How to Set Up Your Own Business

Business is the salt of life. Having your own business is the best thing ever because you don’t have any tension of income then. You become your own boss. Being an entrepreneur by setting up a small business is much better than getting a job because in a job you are considered as a slave of your boss. You have done well by setting your mind up on starting a new business. In this blog I am going to share you some points that will help you in starting and flourishing your business. So let’s get started:-

First of all I will discuss with you about how to open your own business

1.    Gain Some Experience First:-

Being a businessman without any experience is very difficult. You must have to gain experience first. You must have the knowledge about your business, your business goods, their flaws, their workings, their prices etc. To gain some experience you must have to work in a shop under someone. For example:- If you want to open your own medical store, you have to work in some medical store first to gain knowledge about medicines. Similarly if you want to have your own autos you have to work in autos to know about the parts of cars or bikes. In this way you can also be able to deal with the customers. You must be thinking that I am dragging you to work under someone but you don’t want to work like that. Well remember every master was once a slave. In order to be a master you first learn the tactics of being a master. Similarly if you want to become a businessman you must work under another businessman to learn. You can work under someone until you realize that now you have all the knowledge needed to open your own business.

2.    Considerable Amount of Money:-

Well this is obvious that without money you can’t open your own business because money can buy you a shop, the goods, sitting arrangements and other things important for a shop. If you are planning to open your own business, you have to earn a decent amount of money first or if you have a good stock of money that will do the trick as well. Amount of money depends on the type of business you choose. Opening a computer shop will be costly as compared to open a general store.

3.    A good Spot:-

After you make up your mind and collect enough money it’s time to buy a shop now. You must choose a good location where there are other shops and a location surrounded by people. But remember if you are choosing some business you must choose a spot which is considered to be a main area for that business. For example if you want to open a medical store, you must open it either neither a clinic or a hospital or a place where there is a majority of medical stores. This is not always necessary but this is recommended.

4.    Attractive Name:-

After buying a shop you must choose some name. Try to keep your name short and attractive that attracts people. You can ask for suggestions from your friends or online or if you are able to think a good name then that is well and good.

5.    Proper goods:-

After following all those points now is the time to load your shop with goods. At first, go to wholesale market on your own and pick the products of good quality. By the experience that you have gained, that I have discussed with you in the first point you must be able to know the quality of the products. But if you hesitate in picking goods then bring someone with you whom you can trust and who knows about the quality of products that you want to buy. Buy enough goods for your shop and shift them in your shop. Remember always place the same goods or the goods of the same category together. In this way you would be able to remember what goods are placed where.

6.    Give Proper Time to your Business:-

This step is very necessary. Many people wind up their business just because they can’t or don’t give proper time to their business. Sitting on a chair for a whole may be a drag but you have to do it in order to have a successful business. At least you are sitting on your own chair and earning your own, so your own business worth your precious time.

This is the idea to open your very own shop. Now I will discuss with you about how to flourish your business. Because you know flourishing is important. So let’s get started then:

1.    Print Pamphlets:-

If you want to grow your business you must spend some money to do so. Printing pamphlets and distributing them is a better option. In this way people would be aware about your business. Try to design an attractive pamphlet if you can or ask for help who can design for you. Add important information about your shop like its name, location, type and your contact number. You can distribute your pamphlets through newspapers. Ask a newspaper company to allow your pamphlets to be distributed through them. You might offer them some money for this as well. But they allow most of the time.

2.    Advertise your Business:-

Advertising can be done on many platforms. You can ask the cable operator to advertise your business on the television. But the best way to advertise your business is by promoting it on social media. Many people today use internet more than anything. Internet provides a huge set of opportunities for entrepreneurs. You can make a facebook page of your business and then keep your facebook page alive but regularly posting on them about your business and promote your facebook page. You can create a website and place all the necessary information about your business and promote your website. It will not only aware people about your business but you might get more customers as well.

3.    Print Banners and Posters:-

Print banners and posters and spread them throughout the city. People may come in your shop to shop by looking at those banners and posters. Add all the necessary information about your business in them as well.

4.    Design business cards:-

Business cards are necessary for a business. Design business cards for your business and give two or three cards to your customers and ask them to tell their friends about this shop by giving them business cards. This is also the best way to promote a business.

5.    Facilitate your Customers:-

To increase customers you must facilitate them. First of all you shouldn’t think about your profit. All you need is to think about the satisfaction about your customers. Ask your fellow shops about the prices. Keep your prices lower than them. But keep in mind that you must not undermine yourself by lowering the prices too much. People go for inexpensive things. You must provide them inexpensive things at first. They might be your regular customers then if you win their trusts. First facilitate your customers and when you see now you have done facilitating your customers enough start facilitate yourself.

6.    Keep yourself Updated about new Products:-

Keep yourself updated about the products that are introduced recently in the market. Your customers shouldn’t go bare handed from your shop. You must be aware about the shortage of the products in your shop and you must be aware about the new products. Then you must buy those new products and shift them in your shop.

There are many things that I might have missed because business is a vast field and setting up a new business is a lot of hard work. Yes you heard it right, the things that I have discussed in this blog may be very hard to implement. You ambition and your interest towards your work count. You have to be good at dealing and winning trust of your customers. Remember one thing customers might bargain on some products but customers aren’t more intelligent than businessmen. You have to figure this out by your own. I have left a hint in that sentence. My blog was about setting up business and that sentence is about how a businessman is more intelligent than a customer.

Well that’s it from me. I hope you like and follow my blog.