- One page summary - Whenever you start a business, its first step is to write it, Often people make the mistake that when they have an idea of a business, then they do not write the plan, due to which they face problems going forward. It is very important to write your plan because when the plan is in your mind, then you do not find any shortage in it. But when you write it, then you will know what is the deficiency in that plan.
- You have a good business plan but you don't have the money to execute it, then you will go to an investor who will put money in your business, And when you go to see his plan, he does not have that much time, he has 4 5 pages of the plan, due to which he will reading the plan very quickly.Because of which it gets confuse and you also do not explain anything to him because you also remain confused.That's why he refuses to invest in your business. Whenever you write a plan, try to make the plan be on one page, if it is of 3 to 4 pages then you will not understand it yourself.
- Need Employees - Employees are most important for any business, but do you need employees in the business you are starting now ?. It is possible that the level from which you are starting a business may not have much work in it and you can do it alone. Often people make the mistake that when they start business. So to keep themselves free, they recruit employees and get them to do the work that Kamvo can do on their own.And for which they give redundant salary to their employees. So when you start your business, then you should do your work and whom your business grow, then you can recruit employees.
- Right suppliers - Have written your plan, now is the time to find the right supplier for you in the market, because now you are new in the market, you do not know which supplier is right for you. Because there is a lot of competition in the market, every supplier thinks that his goods are sold soon.There are also many suppliers who sell expensive and fake goods and if you accidentally go to those suppliers then you may have to suffer a lot of loss.So first of all, find the right supplier for you and research from which supplier most people in the market buy.And which supplier is your supplier, who buys the goods and by this you will find your right supplier easily.
- Your competitor - Always respect your competitors in life,business is not a battleground that if the front dies, you win or if you die, the front wins.Business is like a school where neither you lose nor do you win, you just learn.Your competitor is the most involved in advancing your business because you are a competitor, so you work hard to compete with him.To make your product better, you adopt new techniques to attract your customer towards you, so. that your business starts to grow without you knowing.So don't ever hate your competitor, but you should respect them.If you do not have a competitor in your business, then your business will not be able to grow quickly.
- Target market - When we make our first product, we are very confident on our product, we think that these are the best people who will run away to buy it.In this overconfident, we lunch the product anywhere and anytime without knowing our market. And because of this we get very bad results.If you want to catch fish, you will go to the sea, not in the desert, just like that,To get a sale in any business, it is most important that you are doing it in which market?. No matter how good your product is, it will not sell until you have the right market for it.
- Your costs - What is the cost of your product? It is very important to pay attention to the cost of any product while making it, When we need to know the cost of our product, then material manufacturing light bill labore and transportation, They all have to calculate and find the cost of the product.And then we finish the price of selling that product but many times people are new in business.And due to less knowledge, they do not know the cost of their product, due to which they keep the price of the product either higher or lower.And both of them are at a disadvantage because the same product as yours, your competitor is selling at a lower price.That's why customers won't buy your product.And because you are less than your cost, you will not be able to fill your expenses.
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