Friends,
Before starting new work or business ie engaging yourselves in any new activity plz refer 10 general points suggested by industry experts....
1: Decide What Products or Services Your Small Business will Offer
The first of the steps to starting a business is to carefully consider these questions:
- What do you have to offer?
- What makes you an expert?
- Do you have all of the education and skills you'll need to compete successfully in the marketplace or will you need to do some brushing up or retraining first?
- Does the product or service meet a need?
- What you have which your competitor do not have?
- How sensitive is marketing this product or service to general economic conditions? When the economy is weak, how do you think your business will be affected?
- Will you be able to go through the steps to starting this particular business - is it something you'll love to do or sell - or are you just going through the motions of starting a small business to try to make some money?
The saying, "Do what you love, love what you do" should not be taken lightly. Your business is going to be your livelihood - you should have a good time doing it. "Convert Your Hobby into your occupation". If not, it will be difficult to get motivated at times.
If you are excited about your business, your customers will notice and it will be easier to get them excited, too. Plus, completing the steps to starting your small business will be fun and much more en
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Step 2: Know Your Market and Your Competition
When you are going to start a small or home business, understanding about small business marketing concepts, like getting a command over the potential market for what you small business will have to offer and the value proposition of your small business is very important.Here are a few things to consider:
- Who is going to buy your product or service?
- Will you market your product or service to business houses, to consumers, or to both?
- What traits do you think your "typical" customer or client will have?
- Is the need for your product or service not currently being met or is it already exists?
- Is there something about what you have to offer that will allow you to beat your competitors?
- How will you differentiate yourself from your competition (Unique Feature)?
- What is your value proposition ? What is your competitive advantage?
Keep Waiting for other TIPS, soon we will give you.
