7 steps to start a business
Here 7 Steps to start a business if you are an entrepreneur and would like to make a list of all important and basic steps to follow when starting a business.
If you have already a business, then you might want to check and re-fresh ideas to implement in your business.
1- Market Research
Do you know what is really going on in the market? and what is happening in your niche? What do you need in order to have advantage over competitors? This First Step will help you figure it out where your business will be positioned when a previous research is done. It gives you an entire outlook of the type of business. Research is key, before starting a business; make sure you do your homework well!
2- Investment
What is the real cost of your business? From investment to payments, advertisements, permits, employees, etc. Write down your numbers!
3- Business Plan
Make a plan by answering key questions. Answers will lead you to plan strategies, therefore objectives and results. (don’t forget to analyse those results once you have implemented it). Our advice to our clients is always to make a list of questions they have; by answering those questions, they will be able to breakdown every answer by providing solutions based on objective.
Example: Where should I find my customers? What channel is the best option for my business? What do I need to do in order to people try my product? How many employees should I hire for this? Should I hire experts in the field for certain activities?
4- Added Value
That something that makes your customer think, they would buy from you and not from others. Is it Price? Quality? Customer service? Think about that added value that you can give to your customers that no one else is giving.
5- Update your knowledge
Knowledge is power. Keep updated yourself, join business courses, master classes, read books, explore information related to your business into the field of Marketing, PR, customer Service, etc. This is something that you shouldn’t stop doing it , if you want your business to succeed. Education is basic :).
6- Keep Updated with technology
Make some steps forward and use technology. This is most of the time convenient for businesses not only because all the available options but because get your customer’s life easier. Explore websites, join forums or groups where you receive information about the latest technology that can be of help to your business. Talk to people and receive feeback from each other.
7- Use the help of experts
Get close to the experts! Marketing experts are continously striving and improving methods by testing and analysing every business niche. Having a guide is not only helpful but will generate better incomes; from improving inbound marketing channels (SEO, Social Media Marketing, paid advertising, etc) to understanding your business challenges if you are willing to follow diverse strategies from experts perspectives.
What do you need to start implementing? ?
Dania Roza
Dania Roza is a marketer and communicator specialist on digital marketing at Kactus Media. She has developed marketing strategies for enterprises , brands and startups in the UAE.