No tags yet.
Many people want to get into business, start something new, start their own startup, many people want to do something big, make a big leap. But friends, notice that the journey begins hundreds of miles away.
The baby crawls first, then walks, and then runs. Business is the same. Start slowly first and then take the big leap, here are some tips for all beginners-
1. * Exactly what problem you are solving for customers * The most important step in starting any business is to identify the exact problem of the customer. Only then can you provide a solution to your customers through your business. If you are getting into a market where your competitors already answer the customer's problems, then think about what changes you can make to the products available in the market, what can be done easily, what can be done cheaply, what can be done better, or how to maximize their utility.
2. * Study the market you are about to land in * When Maggie, Kellogg's, Gillette came to India, they had no response. These products, which are widely used abroad, did not work in India. Because each market is different. The products of these companies were adopted by the Indian consumers when they made changes in the products and marketing according to the Indian market. Even in India, each state is a different market, cities and villages have different markets in each state. So study exactly which market you are in. Only if you study what the likes, habits, preferences, questions of the customers are there, you can determine if your product is suitable for the customer. And accordingly, appropriate changes can be made.
3. * Test your product or business idea * It is important to test before bringing the product to market. Some people will like Business Ideas Some people won't like it. Examine the response of those who do not like it. They have given you valuable information. Use them to make the right changes to the product and then launch the product.
4. * Learn to React * Tell strangers, or even people in different fields, about your product or business idea. Their way of thinking will be different and you will get some reactions that your customers will not get.
5 * Select the Right Market * Now you are ready to launch the business. But as I said earlier, start small. Find a small market and see if you can win it, then move on to the next smaller market. Don't go to product launches in new cities in new cities right away.
6 * The Mosquito Team * Don't raise too many teams, even if you have money. In the beginning, keep insisting that everyone should do everything. You might think that the job assigned to the right person for each task will change, but that doesn't actually happen. The more men you have, the more communication problems you'll find.
7 * Emphasis on working efficiency * Do not increase all three Ms until your machines, manpower and material are fully utilized. As long as all three Ms are not used up to 80%, there is potential for improvement. If you use this rule, your money will never be wasted.
Remember that doing business big, and making a business profitable are two different things. Unless there is a good reason, don't go back to growing a business. Investors, guides, good product, efficient operations and good team build first then take steps towards expanding your business.