How to Start a New Business?

Sick of people bossing you around? Do not like the work timings? Your boss is a pain? You have colleagues that you cannot stand? What are you waiting for? Just say the magic words, “I QUIT”. See how easy that was, problem solved in no time. You can thank me later.

 Now what? Hey do not blame me for losing your job, it is not my fault you did not think it through before quitting. Uh alright, I feel a little guilty. I will help you with this new crisis that I am partially responsible for.

Since you do not like working for someone, you can start your own business. I will tell you what you got to do in order to set up a new business and how to run it. Let’s get started.

 

Plan-It-Perfect:

Planning is very crucial. Assess yourself, stuff you are interested in, stuff you (at least) know a thing or two about. Imagine if a doctor set up a computer hardware store. He will have to rely on someone to run the place. And that someone can easily manipulate our oblivious doctor.

Be very careful while choosing the location for your business. If you set up your hardware store on the top floor of a plaza full of hardware stores, better book yourself a room in the Arkham Asylum as well. So be very careful while planning. E-business is a different story.

Socialize:

How you think Vito Corleone, an olive oil importer, became Don Corleone? How you think Pablo Escobar, a small-time drug dealer, built his cartel? Their social circuit, that’s the answer. They surrounded themselves with the “right” people. People who could benefit their “business”. 

The point is, socialise. Make links, befriend people who can help you with your business. Choose them wisely, there are people who could bring your business harm instead of a benefit. So be very careful.

Legality:

I saw something really shocking the other day. A businessman, whom I know personally, with very good reputation, was getting arrested. Apparently, he had no clue about the thing called “Value Added Tax (VAT)”.

If you do not want to be in such embarrassing situation, start reading about the legal obligations of a business man, things related to Vat Return, tax and stuff.

Advertise:

You provide the best computer hardware in the whole city and that too at a fair price, yet you are not getting any customers. That’s because you did not spread the word out. You have to advertise your business like crazy.

There are many ways to advertise your business. Keep your customer type in mind while choosing the type of advertisement.

I hope you are not thinking of going back to your old boss and plead him to give you the job back. Starting a new business is not easy, but once you have cleared the rough patch, it gets a lot comfortable.

Plan it right, build connections, there are companies like the Abell Morliss International, that can help you with your financial matters and save you a headache.

One more thing, once you are the boss, do not do things that you hated in your boss or your employees will seek help from someone like me. Good Luck!