How to Start a Business :

How to Start Business

Every 3^rd person in India wants to start their own business, but 90%of them didn’t start because of various reasons. Today, in this article we will discuss what all things you need to do when you are planning to start a business. Starting a business is very easy but we calls a  person the real entrepreneur when they sustain their business in long run. We all know the fact that 50%of business fails in their first 2 years and other 20% fails within 5 years and remaining 10% able to survive and flourish like anything.

There are so many reasons why any business fails. Family, Friends and Relatives plays a very important role here, what you need to do is to ignore all their shit talks and advises. We take advises from people who never did any business in their life time. Very strictly speaking, doing business is not a cup of tea for all. Specifically, if you are into job (government/private) not only you stop yourself to start something new but you also stop others who want to take calculated risk to start any sort of business. Avoid such crap and focus on your goals which you want to meet in your career.

Ironically, in India it is really a matter of perception and concern that what people ask to a person if he/she want to start a business is “Why you want to start a business”?  If we see the scenario of other countries what people ask is “What business you want to start”? 

When we start focusing on “what” we will find the answers of “Why” and “How” as well in the process. Doing business is a like playing game, you put all your energy, resources, strategies, knowledge and tactics to survive and sustain growth by providing solutions to customers for their business related problems!

I have broken the process into points, what all things you need to consider and practice while starting your business:

1.       Need an idea:

All this start with an idea by analyzing problems in the society and you give the best possible solution to such problems, this is how you contributes in upgrading life style of people. Thinking is a continuous process what we are missing is the great ideas which comes in our mind while thinking but let them go as they comes in, so it is suggested when you feel like you got a good idea just write it down on paper. Let’s understand it in steps:

a.      Observe things around you.

b.      Understand the thought process of people around you.

c.       Do research about market, people etc by going into the field and use internet as well.

d.      Collect information and process i.e. certifications, licenses, government policies, laws etc.

e.       Process all your ideas and find the one with which you want to go ahead.

f.        Discuss your ideas with people who are into business fraternity.

g.      Focus on why you want to work on the particular idea.

h.      When you deal with “Why” then think on “How” you are going to do it.

i.         Now prepare a layout and ignite things with experiments and testing.

This is how you process information and confirm on your idea on which you want to work. This needs a rigorous study and focus. Once you did this right things become pretty easier further.

2.       Change the Herd Mentality:

It is one of the biggest challenges which one needs to overcome. The fact of the matter here is we surrounded by people and who constantly give advises to the person who wants to start business. Most of these people are your family, friends and relative, acquaintances and nearby. Understand one thing what is their experiences to any situation doesn’t same for you, might be you can handle things in a better way than them. It is one of the primaries set back to the person because in our society people judge you like fool when you are doing something different from them.

I suggest you don’t loss your energy in all such bullshit and just keep your all energies and thoughts towards your goals and vision otherwise you will take yourself into an adverse situation.

3.       Think Big:

Once you follow the above two steps then it’s time to think how big you can think for your idea, the way you visualize you make it happen. How you think big! It is big question so here is your answer just read books on business, entrepreneurship, polices, law, politics, consumer behavior, psychology etc. Depends on what kind of problem you get stuck find the book and read it. Associate with people who are doing well in their business and learn from them the art of thinking big, in this world of social media you have an ample amount of opportunities to find out people who help you with this. “Believe in winning and winning big”.

4.       Do your Best and prepare for the Worst:

In your starting days as an entrepreneur, you have to deal with lots of uncertainties, sometimes need to take risk beyond your capacities, many a times you have to take decisions based on your instinct, guts and confidence. Most of the times you deal with many non recurring problems with limited resources, but you need to understand all this situations will be temporary and once you know how to deal with them in future this will become recurring one. Have self-confidence and just keep aside all your fears and take decisions. Do whatever you are doing with your full potential and just prepare mentally for the worst.

“In business you find problems always greater than you’re solving capacity, but the fact of the matter is you defined your capacity based on your earlier experiences. The more you deal with problems bigger than your capacity the more you become mature and equipped with the skills which people think impossible to achieve and consider them  as business tactics which only business persons have”.

5.       Built Good Team:

Business is never be a one person show, to make it big you need team who work with you in the way you work. Now, as an n owner you need to find talent of people and use it to the most of their potential and offer them job satisfaction by job enrichment and job enlargement. Focus on retention of your employees mostly on the top and middle level because they will filter the candidates on operation levels and prepare future asset for your company.

“You need to create duplicates of yours and ask them to create their duplicates and this is how the game of creative team building in long-term”.

6.       Focus in Sales from day one:

This is very important to run the system called business you need money and hence end of the day money matters. Initially, put most focus on how to improve your sales by equipping your sales team with the necessary sales kits and skill-sets to do sales effectively.

“Inflow of money gives you confidence and huge amount of opportunities to take strong and risky decisions.”

7.       Find a Mentor:

Now this is tricky one, finding a mentor is really very crucial because their all lot of people who give useless advises and wants to follow them too. Qualities you should check in a mentor are:

a.      How much successful they are in their business?

b.      Did he/she upgrade with the latest market updates & competition?

c.       Do they have any track record as a mentor? If yes, study it.

d.      Is your mentor understands vision, mission of your business?

e.       How much your mentor did know your capabilities and weaknesses?

These are some of the questions you need to answer before confirming the person as your mentor. One lesson which I learn is “Never hire a consultant for your business” there is a very big difference between a consultant and a mentor.  

8.       Never take you Health for granted:

In all this efforts we take least care of one thing that is our food and health. Take health food, proper sleep when you can, find time for fun too, do exercise and bit of meditation regularly. Stay fit keeps you cool and enthusiastic to work more. Healthy mind and body deliver effective and efficient results. Also with this keep balance in your personal life as well.

9.       Never Give up:

Every entrepreneur in the world have this thought of giving up every day, but the reason they call as Entrepreneurs and Business Giants/ Tycoons because they never give up even if odds are against them, always speaks truth with self and other, they have courage of taking risk, nothing is working as they plan, everyone around then distrust them, disgrace them, humiliate them but they stood up with their idea and dream to convert it into reality.

“You have this option of giving up at any moment in your life but think when you have this thought in mind that what are the reasons make you to start the business and motivate yourself and start fresh all time in creative and innovative ways you can”.

 

10.   It’s Action Time:

All this will happen only when you take action consistently and constantly, without distrust on your selves and your idea. Remember, if you won’t believe in your idea, products or services no one else will. Your action speaks louder than words. Running business is an art and bit of science once you expertise this you can manage many number of businesses you want to.  Keep all your excuses aside and take action.

“Whatever situation you are in now, if you have any idea, it is best time to start working on it. If you never try it you never have it.”

Hope you got the point which I make you understand. Implement this and I assure you that you can do anything in your life. I suggest you to try hands and start business from small and step-by-step deal with things and achieve success which leads you to financial freedom first and second you will be in place to serve society in a way you are best in. Here are my best wishes go and start your own business and I must say you will never regret in life. If you need any guidance or help you can drop me an email and I will respond you with the solution.

If you have any suggestions or your story to share please share it in comment section and help people to learn and get inspired by your story.