Staring Your New Business

Steps you should consider before starting a business

Ifat Buttar

Enhance your idea

In the words it is important to start always with a why, consulting and coaching, is an essential part. In this process, it is wise to distinguish whether the enterprise serves the individual or the market. When why you should focus on meeting market needs, your business scope will always be greater than that designed to meet individual need.                             

Contemplate franchising

Another option is to open a franchise for an established company the concept is, brand attention and business model are in place; all you need is a good location and means to fund your operations.

Regardless of which option you choose, it is important to understand the reasons behind your ideas not to write business plans or brainstorm ideas before determining the value of creativity.

Business Name
Do Your Research

For a small business to succeed, it must solve problems, satisfy needs, or provide what the market wants.

You can determine this need in a variety of ways, including research, focus groups, and even trial and error. When exploring the market, some of the questions you should answer include:

  • Do you need the products/services you expect?
  • Who wants it?
  • Are there other companies offering similar products/services?
  • How will your business acclimate to the market?

Make a plan

You need a plan to make your business vision a reality a business plan is a blueprint that will guide your business from the start-up phase to establishment to final business growth and is a prerequisite for all new businesses.

The good news is that there are different types of business plans for different types of businesses.

If you do not anticipate seeking financial support, a simple one-page business plan can help you clarify what you want to achieve and how you plan to do it. In fact, you can even create a working business plan behind the napkin and improve it over time. Written plan is always better than nothing.

Plan Your Finances

Starting a small business does not require a lot of money, but it includes the ability to cover some initial investment and ongoing costs before you make a profit. Put together a spreadsheet that estimates the one-time start-up costs of your business (licenses and permits, equipment, statutory costs, insurance, branding, market research, inventory, trademark registration, grand opening events, real estate leasing, etc.). What you expect you will need to keep your business running for at least 12 months (rent, utilities, marketing and advertising, production, supply, travel expenses, employee salaries, your own salaries, etc.).

Choose a Business Structure

Your small business can be a sole proprietorship, a partnership, a limited liability company (LLC), or a company. The entity you choose affects many factors, from trade names to liability and tax filing methods.

You can choose your first business structure and reassess and change it as your business grows and your needs change.

Select and Register Your Business Name

Your trade name plays a role in almost every aspect of your business, so you want it to be good. When considering your options and choosing a trade name, consider all possible implications. Once you have chosen a business name, you need to make sure it is trademarked or currently in use then you need to register it. The sole proprietor must register his/ her trade name with the state or county secretary. A company, LLC, or limited partnership usually registers its trade name when the formation documents are submitted.



Tips to Get Your Business Going

Catch On these tips to starting a business but do not know where to start.

Ifat Buttar

If you want to start a business but do not know where to start, do not worry you are not alone. In fact, considering the new economic reality of today’s era, more and more people realize that the “job” they are waiting for does not exist. Others concluded that they wanted to create their favorite works to suit their goals in life. No matter what your motivation for becoming a boss is, you can start today.

Here are a few tips to help you get started:

Take a stand for yourself.

If you are not satisfied with the present situation, please acknowledge that no one can solve these problems except you. Blaming the economy, boss, spouse, or family does no good. Change can only happen when you make a conscious decision.

Determine what suits your business.

Grant yourself permission to explore. Willing to look at different aspects of yourself (your personality, social style, age) and listen to your instincts. Even though we often know the truth deep in our hearts, we still tend to ignore intuition. Ask yourself: “Even if I feel tired, what gives me energy?” Grant yourself permission to explore. Willing to look at different aspects of yourself (your personality, social style, age) and listen to your instincts. Even though we often know the truth deep in our hearts, we still tend to ignore intuition. Ask yourself: “Even if I feel tired, what gives me energy?”

How do you know what business is “right” for you? There are three common ways to start a business:

Did you know: You have been fired or want to change clothes? Look at the work you have done for others in the past and think about how to package these skills and provide them as your own service or product.

Do what others do: learn about other companies that interest you. Once you have determined your favorite business, you can simulate it.

Solve a common problem: Is there a gap in the market? Is there a service or product you want to market? (Note: this is the highest risk of these three methods.) If you choose to do this, make sure you become a student and gain knowledge before spending money.

A business plan can increase your chances of success.

Most people have no plans, but it will help you enter the market faster. The business plan will help you gain clarity, focus, and confidence. A plan need not exceed one page. When you write down goals, strategies, and action steps, your business becomes a reality.

Ask yourself the following questions:

  • What am I structure?
  • Who will I work for?
  • What is my pledge to customers/customers and myself?
  • What are my goals, strategies, and action plans (steps) to accomplish my goals?

By taking these steps, you can easily become your own boss. It is important to remember that you are not alone. If you want to be your boss but are confused, interact with other entrepreneurs in different ways. You will be amazed at the precious connections that are within reach.

Social Media

“Social Media Tools for Work & Self-Promotion”

Social media tools are now essential for self-promotion purposes and the need to publicize one’s brand.

The following are 5 social media tools that can yield effective results:

1- LinkedIn – LinkedIn is a social-networking tool used by business professionals.

Through using LinkedIn, profiles that display education and previous work experience, along with recommendations and any other useful information to showcase to potential employers or business partners can be designed and created to full effect.

2. Facebook – Facebook is a tool that enables the sharing of content and the ability to meet and communicate with people who may have an interest in your every-day updates and blog.

Facebook is membership-based, and registration is free.

Through Facebook, it is possible to develop profiles and making connections with people such as friends and family through locating them in the Facebook directory. Once connected, communication with another member, uploading pictures, sharing blog feeds, sharing Twitter feeds, joining Facebook groups of interest, or starting their own group(s) can be done.

3. Twitter – Twitter is a social networking website housing millions of active users. It is the site where users can increase their business opportunities by turning their social contacts. Users can communicate with one another with consummate ease and advertise their products and services in a smooth and swift manner. Twitter offers several other features that make it even more suitable for people to work with their links. Through Twitter, it is possible to follow others to view their messages or “tweets”. This also applies to the follower if they are being followed by others.

4. YouTube – YouTube is an effective, low-cost tool for using social media. Through creating videos that promote one’s brand, share value can be created if the video reaches a significant target audience. The drawback however is that due to the vast number of videos uploaded on YouTube daily, it may be easily accessible to others. Therefore, making the video worthwhile to view is a must.

5. Tumblr – Tumblr is another effective tool for self-promotion. Despite not being a primary tool of social media, it offers unique opportunities to reach potential employers with its design and content capabilities. Unlike many other social media tools, Tumblr allows the posting of a wide variety of content types, ranging from text and photos to video, audio, and links. It also offers a variety of design “themes,” which enables the creation of a page that best supports one’s brand’s image and the types of content planned to be posted.

Social media tools help with social networking in a way that it provides the ability to communicate and interact with professionals and/or employers. Professionals can use social networking in many ways, such as by uploading audio and video files, picture sharing, messaging, and blogging. In addition, businesses also use social media to locate markets, discover new talents, raise funds, and be aware of the competition around them.

Business is always on the lookout for potential hires, and social media is an effective way through which they can assess and evaluate individuals prior to hiring them by getting through their resumes for instance, which is possible on LinkedIn.