Before beginning the entrepreneur is worth a million questions, and some definitely need to be answered before starting a business. These tips will allow you to concentrate on the essentials and to turn an idea into a working project.
1. Describe an idea on paper
Business starts with an idea. This is true. And the main task in the first phase – presentation of their business idea on paper. Once you write a few words about his idea, many things will become clear. So not only do you structure the your thoughts, but also to fill the gaps that will be identified in the process.
Describe the product, the association that it causes. Describe how you see your business, using the definitions that are suitable for the usual things, “cheerful”, “audacious”, “bright”, “calm”, “family”. Describe what you see in front of your target audience. Many entrepreneurs are doing it already in the process, however useful it would be to do before starting.
Now share your idea with loved ones. Their questions and comments to help you make the adjustment and supplement plan.
2. Decide on the amount to run
Many of the ideas do not come to life without undergoing checks at this stage. Therefore, we will not neglect the calculations and consider the expenditure items that are coming you while you run your business:
Register you as a PI or a legal entity.
Creating your own website.
Set the necessary personnel.
Design and Printing Printing (possibly packaging).
Photo and video shooting.
Investments in corporate promotion.
Do not forget to defer approximately 20% of the resulting amount for unexpected expenses!
Planning and evaluation of costs – better check your ideas.
3. Make a plan of sales and expenses
Excellent solution – to make three plans:
Optimistic. This is an ideal plan for the implementation of your business: the highest demand, a large number of customers. Write down on paper how many customers buy from you every day. So you can calculate how much you will be able to sell for a whole month.
Realistic. Now reduce the numbers of the previous plan by 30% and again record.
Pessimistic. Imagine that at the start of sales are low, customers are much less than you originally anticipated. It is better to stick to the plan. So you will not deceive in expectations.
Important: do not forget about the fixed and variable costs. Remember the monthly return of the debt or loan, if he will have a place in your case. Note and record all indications the net profit or loss.
4. Plan the team
Now you need to decide which team will ensure the implementation of your plan. These are questions that must be answered:
Do I need your business to another leader besides you?
Do you give a part of the work is outsourced or the entire staff will be full-time?
What is the work schedule you adhere to?
Determine the system of remuneration of your employees. The salary, interest, premiums, bonuses or intangible rewards.
Will you have an internal corporate training, whether it is needed in your area?
For many first-time entrepreneurs, these questions seem irrelevant to the start and at the start. But experience shows that the earlier paper will answer all the questions, the sooner they are implemented in your business.
5. Decide what you will do you personally
On this occasion, I have two interesting life hacking.
Firstly, you need to initially think so, if you own a large international network. Thus, all your decisions will lead to business success.
Secondly, it is not necessary to sink in operating activities, and be a director, and a porter and messenger, and manager at the same time. Hire workers directly. Otherwise, you will spend a lot of time that would be better to devote to the development of their company.
Use these tips and zoom your idea to a successful implementation. Importantly, do not be afraid to act, make decisions and take responsibility. Maybe that’s your idea, more than any other, deserves to successful implementation!