Starting A Small Business

There are many people with different business ideas but they either do not know how to start or do not have the right access to funding their business. If you fall into these categories, then this article is for you.

Although, starting and growing your business today is not so easy; it is very possible. With the right knowledge, facilities, and proper planning, you can convert your dreams into reality.

The big business companies we have today did not become multi-million companies overnight. They have implemented the steps towards growing their businesses to actualize the company’s goal. As days go by, different businesses are being birthed; thus, fueling business competitions. Now, how can you survive these?

Let us get you on the go.

  1. If you have a business idea already, WRITE THEM DOWN. Don’t waste it by letting it hang on your mind, you might forget. A short pen is said to be better than a long memory. Put your thoughts and ideas into writing. This is one of the easiest but most effective steps towards starting your business.
  2. Write the purpose of your business which includes your vision and mission.
  3. Write out your value (this is very important).
  4. Get a befitting business name, write it down also (you can have more than one idea and can pick the best later).
  5. Make sure your business is giving out VALUE. This is a healthy way to override your competitors. People won’t spend their money on things that do not have value. THINK about the value(s) your competitors are not giving out to their consumers, WRITE them down and note how you can implement it. Write out the values they give and make sure you give even better to your consumers. This is also part of your planning process.

Why is writing these things so important?

The simple act of writing down a goal and making a written plan for its accomplishment moves you to the top 3 percent.” — Brian Tracy.

Writing your ideas down shows how invested you are in your business, it shows a zealous person in you. Goals that are not written down are nothing but just wishes, and you wouldn’t want your business goals to end as a wish only. Would you? Of course not!

Now, let’s get more professional. It is time to write your BUSINESS PLAN.

If you cannot write a business plan by yourself, pay someone to do it for you or you go online to use a template similar to your business field. Fill in the necessary information about your business. Writing a business plan can attract investors to you. People love to invest in things that are lucrative; this is why your business plan has to be very detailed and REALISTIC.

Now that you have your business plan, what next? GET THE RIGHT MATERIALS needed to start. Let’s say you are a fashion designer, you definitely need a sewing machine to start or if you are a product designer, you need a laptop/computer to start. You’d probably need more than one material most times but get these materials according to their priority if you’re on a budget. For a Barber, getting a clipper should come first before getting a mirror (the mirror is also important but you cannot cut a client’s hair without a clipper? Can you?).

If you do not have the money to start your business and you’re certain your business ideas will earn you profit when you implement the right steps, GET A LOAN. Getting a loan to invest in your business is a good step to take when you don’t have anyone around to finance you. Don’t be scared, don’t waste those business ideas, make it a REALITY. Take that bold step to achieving your GOALS.

Utilize SOCIAL MEDIA for campaigns and publicity. The power of social media continues to grow daily and thousands of brands make their huge sales from social media. Know the right audience for your products or services (gender, age, location, interest, etc). Don’t sleep on it, your potential customers are waiting for you out there. Go online, cultivate the act of MAKING RESEARCH. It helps you to understand what you know better and opens your mind to things you don’t know. Improve on where you feel you’re lagging behind. Get people to assist you, don’t do it alone if it’s a huge task, build a team around you and grow your brand.

Learn to SAVE. Don’t spend anyhow, be accountable for every transaction, be truthful to yourself and your brand. Get a separate account for your business and avoid touching the money for irrelevant things.

With OxyThrift , you can save funds and watch it grow over time. You can achieve your business financial goals even with a very good interest rate.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *