Christ Lewis's Blog - Posts Tagged "start-up"
Things to Know Before Starting a Business
To be an employee will never make you rich. Every month, you will look forward to the end of the month for the same amount of salary, the income that is enough for only a month or sometimes not. Therefore, you have to bring yourself out of the system as soon as possible. Robert T. Kiyosaki and Sharon L. Letchter explained in their book named “Rich Dad’s Cashflow Quardrant” that general income is from four sources. Those are Employee, Self-employed, Business owner and Investor. But, this article will mention about Business owner only.
Not everybody can own a business. It is too challenging to do that. But even though, anyone can learn to be a business owner. You must change the way of your thinking first in order to change yourself from an employee to be a business owner. This is the most difficult thing. Most people block their financial growth with their negative beliefs.
If you think that you cannot do it, you will never start doing it for sure. Don’t think that other people are better or clever than you; because, these people used to be the same as you before. But, they believe in their capacity and try to change their lives better. Anything is always possible. Why can you not do it when there are many people can do? Take a big breath and see what things you need to know before starting a business.
What a Great Idea!
The most importing is “idea”. Only good ideas will survive. Hence, be careful about it. Initially, you must discover a great business idea. Remember, that idea must be able to make difference among the same group of businesses. Try to think of an idea that cannot be imitated by other people. Importantly, it must answer the need of your customers or can solve their problems. In searching for a great idea, you can consult with your friends, consider your hobbies or your accurate job and talking with some business owners. When you get an idea, you will have to analyze factors that will influence your business.
Important Factors Influencing Your Business
Before starting a business, you need to understand the environment. There are many of external factors that will influence your business. Those are politic, economic, social and technology.
What is the Product?
You must know exactly what your product is. Is it tangible or intangible? If it is intangible, you have to make it somehow tangible. Think about both its characteristics and its containers. Also, think about machinery for producing them.
How About Your Customers?
You may have heard that “Customer is God”. This is pretty sure. Make sure you know who will buy your product, where they live, how they behave and so on. So, you know how to answer their needs.
Who are Your Competitors?
Every business has competitors both in the present time and in the future. Are there any one doing the same business as you? How many of them? How are their businesses going right now? Are they good or bad? What are the strength and the weakness of them? Who will become your future competitors? What actions would you take to prepare for that?
Fund and Expenses
Business is involved with fund and expenses. Basically, you need to be sure that you have enough ability to find the capital and pay it back. What you have to know is the amount of the capital needed. How would you spend the capital you loaned for? How much capital would be needed in the future? In this point, you need to be very careful.
SWOT Analysis
SWOT Analysis is a technique used to help with decision-making. Also, it helps increasing your competitive capacity and makes you understand your business better. This technique consists of the analyzing in four aspects. Those are strengths, weaknesses, opportunities and threats (SWOT).
To read more, please visit www.christlewisbooks.com
Not everybody can own a business. It is too challenging to do that. But even though, anyone can learn to be a business owner. You must change the way of your thinking first in order to change yourself from an employee to be a business owner. This is the most difficult thing. Most people block their financial growth with their negative beliefs.
If you think that you cannot do it, you will never start doing it for sure. Don’t think that other people are better or clever than you; because, these people used to be the same as you before. But, they believe in their capacity and try to change their lives better. Anything is always possible. Why can you not do it when there are many people can do? Take a big breath and see what things you need to know before starting a business.
What a Great Idea!
The most importing is “idea”. Only good ideas will survive. Hence, be careful about it. Initially, you must discover a great business idea. Remember, that idea must be able to make difference among the same group of businesses. Try to think of an idea that cannot be imitated by other people. Importantly, it must answer the need of your customers or can solve their problems. In searching for a great idea, you can consult with your friends, consider your hobbies or your accurate job and talking with some business owners. When you get an idea, you will have to analyze factors that will influence your business.
Important Factors Influencing Your Business
Before starting a business, you need to understand the environment. There are many of external factors that will influence your business. Those are politic, economic, social and technology.
What is the Product?
You must know exactly what your product is. Is it tangible or intangible? If it is intangible, you have to make it somehow tangible. Think about both its characteristics and its containers. Also, think about machinery for producing them.
How About Your Customers?
You may have heard that “Customer is God”. This is pretty sure. Make sure you know who will buy your product, where they live, how they behave and so on. So, you know how to answer their needs.
Who are Your Competitors?
Every business has competitors both in the present time and in the future. Are there any one doing the same business as you? How many of them? How are their businesses going right now? Are they good or bad? What are the strength and the weakness of them? Who will become your future competitors? What actions would you take to prepare for that?
Fund and Expenses
Business is involved with fund and expenses. Basically, you need to be sure that you have enough ability to find the capital and pay it back. What you have to know is the amount of the capital needed. How would you spend the capital you loaned for? How much capital would be needed in the future? In this point, you need to be very careful.
SWOT Analysis
SWOT Analysis is a technique used to help with decision-making. Also, it helps increasing your competitive capacity and makes you understand your business better. This technique consists of the analyzing in four aspects. Those are strengths, weaknesses, opportunities and threats (SWOT).
To read more, please visit www.christlewisbooks.com
