How to start a small business

With this article I start a new section of the blog “Business”.

So, how to start your own business, your small business, which will help to ensure a decent life?

Step one (psychological): getting rid of stereotypes

With regard to business, there are many speculations and often conflicting stereotypes. We may understand that this is nonsense or not the whole truth, but they sit deep in the subconscious and prevent us from acting effectively. For example, these stereotypes:

– it is worth starting a business, how will you get rich right away (90% of firms go bankrupt within three years)

– business is an incredibly difficult business, you need to be a superman to successfully engage in it (at least for a small business – and we are talking about how to start a small business – quite quite average abilities and perseverance to achieve a certain success. And when you open a small business, you can hire such “supermen” who didn’t have enough determination to start their own business and build a BIG business =))

– business is the most unstable activity. You can never be sure that you will not go bankrupt tomorrow (there are insurance mechanisms, and there is no stability anywhere at all, and it’s definitely in work for your uncle – it all depends on your uncle’s mood).

Step two (preparatory): we evaluate ourselves

At this stage, you need to evaluate yourself in terms of the future business. Naturally, it is better to open such a business that you yourself will like and in which your strengths will manifest. Think over:

1. What would you like to do? What would bring you not only money, but also moral satisfaction.

2. What can you do well? 
(The first and second questions overlap, “to love doing something” and “doing it well” is often the same thing. For example, you love and know how to cook. Open a cafe! Love to read? Open a bookstore or a newsstand.)

3. What professional contacts and contacts do you have? 
No comments. A very important question, as you understand.

Step three (and again preparatory – measure seven times …): evaluate the market

What you like to do in the market? Is there a demand? Perhaps you want to open a cafe, but they are already at every step, and then there is a break in the city and McDonald’s … It’s sad. It is necessary to change the way – or come up with a weighty competitive advantage, which is quite difficult for a novice businessman.

Step four (last preparatory): business plan

With the industry business have decided, now it’s time to make a business plan. The question is very complicated, so it’s better to discuss it in a separate article.

Step Five (start): Search for resources for business

To implement a business plan, we in any case will need financial or technical resources. Where to get them? In principle, the options are full. This is again the topic of a separate article.

Another kind of resources is human. Read a separate article about how to find a team for business.

Step Six: STARTED!

Successes! Wait for new publications, leave comments – I will be glad to any advice.

Volie Septing

One comment

  1. Peace to your home. Thank you.

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