Having an idea to start a business or have an entrepreneurial spirit, it is an advantage that you should take advantage of. This is possible as long as specifically set our ideas and directions on solid foundations that allow you to strengthen each of its steps from obtaining idea to always.
Based on the above, below is a step by step guide that will allow you to start your business in the best way and the whole procedure until the inauguration, however here not finish the steps, because we understand that this is an eternal learning.
Identify the business idea
If you have the idea or if you already count on her and know which sector want to address, you need to examine the following points that will help you strengthen your idea and stabilize it according to the parameters:
Initially, you should find a need that is not answered yet. This can have a service or product.
- Now, examine an item that companies are not offering, this will provide originality and innovation to give the feeling of need for consumers
- Then identifies a service or product that companies and companies in the sector are already offering and evaluates what things you could add, that is, what does, what its disadvantages and others are. This will provide a differentiating factor advantage.
- You can go to different organizations and places that handle offer ideas for entrepreneurs, including through the internet where you can get a lot of ideas that will reaffirm your desires.
- Examination of the idea: It is necessary that before moving forward, let us examine in detail our idea and thus begin to assess whether it is feasible or not. One option you could take to accomplish this is to visit places where services or products in the same industry where you plan to establish your business, ie where market similar products are offered. In this way, you can examine whether the demand is answered by the offer, how many similar businesses are in the territory, competitiveness, and differences.
- You could talk to people around you, like family and friends to tell them about your idea and see if reaction, give you their opinion and an estimate of what they think about it in general.
The choice of business name
This point is certainly essential, because even if we have already chosen the service or product we will offer it will be necessary from now name the business. It is important that you consider several aspects before choosing the name:
- You must look at the names of the competition.
- Choose the names that appeal to your attention and evaluates how up
- If you lack ideas for your business name, there are directories and websites that can give you some
- Consider your desires and personal preferences to apply to the name
- Be sure to generate an image of a positive nature
- Assesses that the name is simple and easy to pronounce
- Analyzes what is your business to implement this in the name
Business Location title
Now that you have the name of your business, you must go to the location and the area covering your business. Keep in mind that you must set up the business in a strategic area, for this must investigate in newspapers or on the internet about the areas you would like to settle, then you look out that no similar to yours markets around and well, see if there are local or offices that can occupy. In addition to this, keep the following points in mind:
- In addition to the similar areas near where you must run away, you must look at the influx of the public, this based on the characteristics of your product, it is necessary to analyze the potential consumers who answer your product or your business.
- You must make sure the area you can settle, has a favorable visuality and according to the business, whether it may or may not have a nearby parking lot.
Business plans development
You must understand that the business plan is a vital factor for your business. I develop will allow you to analyze the viability of the business, competition, staff and generally be a very useful guide and you should base your business altogether. Do not write or Plantées very extensive plan business, look at the fulfillment of your goals as a business, that will be enough to put enough information on it based on your wishes and plans of the same step. Some aspects that are drawn into the business plan must take into account are:
- Business Definition: Here on marketing strategies that later should apply when the business will strengthen advertising are scheduled.
- Operations: Here apply the requirements of a physical nature which need to ensure the smooth running of the business.
- Funding: The business plan is a comprehensive, complete and thorough guide to business, so that will allow you to calculate the total amount you need to finance the projection on business productivity and expenses with which undoubtedly have to tell.
In search of financing
Two situations may occur; you already have a capital of savings to cover the investment or part of it, or do not count on enough money, in this case, for this, you must undertake a journey in search of the best possible financing. To choose the best option, then we present possible options so that, according to your needs, personal preferences and views, you choose the best option that suits you:
- Friends and family: This is a good choice if we consider that are extremely reliable people who could help in this regard. Besides the confidence to apply for funding, you may not charge any interest on the loan as if they could do other funding sources. An additional point is that it will be much quieter for you, then do not pose heavy pressure, so you can return the money as fast as you can.
- Banks: Certainly this is one of the sources they access most frequently entrepreneurs, but sometimes it becomes one of the most complex options to enter the business world. It could complicate the situation if you do not have a favorable credit history. Be clear that you need capital.
- Other financial institutions: This option has a pro and against the pro; It is that they are perhaps one of the most flexible and affordable options for people, because their requirements are not based on a long list and allow the entry of those who request it, while the counter; It is that it is the source with the highest interest rate and commissions.
- Investors: This option is some people who could finance your business either partially or completely. However, suppose the disadvantage that you regularly pay a portion of the profits of your company.
location and legal aspects
- For the establishment, it is necessary to establish a series of legal issues, such as:
- The legal constitution
- Obtaining the license that allows you to start work
- The registration of the mark
- Buying or renting to establish local
Local assembly and decoration
It’s time to start all plans materialize. The decor includes placing posters, advertising posters, installing ornaments and objects according to the theme of business. In this aspect also comes the purchase and installation of all machinery, equipment, and furniture with total material for local adaptation.
The choice of suppliers
The search and the choice of suppliers is an essential factor because you must choose the best to start your business. You look out for companies that provide supplies, services, and products that will be key to the functioning of the business. Consider the following points to this:
- The quality of inputs
- The costs of these
- Services and products
- The facilities regarding payment
- The general experience of suppliers
- The reputation enjoyed by and others
To start the overall performance of the business, it will be necessary to consider other fundamental aspects to reach the point of the opening, such as:
- The search subsequent selection and training of each of those belonging to staff.
- Personal and organization of accounting issues
- Initial marketing plans
- The grand opening of business.