How to start an entrepreneur business

Planning is the basis for the success of any startup. Work on promoting the business, attracting customers and optimizing production begins long before its opening. It is the quality of your preparation for future entrepreneurial activity that determines whether you will become one of the few successful businessmen or join the ranks of those who could not stay on the market.

Instruction manual

1

You need to start building your business not from searching for money or acquaintances, and not even from choosing an idea, but from yourself. To open your own business, you need to identify personal qualities that can help you in your business. There are tests that determine the potential of the individual in the business sector. Take the "test of entrepreneurial personality" from Thomas Harrison - this will help identify the qualities that will help you in business - you need to develop them in every way, as well as those that will interfere with you - you need to get rid of them accordingly.

2

Choosing a direction of activity is the next step on the path to a businessman’s career. In order to open a company, you need to decide on a business idea. It can be either your own idea, born in your head, for example, after several years of activity in an adjacent field, or borrowed. Today, tens of thousands of finished projects are published on the Internet - they can be used as a basis.

3

Having chosen an idea, determine its viability. A good business idea is one for which you can easily find answers to questions:

- is there a need for your service / product?

- who is the consumer?

- How can you beat your competitors?

4

Make a business plan for your future business. Starting a business from scratch, it is better to develop a plan on your own, rather than ordering it from third-party companies. You can use the TACIS and UNIDO international templates to help you plan your business. Choose any of them and draw up a business plan based on them. When preparing a business plan, pay particular attention to conducting a detailed SWOT analysis. It will allow developing methods for enhancing competitive advantages, eliminating disadvantages, and also working out tactics of actions in case of unforeseen situations.

5

With a ready-made business plan, starting a business is much easier. It remains only to act in accordance with the intended plan, putting your ideas into practice. Get the necessary permissions, licenses, select a tax and accounting scheme. Find a place for your business and search for funds.

6

Most often, borrowed funds act as sources of financing. Do not rush to contact banks - try to borrow funds from relatives and acquaintances at a minimum percentage. The guarantee in this case will be your credit of trust, which accumulated during the entire period of your acquaintance. Use this resource in full!

7

Start looking for people with a similar worldview. Such people should be the backbone of your team - it is the team, or, if you want, the staff of your company must become a family so that the latter is successful. Treat your employees as professionals and they will repay you with integrity and diligence.

Useful advice

When choosing an idea for a business, try to focus on the activity in which you yourself can work effectively - this will save the corresponding specialist on salaries.

When preparing a business plan, work out the financial and organizational part for at least two years in advance - this will avoid unpleasant surprises.

After registering your business, register in all funds that you can find in your city and participate in all small business support programs.