Tips on starting a new business

Working 9-5 is good but not good enough. A job would help you get the basics you need to survive, but you won’t be able to the life of your dreams. The majority, however, go for something that looks easy but is rather difficult. For example, setting up a business and hiring a team to run it is easy but seems difficult while working on a regular 9-5 job seems easy but is difficult.

Some people are blessed enough to have a family running business, and all they have to do is become part of something that is already established while some people have to make everything from scratch. In either case, the initial stage is difficult, and the rest isn’t that difficult. Once, you have understood how a business needs to operate; you can hire a team of dedicated workers to work for you in return for a fee/fixed salary while you take away the major share.



Before starting any venture, think whether you have the time to invest in the business. Any given business won’t run unless you give proper time in it. Hence, find out whether you can take time out of your daily schedule and if you think you can, move on to the next stage.

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By now, you have taken a step forward by restricting some of your previous activities and extracting tie out of it. You can now use this time to think about a revolutionary idea or a basic business model. Remember, an idea is not the first step of getting into a business, time is. If you’ve time, you can think of an idea, improvise it, and even implement it. But if you have a mindboggling idea but no time, then no luck.



Then approaches the third stage of finding yourself a team having expertise your business requires. The second stage explains exactly how many workers you would need to get into action. It may vary as per the size of your opening business for example; a physical clothing store would require more employees as compared to an online store. Know that overinvesting in this step wouldn’t always be fruitful as hiring extra employees would cut your profit stream.


Target audience

In this stage, find out which categories do you want to sell. It solely depends on the product or service you’re selling. For example, if you’re a toy manufacturer, kids would be a direct target audience. Furthermore, if you’re producing or selling beauty products, growing female segment would be your option. It all depends upon the nature of your business.

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Creating an online presence

Any business whether retail or online must have an online presence. Nowadays, people are so busy that they want everything to be available online. If you got a retail outlet, try going online and delivering the goods to the customer’s doorsteps to kill the competition.


Protect your strategy

You must protect your strategy by all means necessary as if it gets stolen or leaked, someone else would be able to reap the profits. If you do not trust the people around you, try making your PC or laptop inaccessible to unauthorized USB drives. Try newsoftwares usb blocking software and prevent any access that you do not trust.

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