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5 necessary ideas before start-up business

How to succeed in a start-up?

Many people dream about having a business with a great idea, enthusiasm and a fit budget.
However, How do we start a business? Many small companies must face difficulties, challenges in the very first year.
To get you to know and aware before starting the startup, there are 5 common references:

1.Who is your target audience?

  • This is a significant question. It is common but many small company owners skip this step. Take a deep look at these questions to make sure that you understand the word “WHO”
  • Who is going to purchase your product or service?
  • How many people love your product?
  • How much will they pay for it?
  • How can you introduce it?

2.What is your product’s unique selling point?

  • A question that why they should choose your products/services instead of others. There is not necessary to be completely different, but the owner has to identify one unique selling point to make customers choose you rather than competitors.
  • For example, you open a shop in a mall, what will customers choose your place? Do you have an exclusive product or brand that others don’t?
  • Or if you provide consultant services, how can you show the potential customers that what you give is the thing that nobody can imitate?
 

3.What is your plan?

  • Your next step is planning. Despite its simplicity, writing down specifically what you want or what you achieve helps you know what targets are.
  • Divide them into many small tasks to identify the real time frame for business development.
  • In fact, completing a plan prove that you are in your targets, tactics, expenses and finding out a solution to gain profit. You can use this plan to attract more investments or bank loans
 

4.Identify the model and corporate management solution from the beginning.

  • Exactly this is not an interesting task, but it is important and valuable. Based on some business owners, there are some references:
    • Decide the business model, form and do the registration.
    • Open a bank account and decide the method to overlook your expenses.
    • Have a look at the accountant, although using online accounting programs or hiring an accountant, which will prevent you from difficult tax reports

5.Success needs your efforts

  • Do not try to run fast, most business owners accept that staying focus on long-term development is the best way to grow business.
  • When you choose to extend your company, you will meet some difficulties and maybe you fail.
  • Finally, this will maintain your energy and enthusiasm, keep your mind clear and success is going to find you.
 

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