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Here are some tips or recommendations that we should take before creating or starting a business of our own:
Investigate the market
Once we have defined our business idea, that is, once we know what business we are going to put, we must carry out a small market research that allows us to have a first idea of the feasibility of our idea.
For example, we can visit similar businesses that we want to create, small surveys where we ask the respondents if they would buy our product or use our service, or make quick interviews with people who are or have been in the same type of business that we want to create , Where we ask your opinion about our project.
Find a differentiation
Today, due to the high numbers of competitors, it is necessary that when starting a new business, it has a differentiation, that is, something that allows it to differentiate itself and distinguish itself from the competitors.
This differentiation must be something unique and novel that others do not offer and can not easily imitate, and should be the reason why consumers prefer us before them.
For example, our differentiation could be in offering an additional benefit in the product, in providing an excellent customer service, in providing an extra service, in providing a personalized treatment, etc.
Invest with equity
When starting a new business it is advisable that all investment is made up of equity, and later when the business starts to grow, just start to apply for loans (to help us continue to grow, but faster).
It is not advisable to start a business, especially when we do not have much experience, to get into debt so quickly.
If we do not have enough equity, one option is to borrow money from family or friends, but always making sure that the amount borrowed is not excessive and that once we get the money, we will not feel so pressured to have to repay it so fast.
Do not invest all our money
When creating a new business, however much measures are taken there will always be the risk that things will not happen as planned.
So it is advisable that when creating a new business, we never invested the total of our money or our savings. We should always keep a considerable part of our total money in case things do not turn out as we had anticipated.
Do not hesitate to ask for help
When starting a new business, we should not assume that we know everything. There will always be some issue that we do not master or a problem that we can not solve without the help or advice of someone else.
We should not feel shame or pity when asking for help, because nobody knows everything and one will always need the help of others to get ahead.
Whenever necessary, we must take advantage of our friends or acquaintances who know more or have more experience than us in any subject, and ask their help or advice, and even hire the services of a professional advisor to help us in the creation of our business goose canada, Or any problems that may arise.
Make a business plan
Before starting a business, it is fundamental that we make our business plan, this will allow us to know the viability of the business, ie to know if the business will be profitable and, therefore, we must continue with the project; Or if it will not be profitable and, therefore, we must look for new business ideas.
In the business plan we will indicate in writing our objectives, strategies, resources, processes, investments, expenses and income; So the business plan will serve as a guide to implement and manage our business and thereby achieve greater efficiency and minimize risks.
Doing business is not only looking for the highest income or possible sales, but also, looking for the lowest costs or expenses.
When investing in a new business, we must ensure that our investment is the smallest possible, but that does not mean that we have to reduce the quality of our equipment or inputs.
For example, if our business involves the acquisition of certain machinery or equipment canada goose, we should not rush and buy the first machinery or equipment we find, but we must take our time, thoroughly research the market and compare products and prices.
Book a small budget
When creating a new business, it is common for the investment or actual expenses to end up being higher than the budgeted, ie, that in the end, a greater investment is needed than initially budgeted.
So it is advisable, when making our budgets or investment projections, that we always reserve a small emergency capital, which we can use in case we need a bigger investment, and thus solve these inconveniences or unforeseen.
Care for societies
If we plan to partner with someone to start a business, it is advisable to look for partners who have the same aspirations as us, who are as motivated as us to start a new business.
We must look for partners who can contribute things that we can not contribute, for example, that can provide commercial contacts, experience or knowledge on a certain topic.
Also, before forming the company, we must make clear (preferably in writing) all the agreements and all measures that will be taken in case the company or the business does not obtain the expected results, for example, we must agree in advance how the Profits, what will be the functions of each one, how much each will contribute, what actions will be taken in case bigger investment is needed, what measures will be taken in case one of the partners decides to retire, etc.
If our business involves the acquisition of a place where our customers meet, we must choose the location well, for this, we must consider who our products or services are directed to, the proximity or access that our customers and suppliers have, the location Of our competitors, the costs of rent or purchase of the premises.
If we look for a place in a central or crowded place, we will be closer to the consumers, but we will have greater competition, and the cost of the premises will be greater. On the other hand, if we choose a place in a less central place, the cost of the place will be lower, but we will be further away from the consumers, although if our product is of quality, and we make an adequate publicity, consumers will look for us wherever we are.
Another point to consider when deciding for a particular place, is that before taking it, we must be sure that we will be granted the license of operation, we must go to the authority in charge of it, and consult them if they would give us The license for the type of business that we want to create, and do not assume that other similar businesses in the area, we will also give. Likewise, we must make sure that we will not have problems with the neighbors, for example, that they could complain in case of much noise.