Starting the Venture

Starting the Venture

7 Key Steps to starting a Business:

  1. . Take time to brainstorm:

Who is the target market for the product? What could go wrong and how will you solve it? Are there additional products or services that could tie into your main offering?

2. Create a business plan:

The main parts of a business plan include the executive summary, a company description (what makes the company unique), a market analysis (the competition and target demographics), the company’s structure, a description of the service or product line, the marketing and sales strategy, financial projections — plus any additional useful information.

3. Gather required resources:

No matter what the size of your business is, you’ll need a few essentials to start operating.

Create a list of everything you’ll need and its approximate cost; whether it’s an office space with a new desktop and printer or a warehouse to hold the products.

 

4. Launch Marketing & Brand –awareness campaigns :

Before you launch the business off the ground, start planning the ideas for marketing, sales, and branding efforts.

Create a Facebook page, Twitter profile, Google+, and LinkedIn page for your business, depending on the appropriate social media channel for your company.

5. Get the finances in shape:

 Not setting up proper accounting, bookkeeping and tax records up front can be dangerous and costly to a business in the long run.

 While doing your own business taxes can be relatively easy when running a solo business,laws and regulations vary by state.

6. Create a maintenance list:

 When you finally have your business up and running, keep track of regular tasks that keep a business running, namely doing payroll, keeping up with inventory, updating the website and regularly blogging and using social media.

 This ensures you will continue the regular housekeeping tasks of the business so it runs smoothly.

7. Set future goals :

 Whether your business is a day or a year old, continuously set goals in order to move your business forward.

 Examine the competition, employees, investors and peers to help you decide what new goals need to be set and what needs to happen so as to be successful.

 

 

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