HOW TO START A BUSINESS.

Many individuals want to be self-employed but starting the establishment is not as easy as it seems.

 Small and big establishment only strive only when they are passionate about the business and comprehend what it takes to manage one.When a new business strive it is quite gratifying.

If you are certain you want to own an establishment, here are step by step guild on how to own one.

1.whats your business idea?

There must be an area of business that you are passionate about or an idea that a family or friend sold to you.Are you venturing into an existing business or inventing a new one?most individuals are only concerned about the business concept with without thinking about the detailed requirement that is needed to own a business.

A good business idea alone does not guarantee success in business; an average business idea with good business fundamentals does. The world is filled with brilliant and million  ideas” but the world lack passionate entrepreneurs.

Business idea is not somthing that must be over think .There are millions of successfully business and failed business that have existed pick one and learn the basic principle of how it is been run.

2.write a business plan.

With proper implementation of an establishment, a business is bound to succeed. you must ask yourself what service are you rendering, how is it going to be beneficial to you and individual, what is the cost of implementation, how is the establishment going to be run a managed?

Your business plan should have a clear goal and objective with your detailed steps and guild. it with will enable you to comprehend whenever you are drifting off course .Your business plan is a projection of how you firm is going to be run and its sustainability .

3.cash available for business:

Before starting an establishment funds must the kept outside, in a situation where the funds available for business is too minimal alternative source must be looked for. There are some corporate bodies that provide loans for an establishment that want to run a business. 

If you would rather not take a loan from the bank it would be better you save or borrow from family and friends that won't ask for interest on the borrowed sum.

4.Do a feasibility study.

The reason why some business fails to succeed is because they fail to check the number of individual or establishment that are already into a similar company that they want to venture into.

Every business owner must be able to answer these questions, who are my potential customer, who are my competitor,what would make people be more interested on my product, how can I be better off than my competitor.

  

5.Secure a good location.

 Business location is a very important part of any establishment. Where is your business going to be established . Is it going to be a company that is service related?the best option would be to secure a location that would close to individuals that require the product.

 

6 license your business

Every business enterprise is entitled to choose between a sole proprietor or a public limited company. After making your choice you can  get your companies name registered. 

See steps on how to register with corporate affairsIf you have the enough money rather going to the office for registration you can as well hire the service of a legal personal to carry out all the legal and paperwork.