Building Your Business

By Martin Jay

The steps that you need to succeed are right here in this book. Everything you want and everything you wished you could do in the business world is now obtainable. Don't look at this as a book. Look at it as a path to your amazing future. 

• Language: English
• Publisher: Martin Jay
• Release date: May 9, 2020
• ISBN: 9781393477853

Book preview

Building Your Business: 18 steps to success

If you’re new to the field of businesses, then you should know that building a business empire is not a simple task. You’ll require various items from the equipment to the office space, employees and other important tools.  Also, you will be paying the staff and the suppliers of different items at particular times. Therefore, a business requires massive financial investment, and you must look for ways of getting the money to launch a business startup. There are many ways of getting the money from applying for a loan to saving money or looking for funding. 

BESIDES, EVEN IF YOU have a great business idea which you’re enthusiastic about and would like to invest in it, then you will need hundreds to thousands of dollars or funding to get it moving. However, you may have some money now, but it is not enough to launch the business. So the best option for you will be to save the cash and spend it later when you are ready. This article provides a step by step guide on what you should do when saving and investing your money. But, you should know that most of the factors depend on your personal goals and circumstances. Therefore, it's ideal to analyze your financial status and plans before venturing into a massive business investment.

18 STEPS FOR STARTING Your Business

1.  Refine your idea

2.  Be Inspired

3.  Be Passionate

4.  Educate yourself

5.  Come with a business plan

6.  Start Saving for the Business

7.  Come up with financial and operations model

8.  Come up with a staffing plan

9.  Develop a sales and marketing plan

10.  Determine the legal Business structure

11.  Determine what you need to start

12.  Register with the government and IRS

13.  Analyze the risks

14.  Get an insurance policy

15.  Quit your current job

16.  Develop your Team

17.  Look for potential clients

18.  Promoting your Products or Services

REFINE YOUR IDEA

A GOOD BUSINESS IDEA will make you feel like you’re on top of the world. Once you have it, you’ll feel like implementing it right away, but wait, that’s not a wise thing to do. You should take a step back and check if your idea is worth it: it’s the basis of refining an idea.

Well, the first thing to do with a business idea is to make it clear so that you are able to mention it without even blinking. Be clear on your business idea, what intends to achieve, and its benefits. This enables you to understand the value you are bringing to the community and how your business will make money from it.

Also, remember to share the business idea with friends, family, and other people out there. Though you might have fears of someone stealing your idea, it’s the best strategy as it allows you to get feedback from many people. Besides, anyone is your potential customer, and talking to them enables you to understand what they love and what they may not.

Besides, when you talk to people and receive their feedback, you’ll want to execute your plan. Just ensure you speak to the right people and listen to all opinions without interrupting them. 

Come up with a simple questionnaire which you’ll use to assess your target customers. Online tools such as Survey monkey or are useful in designing them. You can also use Google Forms.

Ensure the questionnaire addresses the aspects below

•  Need- if they’re aware of the problem you want to solve and if they regard your product or service as a necessity

•  Products or services they’re already using and their benefits and kickbacks

•  The amount they’re Willing to Pay

•  What product features are crucial for them

•  The place they usually shop products in, i.e., retail or online stores

•  Other important information on the customers

USE DIFFERENT STARTING points and think of many ideas as possible on the target customers and the overall industry in an organized way.

ALSO, THINK OUTSIDE the box as it’ll be crucial for your entire business plan.

Define the target customer

I.E., WHERE THEY WORK, their challenges, how they spend a day, the tools or devices they own, and the platforms they prefer.

b.  Define the broad idea, i.e., existing solutions, how the product will work, its benefits, its features, how to monetize it, the major