Posted on August 11, 2019 at 03:00 PM
Steps of Your Business Journey.
A concept that can be used for financial gain by providing products and services is know as Business Idea. If we think about our brain it creates bundle of thoughts in whole day, out of them few will be unique pattern of thinking and distinguish from other thoughts, If we observe those pattern can be an unique idea for Business.
Steps required to Start a Small Business :
Identify your small business idea→Test your idea as a side business or hobby→Create a business plan→Choose registration LLC or sole proprietorship→Determine if your business works well from home or need office setup→Get to work.
1. Identify your small business idea : As we are discussing about so many Small Business Idea, just find out yours favourite based on your potential not liking because it's important to have the experience, training, skills to be successful. so if you like but no potential will not workout, Choosing Wisely is more important.
2. Start as a side business and do Market Test : It's time to testing of our Business Idea, try it into market and see response of the clients. If results are favourable then you can proceed for the next step.
3. Create your business plan : Once you know your idea has the potential to succeed then start building a Business Plan for your Idea. It's time to developing our dream thoughts into reality.
4. Decide whether you'll be an LLC or sole proprietorship : Once your Business plan is ready to execute then you can think over registration process. To run a business we need registration as per law so choose as per your requirement, you can schedule a meeting with CA and finalize it.
5. Determine work well from home or need a Office space : Ask yourself whether your business idea will work well from home or you need a office. Sometime it depends on our budget also, Initially we have to think about business expenses and budget later on we can expend it on availability of resources.
6. Final Step start working : Successfully you have reached at final step now just think over the business operations and growth of your business, you need to apply quality management system.
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