How to make money in a small business

You can earn money in a small business if you choose the vector of the application of forces correctly. For this, it is important to draw the right conclusions from the market situation in your region. If we talk about the most promising niches, then today they include everything related to the provision of services.

You will need

• -Marketing research;

• -Business plan;

• -Marketing plan;

• -Room;

• -Staff;

• -Calculation.

Instruction manual

1

Analyze the situation, which services are in demand in the city where you are going to open a small business. As a rule, in any settlement, what is associated with the service is constantly popular. It can be dry cleaners, laundries, delivery services, minor repairs of clothes, etc. When opening a business related to a service, you will not be left without customers.

2

Calculate the costs that are needed initially. This may include funds for registration of a legal entity, rental of office and industrial premises, purchase of equipment, raw materials, marketing and promotion. Decide whether to use borrowed funds or manage personal. In the first case, it is necessary to write a financial plan showing in what terms and in what parts you will repay the loan.

3

Make a complete calculation of the services provided. It should include all costs that will accompany the service. For example, if we are talking about such a small business as an apartment cleaning company, consider the cost of consumables, a car to deliver workers to the facility, their wages, and other overhead costs. Add the desired markup to this amount. So you can correctly evaluate the services provided.

4

Develop a marketing plan. It should include such sections as a description of competitive advantages; consumer preferences; stocks aimed at winning customers; advertising and PR, with which you can inform potential customers about their existence; sales plan.

5

Hire staff who will carry out work in your small business. The compilation of the staffing should be accompanied by the development of job descriptions. Do not strive to use typical ones: instructions drawn up for the needs of a particular business, a better choice. Do not forget to familiarize the applicant with the requirements for the vacancy at the interview stage. When signing an employment contract, ask the employee to sign also under the job description. If you approach a small business with great responsibility, it will allow you to earn quite decent money.