Aug 8, 2016

Are you ready for starting a business?

Saurabh Chawla |

businessman

 Starting a business can be a daunting task. You require courage, determination and confidence in doing so. There may be thousands or even millions of startup ideas that would encourage you for starting your own business. The question is not that you straightaway jump into an arena mindlessly. It takes a moment to decide a good thing but several moments to decide what is the best thing for you. 

You could join any of the several business startup programs and learn the tricks of the trade. You could also rely on your inner conscience for taking the big leap. I prefer taking the latter approach. This is because I believe in the fact that experience is the best teacher. Whether you are stuck in a boring job or your personality doesn't allow you to work under somebody etc. Whatever may be the reason, you must be ready for starting a business right?

Below mentioned is a checklist which would help you in getting answer to the question:

1. You are confident of your skills:

First of all, you need to be absolutely confident about your skills. The industry in which you are planning to jump into and become an Entrepreneur, you must fit into the picture absolutely. You can research in detail about the industry to understand the know hows of the functioning of the industry you are planning of building a startup in. Just dig deep and research your business sector in order to strategically plan your business venture accordingly. This will boost your confidence as you would be aware of your knowledge and skills.

2. Commitment

While starting a business, you would be able to show a full commitment and dedication to your business. You might be tempted to start multiple businesses at the same time. You cannot chase two rabbits at the same time. If you focus on the single business, the probability of  succeeding would be higher. Commitment is the key to succeeding as a startup and  as an Entrepreneur.

3. Get along with like mined people

Alone, you won't be able to develop a business. You need a team of like mined people who believe in your passion and your way of working. Same is with the collaboration with other businesses. Make a strategic alliance with the businesses having businesses in the similar field like you. Competition should also be there but in a healthy way. So collaborating with businesses or companies in similar industrial domain.

4. Be clear. Develop a Business Blueprint

You just can't move around without having a plan in Business. You need to be clear about what you plan to achieve through the business. For this, you need a blueprint that will define the short term and long term aspects of your business. Make sure that the roles and responsibilities of each team member is clearly listed including yours so nobody deviates from the actual purpose the business is serving.

If you feel that you have fulfilled the above points satisfactorily, you are ready for starting a business.

1 comment:

  1. It's very important that you are prepared in all aspect before you start your own business. Make a thorough research regarding your target market and how you plan to do your marketing strategy just like how essayrepublic execute their business strategies.

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