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Starting a small business what are the basics to getting started?

  1. AEvans profile image78
    AEvansposted 8 years ago

    Starting a small business what are the basics to getting started?

  2. jay.staniforth profile image56
    jay.staniforthposted 8 years ago

    In short;

    Get your initial idea/plan/product/service

    research competition and alter/change design accordingly

    Define the market/target population you want to approach/focus on

    Market your idea and brand yourself with Logo/name

    Create a website so that you have web promotion and can reach wider audience

    blog your site/service/products and also advertise for sale online through gumtree/ebay/preloved etc

    Approach people within your market who are already established but have a diffeent product to help advertise you EG/ your business is selling hair gel/products.. go to a local or a number of hairdressers and say they can sell your products/or advertise them and in return you wil send out a flyer of thier business with every product sold and on your site etc.

    Offer something free like an ebook on your product or some sample so that people have to apply with thier address name and email.. this way you can build up a contact database of people to email with offers, new products and general news.

    Really it is all about marketing yourself and getting your name and product associated with that name, and that name associated with quality.

    Hope this helps

  3. Wayne Brown profile image85
    Wayne Brownposted 7 years ago

    Warren Buffet says that he "buys what he understands". I think that is a good first step in going into business. Do what you understand best.  Once that is established the other items can follow:

    1. Do you have any working capital? You will need for deposits, rent, and operating funds to cover the business while it is getting on its feet.  It could require enough money to cover the business for up to one year.

    2. Do you have a business plan? It is a good idea to write one.  There are examples that you can find on the interenet for format.  This will be especially important if you plan to borrow money.  The plan should outline what you expect  to sell, how much, where you anticipate your growth potential to come from, and what you project expenses to be as a minimum.

    3. Do you have a location in mind?  Is it already equipped or will you have to make provisions to acquire the equipment. Will the location require some modifications for your business. If so, how will you cover that expense?

    4. Have you weighed the pros and cons of a franchise in the potential for your business success.

    5. Finally, do you realize that most businesses fail in their first year because they are undercapitalized from the start and the owner is too dependent of the cash flow from the business.

    If you cannot deal with the above issues.  Stay out of the kitchen!

  4. b2b-sales-europe profile image60
    b2b-sales-europeposted 6 years ago

    Getting clients!
    Nothing is as important as finding people willing to pay for a product or service. Unless you don't make money with it, its a hobby or an idea. You will find people keeping your books, taking your calls etc., but identifying propects and make them to clients, that's business.