3 Steps
Thinking about starting a business? Well, starting any kind of business can be one of the most rewarding, exhilarating, and interesting opportunities you’ll ever get. If you’re aware of the risks and you’re still dead-set on being an entrepreneur, then continue to read on:
Find your product or service
Keep in mind, starting a business doesn't always mean to develop something brand-new. It can also be something that is already in the market than you can offer at
a) lower price-point,
b) better quality,
or ideally, both (a) and (b), which will result in a successful business as you’ll have plenty of customers.
“ Noticing the gap in the market and providing a solution for it is nothing short of a smart entrepreneur. “ Jegan Vengada
Find a Co-founder
Now, that you know you want to start a business you should also be aware it's no secret that the path ahead will be a difficult one. So find a co founder who can make it a little easier,
a) they can provide emotional support. Owning a business is stressful, exciting, and unique experience. If you’re riding the emotional roller coaster by yourself, you won’t have anyone to celebrate with during the ups -- or survive the downs. A co-founder understands exactly what you’re going through and makes you feel less alone.
b) they can provide different skills, knowledge, and connections. Maybe you’re great at selling, while your co-founder is more technical/operational. Picking a co-founder with a complementary resume is an excellent way to boost your odds of success.
“ As long as the chemistry works and you share a common vision, having someone else invested in the business from the beginning can provide you with enormous support as well as with fresh perspectives. “ Jegan Vengada
Find a suitable workable plan
I cannot reiterate how important it is to make a business plan. This is the most important step, this is how you and others will evaluate your business.
a)When seeking financing the investors or lenders will want to read your plan before they supply you with funding.
b) The business plan will help you figure out where your company is going, how it will overcome any potential difficulties and what you need to sustain it.
So do not take it lightly and get to it.
“ If you can't document evidence that there’s a demand for your idea, then what would be the point? “ Jegan Vengada
Senior Vice President Commercial Relationship Manager at Fulton Bank
6 年researching and asking for advice on a business plan in important for? success !! ?