Top 4 Strategies for Starting a Business even if it's your first

avatar

Let's be honest, starting a small business is fraught with challenges. First, you have to find a market need for your product or service. After you've identified that need, you start thinking about how much it will cost you to have your product made or service provided. You'll need to invest money in marketing and advertising, hire employees and manage cash flow. All of this is before you even recoup the money you put in to get the business off of the ground. It's an exciting and stressful time!
image.png

Understand your target Market

One of the most important things to do when starting a small business is to make sure that you have a clear understanding of your target market. This means that you need to know who your potential customers are and what needs or wants they have that your product or service can address. Once you have this information, you can start thinking about how to reach these individuals through marketing and advertising. Additionally, it will be important to consider how much it will cost to produce your product or service and what price point you need to set for your business to be profitable.

Have a business plan

Another important aspect of starting a small business is putting together a solid business plan. This document will outline your business goals, strategies, and how you plan on running the day-to-day operations of your company. Having a well-thought-out business plan is essential for any successful enterprise, as it will help you secure funding, attract investors, and keep you on track as your business grows.

If you're not sure where to start when it comes to writing a business plan, there are plenty of templates and resources available online. Once you have a basic outline of your plan, be sure to include financial projections for the first few years of operation. This information will be crucial for potential investors or lenders who want to know if your business is viable and has the potential to be profitable.

Plan to market and advertise your products/services

In addition to having a strong business plan, another key element of starting a successful small business is marketing and advertising. You'll need to create awareness for your brand and get people talking about your product or service. There are many different ways to market a small business, so it's important to find an approach that fits both your budget and your target audience. Traditional methods such as print or television ads can be expensive, but there are also more affordable options like social media marketing or search engine optimization (SEO).

Practice Quality People

Last but not least, one of the most important things you can do when starting a small business is to surround yourself with a supportive team. This includes hiring employees that share your vision for the company and contractors or consultants that can provide expert advice along the way. It's also important to build relationships with other local businesses to create a network of support that can benefit everyone involved.

Uncertain about the business you should start?

If you're having trouble deciding on what business to start, thousands of websites can help you find an idea for your business. Many of these sites will ask you questions about what you're interested in and what skills you possess. After giving some thought to these questions, check out the following tips:

• What are your hobbies? If you like working with your hands, try starting a business based around handmade items such as jewelry, candles, etc.

• Do you have any special talents or skills? Use these to your advantage by starting a business that provides services such as photography, web design, or event planning.

When you answer these questions, it will help decide on the business to start.

Image source

Posted Using LeoFinance Beta



0
0
0.000
28 comments
avatar

I took digital marketing course not quite long and I learnt this your strategies while taking the course....it was really helpful

You made a nice post here champ

0
0
0.000
avatar

I am glad you are learning and evolving. And well done on the additional skills you acquired. That was a bold move.

I hope you find success in your business going forward. Thanks for reading. And for sharing your experience with me. I appreciate. 💕

0
0
0.000
avatar

You're most welcome man

0
0
0.000
avatar

All good points!!!

and the last point is - if all of the above fails, try try again! hehehehe

I have done projects with full business plans, the money to back them, the people who were interested, deposits put down on ALL the things.... and then?
the government changed a law and everything went up in flames LOLOL

and then - i have done projects with just an idea - and a hope - and a dreeeem :)

and God has pieced it all together, requiring me to have such faith!!!

and so - the best thing we can do (in my opinion) is to be prepared at all times. Constantly be refining yourself for the MOMENT when an opportunity comes. because if you are always thinking hmmm i'll do that later...
then when the moment arrives - and you're not ready??? you MISSED because you fooled around too much!

so - be ready so that when that moment comes - you can grab it with both hands. and maybe you aren't as prepared as you thought you needed to be???

but... you HAVE been preparing. all along. so you grab it, and pray for God's favor, and begin to build and collect people who can join in with you. and then enjoy the ride!

but never give up.
always be willing to try!

you have a gift inside you! THAT IS THE REASON you are on this earth. to USE that gift that God has given to you - what will you do with it???

hehehehe love you iska!

0
0
0.000
avatar

All good points!!!

Thanks ma'am. 💕

and the last point is - if all of the above fails, try try again! hehehehe

Hehehehe.... That's an awesome and even the most important point... Cool... Thanks for the addition ❤️❤️

I have done projects with full business plans, the money to back them, the people who were interested, deposits put down on ALL the things.... and then?
the government changed a law and everything went up in flames LOLOL

Wow, that must have been heartbreaking 😔🥺😭😩

What kind of business was it? And what sort of law made it go up in flame?

and then - i have done projects with just an idea - and a hope - and a dreeeem :)
and God has pieced it all together, requiring me to have such faith!!!

And God will always be God, he just wants us to have faith in him.

and so - the best thing we can do (in my opinion) is to be prepared at all times. Constantly be refining yourself for the MOMENT when an opportunity comes. because if you are always thinking hmmm i'll do that later...
then when the moment arrives - and you're not ready??? you MISSED because you fooled around too much!

And you are right. I had a teacher who kept reminding us that once opportunity meets preparation, success is inevitable.

This is the exact thing. We have to be prepared at all times so when opportunity shows up, we'll be able to take advantage of it. And while waiting, we shouldn't forget to refine ourselves.

so - be ready so that when that moment comes - you can grab it with both hands. and maybe you aren't as prepared as you thought you needed to be???
but... you HAVE been preparing. all along. so you grab it, and pray for God's favor, and begin to build and collect people who can join in with you. and then enjoy the ride!

This is so true. Most times we may not be overly prepared but the fact that we have been preparing is a good thing. When such opportunity comes we take our refining moments coupled with God's grace, and the quality people by our sides and flourish.

Love you too, ma'am ❤️. Thanks so much for being here and sharing this thoughtful comment with me. I appreciate you, always. 🥰🥰🥰

0
0
0.000
avatar

hehehe you're very welcome!

and the business was like a combination of a 3 week learning course, travel, and summer camp! for teenagers from 13-18.

And everything was all in place - we had EVERYTHIGN READY. hehehe
but then the president started enforcing the borders much more strictly - and visas became very difficult to get - and we only had a few kids who could get visas in time!

it was still a lot of fun hehehe but.... evrything changed! lol

0
0
0.000
avatar

I am sorry about the restrictions ma'am. At least, you guys still had a bit of fun, although, it wasn't exactly what you planned.

0
0
0.000
avatar

we had the BEST time - and guess what?

even a failed project is not TRULY a failed project.

You take the best lessons from them and then bring them into all your heart and passion for teh future.

even PARTS of tht project are here, hidden in DreemPort! hehehehe so!!! there you go! :)

0
0
0.000
avatar

oh - and of course... i hope you put this into DreemPort! hehehe because this should be shared to many dreemers too! :)

0
0
0.000
avatar

Hahaha.... I definitely will. Thanks again. 💕💕💕

0
0
0.000
avatar

This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating to @indiaunited. We share 100 % of the curation rewards with the delegators.

Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.

Read our latest announcement post to get more information.

image.png

Please contribute to the community by upvoting this comment and posts made by @indiaunited.

0
0
0.000
avatar

I'll consider these things once I become jobless and just handle my own business 😁

0
0
0.000
avatar

Lol. I am sure you'll be great at it. 🙂

0
0
0.000
avatar
(Edited)

Great advice! For me, the theory is not a problem, but putting things into motion. Nevertheless, we got to educate ourselves on the subject.

What kind of business do you have? How many have you started?

Thank you very much for sharing!

#DreemPort

0
0
0.000
avatar

Great advice! For me, the theory is not a problem, but putting things into motion. Nevertheless, we got to educate ourselves on the subject.

Right. We have to put the things we learned into action. That's how it becomes a part of you. Thanks for contributing.

What kind of business do you have?

Currently, I have a blog that's dedicated to teaching readers about affiliate marketing. I am still growing it. Until, it gets to the point, when I can have it approved for adsense. And of course, in the near future,when my readership are comfortable, I will start filling those affiliate links in..

How many have you started?

Two. I had a pastry business in the past. The blog is the second one..If you want to add my Hive account.... That makes it 3.

Thank you very much for sharing!

Thank you so much for reading. ❤️

0
0
0.000
avatar

Very nice! I wish you much success in everything you do!

0
0
0.000
avatar

I never know which Iska I am readng, but posting in LeoFinance should be my clue.
USP Unique Selling Point I always found useful and pretty vital to get an edge and as @dreemsteem says fall down get up again.

Great strategies Iska and popped in via dreemport today:)

Posted Using LeoFinance Beta

0
0
0.000
avatar

Hahaha.....yes, the clue is leofinance... Lol.

A unique selling point is one of our best bet in Businesses. And that's something anyone should be looking for.

And yes, I agree with dreemie, if it fails, get up and try again.

Thank you so much for popping in here. I appreciate. ❤️

0
0
0.000
avatar

First to consider is your target, and it needs to be customer oriented, or one might as well hang it up, they won't make it @iskafan,and also, yes, the first two years in a business is usually under water and takes that amount of time and build up to make it even before the actual reaping from the business.
There were some people here that think I should run a free image posting site hahahahahahaha!!! Nah, too late to run a business now lol.
This post was obtained through Dreemport.

0
0
0.000
avatar

I agree, our target definitely has to be customer oriented... If not that... Why are we in business anyways?

And I can relate to what happens in the first few years. This is something most people don't understand. They think the money will start rolling in once they start.... They are wrong.

Really? A free photo site? That would be awesome...Does age stop the birth of a good business, sir? Lol

Thanks for always coming around. I appreciate. ❤️❤️

0
0
0.000