to the general public.
When you first open a business, often sales do not meet expectations. This could be because your business is not well known or consumers do not trust your business.
This is common, no need to be discouraged immediately. There will be times when consumers begin to come and believe in your business.
The important thing is that you do not delay opening a business, and do not immediately despair when the business is quiet.
7. Do promotions regularly
Whatever type of business that is initiated surely requires good marketing to be successful and survive in the competition. Promotional methods must also be chosen in accordance with the type of business, which at first may need trial and error.
8. Monitor Market Development and Study it
Market changes always occur in all types of businesses. If you want to stay afloat in a business, it is obligatory to always monitor market developments.
Starting a business from scratch is not an easy matter, it takes sacrifice of money, energy and mind, and time that is not short.
Are you ready with the challenges that will be faced?
For most people, starting a business is challenging and requires a strong mentality.
And lack of capital is often a factor that makes a person's intention to start a business to recede. In reality, capital is not the main factor but one's mentality is decisive.
Most beginners and have never run a business must be confused about how to start a business from zero to be successful.
Well, in this article I want to share tips on starting a business from scratch to operate properly, based on personal experience.
1. Establish Business Type
This point is very important because it relates to your interests and long-term business trends. Most people prefer businesses that are booming, because they are considered directly making money.
This can be done, but still must pay attention to your interests as a business actor.
Businesses that are run based on interests generally can last longer than businesses that are run because they follow along.
For example, if you like things about culinary, then the type of business that you are running is a food business.
The type of business that is run also affects the level of success, the more enthusiasts, the greater the opportunity to increase or develop the business.
2. Conduct a Survey
After determining the type of business, then you need to do a field survey. The purpose of this survey is to determine the level of competition, market share, and business potential that will be initiated.
The survey does not have to be detailed, but enough on the surface because you don't want to run out of time just for the survey. Then, what will be surveyed?
A. Consumer Purchasing Power Response Survey
Consider how consumer behavior for the type of business that will be initiated. Make sure that this type of business has many interested people who have good purchasing power.
Any business that certainly requires consumers who have purchasing power. The greater the market share of these types of businesses, the more promising their potential is
B. Competition Level Survey
Most likely the type of business you want to start already has a competing predecessor. Through a small survey that you do, you will find out how many similar businesses, how the quality of products, service quality, price competition, and other information.
By knowing this information, we can take steps and strategies in order to compete with the same business.
C. Business Location Survey
Many say that location is very influential on the success of a business. This is not without reason, because the choice of strategic location has a huge impact on the level of sales of a business.
3. Preparing Capital
One way to start a business that must be done is to prepare capital, both material capital and knowledge capital about business. However, in this case more to the capital money for the need to start a business.
How much capital is needed? Of course this depends on the business that will be initiated. The greater the business to be built, the greater the capital needed later.
This capital can be obtained in various ways. For example borrowing from banks, looking for investors, borrowing from family and relatives, or from your own savings.
As a reference, you can read articles that discuss how to get venture capital.
However, beginners are advised to use their own capital. The reason, all businesses have a risk of failure.
If the capital is borrowed from a bank, then you will probably be nervous about starting a new business because you have to pay for the loan.
4. Determine Business Location
Referring to point # 3 about the survey, determining the location of the business should be in a strategic place and quite crowded by people.
Another case when a business that is run is an online business that does not require prospective buyers to come to the location.
Businesses that require visitors to come and buy on-site should be in a strategic location. For example, if your business target market is students / students, then the best location is around the school or campus.
5. Prepare all the needs that will be needed
Starting a new business requires serious preparation, because without preparation a business can go without direction and fail.
This preparation includes product readiness, tool readiness, marketing, and others. In addition, the readiness of yourself must also be considered because you are the person who is an important actor in running the business.
6. It's Time to Open a Business
Ok, you have done all of the above points and are ready to launch your business. Now is the time to start opening your business to the general public.
When you first open a business, often sales do not meet expectations. This could be because your business is not well known or consumers do not trust your business.
This is common, no need to be discouraged immediately. There will be times when consumers begin to come and believe in your business.
The important thing is that you do not delay opening a business, and do not immediately despair when the business is quiet.
7. Do promotions regularly
Whatever type of business that is initiated surely requires good marketing to be successful and survive in the competition. Promotional methods must also be chosen in accordance with the type of business, which at first may need trial and error.
8. Monitor Market Development and Study it
Market changes always occur in all types of businesses. If you want to stay afloat in a business, it is obligatory to always monitor market developments.
Starting a business from scratch is not an easy matter, it takes sacrifice of money, energy and mind, and time that is not short.
Are you ready with the challenges that will be faced?
Nice info
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