How to start your own business in 2020
Now in many publications there is a constant discussion about the fact that many will soon be left without work. Soon it will be five or ten years. From the point of view of a 50 year old person, perhaps we should not worry about this topic. But those who are younger and younger significantly need to really think about this topic. And the question is very simple. How will you earn money on food, on mortgage and in general, how will you live? In general, there are two ways in which the situation will develop. The first is to get additional education in your profile for higher social status or new knowledge more promising in the future from your point of view. The second is to start your own business. To open and, most importantly, to decide on opening a business in 2020 is quite difficult.
Many people think about it, read literature, watch videos on the Internet. Your business is completely unknown, nobody is going to take care of you there, nobody will prompt you and you won’t just borrow money. It’s the uncertainty that often paralyzes you. That’s why many people keep going to work, dreaming of starting their own business as an unfeasible dream. Many specialists advise, when solving a difficult task, to break it down into parts and start solving them. The most difficult then at this stage will be the right to break down the project (starting a business) in simple and relatively independent parts. In this article we will try to remove the uncertainty that arises when you want to open a business, and break down our task into several steps.
1. We choose a direction, what we would like to do. If this business is serious enough, with large initial capital investments, then try to start it with minimal investments, in the variant of microbusiness. Or look for companions, so you don’t have to spend your last savings.
2. Who needs your product? How is it better than what’s on sale in the next store? How is it different and more attractive? Ask yourself that question. Do you think that everyone makes millions just on some new ideas or products? Not at all. Basic money is earned on existing businesses, but having the difference interesting for customers (customers). Or their niche. Development of the idea. Keep an eye on the thought. I know how to draw and I like it. I will open a drawing school for children and adults. I will open a studio in which basic patterns and with the provision of all materials for creativity, people who can not draw, in two or three hours will draw a picture with my help. Organization of the evening for clients who want to draw a painting themselves, with a glass of wine, in a cafe. The continuation should … This is the search for new opportunities in an existing business.
3. Draw up a business plan. Many argue about this point and believe that a business plan only needs an investor to know the payback of the business. Yes, it is. But an entrepreneur starting a business needs it just as much. And you will need a business plan not for two or three years, but for the next six months or at least a year. The first year of business existence is the most important, it is during this period many people do not withstand and close businesses or IE.
To do this, open Excel or take a piece of paper and draw twelve columns. Now write in these columns the income from your sales, remembering that at the beginning everything will not be sold as fast as it was planned and not in such volume. Do the same with the planned expenses, at the end add a line with the name – not planned expenses and add to it a third or 50% of existing expenses. Also, don’t forget to pay (possibly with existing installments) for equipment, goods or tools. The business plan should take into account all the time spent on obtaining approvals, licenses, certificates, if necessary. You should understand the business plan, when and at what time you will need this or that amount of money. And do not forget that the time in your case, it is also money. The more you run around looking for money to buy the cash register, because you have not thought about it beforehand, the more you will lose without starting to sell. Now analyze your income and expenses. Is there any profit and there will be no cash expenses in the process. Look at how much money you will need at the initial stage and where you are going to get it. You may need a companion. Then you’ll need to convince him that it’s worth it.
4. Marketing. When choosing one type of advertising, think about your client. Clients with a particular problem. In the example of drawing, it’s definitely social media. More creativity and creativity, and then the cost of advertising will be reduced.
5. The team. As they say, one in the field is not a warrior. So, depending on the type of business, sooner or later you will still come to the conclusion that you need to pick up the staff. Initially, use all resources where you do not have to pay anything, but relatives in the business, especially those in conflict, is always a bad idea, even when saving money.
6. Start selling by focusing on your product or service. It will be difficult at the beginning, especially without a team. As they say, Figaro is here, Figaro is there. One in many faces, and the customer is your boss. Even if at some point you have more orders than you can make, do not stop looking for new customers. Don’t flatter yourself that you’re not replaceable. Otherwise, sometimes there may come a time when your product or service will not be offered to anyone.
7. Do not lose your spirits in any situation. In business, as in life, there are cases and falls. If you start a business, you must be an optimistic realist. Do not lose vigilance, keep an eye on the market and the wishes of consumers, and then luck will be with you.