obstacles in starting a new business

Difficulties in starting a new business?

Everyone has a wish to start his or her own business which is the most difficult task on its own.Being your own boss and handling multiple employees is not an easy task,So there are many obstacles which comes across while starting a new business to make our business much successful
and profitable outcomes.

Business Competition

It is the main factor due to which a business becomes very difficult to set up. The rival companies in the market are like sharks too the new company, they do not allow a new competitor to come and decrease their margin rates. The one who is operating for a long time has a good market value.

Lack of fundings 

Most of the people think to start a business but fail to set up a business and the main factor which is a main obstacle in starting a business is money. It requires huge amount of money to invest and have much patience to work on it. When you start from the scratch there are many things that are needed to be developed like marketing materials, staffing, finance etc.

Time management

Starting a new business is not a job where you can start money in a day or two it takes a lot of time to set up , lots of patience to bear the loses and the owner has to handle everything on its own.Buying a franchise of any franchisor then time restraints are not that much because the franchisor is well set up. Starting a new business with a new product is an obstacle in itself.

Read More

Network Marketing

What is Network Marketing?? 

Network Marketing is basically a chain system or a multi-level marketing where a company earns commission by selling product and divides in a form of a chain within the company.

It is a direct selling method in which independent agents serve as distributors for the goods and services and are encouraged to built and manage their own resources. Network marketing is also called mouth advertising.

How does network marketing works??

1. Gather customers who are interested for your product or service.
2. Tell them about your product in such a way that they could get convinced very easily.
3. Never be a salesman of a product, always try to be a consultant first.
4. Always tell them in such a way that they could only see their own benefit.
5. Now include them in your chain and tell them to sell your products and give small rewards in the form of commissions. 

Why people choose for network marketing?

Network marketing is itself a primary source of income and its the only business which focuses most on the earning and the product.Many people may join your network and you can still earn when you are not working.Network marketing also offers a ability to be profitable at faster rates and doesn't needs employees to maintain. 

business plans

Read More

How to get fundings from investors?

fundngs

fundings

Once your business plan is prepared. Try to make a list of all the investors which could understand your idea, think of successful businessmans which can invest in your idea.

if the people on your list are unable to help you ask them for the names who might be able to, you can ask something like this ;

• Can you provide a direct lead who fits to my profile
• Can you name someone who is an ideal investor
• Never demoralise yourself with rejections. Always believe if your idea has some potential it will surely be successful.

Choosing an investor

Choose an investor who can give help you in expanding your idea with his contacts.Owning a business can be humble experience.It will test your problems and sometimes beside money some problem may also occur which could be solved an investor only,so an ideal investor should have some experience in the field of your idea also so that if any problem occurs you could face it well.You will definitely get fundings.

Equity

Equity is a non cash division between the employers and the investor of a particular enterprise.Try to create an equity which has agreement from both sides.Mostly an investor tries to give lots of money as asks for more equity if the investor finds some potential in your idea but ideally there should be an equal partnerships of both investors and employers.The person who is funding gets the maximum equity.So fundings are most important to run an enterprise.

aromatzfoods

Read More

Start ups

What is a start up?

A start-up is an entrepreneurial venture which aims to meet a new market place with a different idea, basically its an idea to do your business.

starups

Requirements for startup

• Self determination
• Great product
• An efficient business plan
• Supportive team
• Investment in your startup
• A domain name
• A legal structure
• Investigate different sources and apply for your business license
• Great execution

  Why to choose startups over corporate jobs?

There are some of the valid reasons which could state that why start ups are chosen over corporate jobs.

• You will be given more job opportunities.
• You will be having the complete responsibility of your company
• You can explore yourself and could not  stay bounded in just one field
• You can be able to learn from different innovators
• Your performance will actually be recognized by every one
• Your will definitely understand the value of hard work, ownership and self sustainability
• planning in your start up could be a great contribution to you in the future.

business plans

Read More

how to built a sucessful enterprise?

Stay determined for what you really want:

when you are going to start your own business, you need to be totally committed to it and be patient because a business takes time to get established.Enough capital for worst case senarios is should always be present. Hard work, patience, customer-seller interactions, and management are some essential pillars to start a business.

Choose your business:

Mostly people make lousy choices when starting their own business.Too many people choose a particular business for the wrong reasons, such as their limited experience in it, their familiarity with someone who made a lot of money in the field, or that it seems fun and prestigious. To be sure, it doesn’t hurt that you have experience in a business, but that alone doesn’t necessarily mean it is an excellent choice.

Choose your business idea and invest an appropriate amount of capital:
After choosing a business idea, a sufficient amount of capital is must for the worst case senarios.
suppose an enterprise is not up to the and the liabilities are getting increased as compared to assests
then one should be ready to bear the loss too.your evaluation should include factors such as the state of the market, market segments, the competition, your strengths and weaknesses, and available opportunities.

A great business plan:
For running a successful enterprise a full proof business plan is mandatory.
for more details read my first blog to get a brief information about a business plan.

Marketing:
Marketing is one of the most important pillar for a business. If a business is not known public or to the company who can utilize or buy your product then there is no point for a business and at that point marketing of the product becomes very important.

• determining the need for a product through consumer research and by observing and quantifying sales patterns of similar goods in the marketplace
• Modifying existing products or creating new products to match consumer wants and needs
• Determining how best to reach potential customers to make them aware of your products and to persuade them to buy them

  
  

business plans

Read More

Does every business need a plan?

Absolutely.Every business needs an efficient plan.
Developing a detailed business plan will provide you with an opportunity 

to shape a powerful business development strategy. whether your goal is to:

1. Get financing to start a business
2. get financing to expand your business
3. Be more organized and increase your odds of success.
4. Identifying the value of your business and prepare a plan for it accordingly for your business
5. Create a plan to buy a business
6. Create a management succession plan to facilitate your retirement.
7. Revitalize your business and identify new markets and other business opportunities 
8. Reorganize to allow you more free time away from the business.
9. Try to build a proper financial plan to improve your profitability from your business.
10. Decrease your margins for error and increase profitability. 
11. Management of staff and resources is much needed for successful business plan.
12. Improve the effectiveness and management of the operations.

business plans

Read More