My report is about your own business. It called “what to do if you want to start a business?”. I will talk about setting up your own business, how to do it, what you need to think about if you want a productively business and other very important things. It is very risky to start your own business especially if you do not have enough information. There are the main steps which you need to consider.
First step – business plan
It is noot easy to start your own business. You need to do and think about a lot of things. First of all you should think about your product, what it looks like. Consider your idea at least two times and think about every version before you finally make the decision. Firstly, make sure this business makes economic sense. Secondly, think if your product will come onto the market and if the costumers really need it. Next step is the main – business pllan creation. Now it is easier to write it as you have a clear picture of what the finished product should look like. Talking about your business plan, first you have to think about your business plan format, what your vi
Also, if you want to create a good business plan and start your owned business is necessary to understand the marketing. Furthermore, it is normal to hire some people to help you. For example, you can hire a consultant of your prospective business range, that he/she will say your business advantages or disadvantages, make rival firms analysis; organizer – to organize your opening day; designer – to design your product appearance or your work place interior, also, do not forget to order internet web site; manager – to make contracts with commerce deepartment or with shops where your product will be in market, also to get sponsorship. Of course, you can consult with financial service.
To sum up there are three primary parts of a business plan:
1. The business concept, where you talk about the industry, your business structure, your particular product or service, and how you plan to make your business a success. 2. The marketplace section, where you describe and analyze potential customers: who and where they are, what makes them buy an
3. The financial section contains your income and cash flow statement, balance sheet and other financial ratios, such as break-even analyses. This part may require help from your accountant and a good spreadsheet software program. It is a good idea to buy business plan software to help you prepare your plan. The software will prompt you, making it easy to “fill in the blanks.”
Next step – financing
Talking about financing, it is difficult to get money for a business, specially, if you need a lot of money. If you have your own things, you can mortgage them. Jewelry, pool tables, boats, second properties – the list goes on. Largest assets are houses and cars. Immovable properties are mortgaged the most frequently. You can do the same with cars. Your friends or family is the other way to get financing. Identify those people who know your character, abilities and trust that your deeds will match your words. Family and friends with whom you have good relationship, and people, with whom you have worked, especially your supervisors or employers, may help you with getting money. Of course, your fr
Other way to get money is to borrow from a bank. You can take a credit, but a bank gives it with some conditions. First of all it is very important what kind of sum you want to take as a credit. If the sums of money are huge, then you have to mortgage something what is valuable such as your house, country – house and so on. Also, it is better if someone to stand bond from you. Another condition is th
If you want to start your own business, it is needed to do two steps: to create a business plan and get financing. At first sight it seems to be very simply, but it is contrariwise. The hardest thing is to creative a good business plan. It includes your business product, your work place, market strategies, how many people will work for you, what kind of people will be your customers, analyze other similar firms and make sure that your product will be making profit. Other step is to get financing. It is also difficult to do, because a huge sum of money is needed to start your own business and probably the best way to get it is to take a credit from a bank.