Working from 9 to 5 will make everyone bored one day. So people start choosing some other ways to earn money instead of going to a job. Some start filming YouTube videos, others do blogging, but those ready for challenges start their own business. But not all of them become successful, says celebrated Astro Strategist™ cum Business Astrologer™ Hirav Shah.
HIrav says, “Regardless of what you look like at it, beginning a business is hard. Perhaps the hardest thing you may at any point need to do. There’s the business intent to thoroughly consider, a name, government policies to consider, what it will mean for your family, accounts and the rundown moves on from that point. Some hardened entrepreneurs propose spending quite a while considering if that is actually the way you need to take. Assuming that this is true, there is a lot of advice floating around to assist you with the overwhelming excursion. Entrepreneurs are continually able to lend their words to the more youthful generation of business searchers and give them assistance when the opportunity arrives. Underneath we have asked entrepreneurs for their best business advice.”
If you want to make your company profitable, according to Hirav Shah, follow these easy tips.
Choose a Direction
In fact, this is far from an easy question. Most people find it very difficult to make a choice when there are too many to select from. And there really are a lot of directions in business. It’s clear that you can immediately reject some of them as unsuitable, but even after that, there are many alternatives to choose from.
So, make a list of ten areas in which you would be close to the interests or skills. And then analyze each, sifting out the less suitable ones.
What’s all this for? It will help you succeed in the future. It’s no secret that if you do something you’re not interested in, your efficiency will be several times lower.
Moreover, to get the maximum benefit, you need to organize a quality service, to work on details and minutiae; only in this way, users will appreciate what you offer them. And if you have to do all this by force, then there’s no quality to speak of. And what will be the difference from working for hire?
Create a Clear Business Plan
You should memorize that starting your own business “in the heat of the moment” is the surest way to burn. Therefore, only a clear business plan, a well-thought-out idea. Of course, there are a number of businessmen who at one time did without it.
Here it was more likely luck, and entrepreneurial flair played in favour of these lucky people. It is also obvious that it is not possible to provide for absolutely everything. However, a business plan will help you calculate the chances and opportunities, and calculate the pitfalls that are sure to appear.
Much Attention Should Be Paid to Product and Marketing
Again, many would say that, with the right approach, you can sell anything. There is some truth in this. However, only a few can do this.
The young entrepreneur should be responsible for the quality of products and, of course, to promote his idea, to bring it to buyers. In the initial stages, you will have to invest a lot of effort and money in advertising.
Never Start Your Business With Relatives
The most common mistake is to hire relatives (beloved wife, brother of her husband, her father, nephew, and so on). In the initial stages, a joint business may indeed bring pleasure and income.
But any difficult situation will lead to a clash between the manager and the subordinate. As a result, either the business or the relationship with a loved one will suffer. This is why it is better to keep relatives away from your business.
Work Only With Real Clients
If you tell and offer the product only to your relatives, it will lead to nothing. It is necessary to work with a live audience, learn their opinion about the product and, if necessary, adjust it. You can try out your product on special professional forums or on social networks.
Planning Your Time
Each day should be clearly planned. It is worth making a habit of keeping a daily planner. In this case, you should give priority not only to business meetings but also to rest, communication with family, sports and so on.
Entrepreneurs often go headlong into business so that there is no time for rest or for family. This most often leads to physical and psychological exhaustion, nervous breakdowns and damaged relationships in the family.
Every Business Needs Time
Businessmen should understand that not a single business has not started to bring income immediately, literally from the first month of work. Depending on the specifics, every product needs promotion. If the entrepreneur works properly, qualitatively, sooner or later, his idea will begin to bring income.
Hire Qualified Employees
Of course, the business consists not only of the head but also of his subordinates, numerous employees. And here it is worth giving preference only to qualified specialists who know their business.
Some entrepreneurs mistakenly hire young workers (without proper experience) because their main goal is to save more money. It’s true that a skilled worker will ask for more, but he will be able to work off every penny of his salary.
Find a Mentor
The mentor is an experienced entrepreneur with an unbiased perspective. The mentor will see weaknesses, help prevent mistakes, and suggest opportunities for growth that aspiring entrepreneurs miss out on. Look for a mentor-practitioner with experience in your field. It seems silly to grow a competitor, but it’s not. Businessmen are happy to share knowledge with their peers.
Make a Statement
An extra motivation item for the desperate people. Post on your social media about your goal to open a business by a certain date. Fear of public failure and the interest of people you know will help you move forward.
Every Customer Counts
It doesn’t matter if it’s a wholesaler or a retail customer. Each client should be treated with respect. Later on, when developing, the entrepreneur will be able to choose and give preference to the most profitable partners, but even in this case, you can’t forget about respect.
Not Worth to Refuse a Permanent Job in the Initial Stages
The last piece of advice is that even if a person has already launched his business, it is better for him to refrain from hastily quitting his permanent job. The main reason is that a job for hire will provide the aspiring businessman with a regular income.
Hirav Shah concludes by saying, “Marketing and Sales is the most important skill in business. Many entrepreneurs have even claimed that 60% of your success comes from marketing. Many people, unfortunately, are not trained in these skills. Putting in effort and time in building this skill can be extremely rewarding to the budding entrepreneurs.“