HOW TO START A BUSINESS
4 PRINCIPLES TO SETUP A SUCCESSFUL BUSINESS
Most people think that starting up a business or being an entrepreneur is very difficult because it requires lots of money, needs lots of hard work, we need to take financial risks and we also have to leave jobs or studies. Which is not possible for everyone to do it then how to start a business?
But the thing is that the above-stated statements are not true.
The problem is many times when people think of doing or establishing a business, they think of establishing a billion dollars of business like Ratan Tata, Elon Musk, Bill Gates, Dhirubhai Ambani, etc.
But you don’t need to do that because you are a beginner.
Actually it will be better to start a small side-business which will be profitable and sustainable, which will help you by generating a good extra income and this will be very easy and convenient option which requires very less or no investment and can work without creating a need to leave your current Job or Studies or whatever you are currently busy with.
So, that will help you but to boost your success rate you have to follow some core principles that are :
• Identify And experiment with your own problems.
• Focus maximum on the core.
• Fight Passionately
• Use Less but Best
These are 4 main principles which we are going to study to know –
how to start a business without investment.
1. Identify And experiment with your own problems :
There are many problems everyone faces but many of them turn them into opportunities and so as you need to do!
Here is the answer,
Note your daily problems and find a way to convert your problems into a perfect product to sell it.
Your main aim should be to solve real problems.
Mostly focus on solving your own problems rather than solving others.
Because you can understand your own problems better than others. Which will make you take faster & accurate decisions to upgrade or build own products.
Understanding other’s problems is like finding away in a dark unknown area.
2. Focus maximum on core :
First of all, let’s understand what is the core here.
Think if you want to start-up a Cake shop business. Then you have to see that to start-up this business idea, What are the things that are very important without which the business is not possible.
A good display store space?
Skilled good employees or any other thing? what?
Well, obviously it is your product that is your delicious Cakes because no matter you have a proper display shop or many employees,
The people will only approach you if you make the best cakes in the market.
So here the ‘Cake’ will be a core of your business, On which you have to put maximum focus to maintain the quality & quantity of your product at initial stages.
Many people distract their focus from core objects to other unnecessary things and waste their own time, money and energy on other useless things which is not a good play.
That means you have to start ignoring ‘NICE TO HAVE’ things and start working on ‘MUST TO HAVE’ things.
NICE TO HAVE
|OWN GOOD OFFICE||USING SHARED OFFICE|
|LOTS OF EMPLOYEES||LESS BUT VERY PRODUCTIVE EMPLOYEES|
|CUSTOMER SERVICE TEAM||SELF ATTENDING THE CUSTOMER QUERIES|
NICE TO HAVE
|HAVING A DEGREE||LEARNING FROM GOOGLE/YOU TUBE|
|QUITTING JOB & THEN STARTING A BUSINESS||SPARING SOMETIME BY SLEEPING LESS, SPENDING LESS TIME ON SOCIAL MEDIA & ENTERTAINMENT AND THEN START A BUSINESS WITHOUT QUITTING THE JOB|
|GETTING INVESTMENTS FROM OTHERS||SITTING AT HOME CREATING GOOD THINGS FROM CHEAP SOURCES|
The main thing nowadays getting things done is a lot easier because of today’s technologies.
This means the things which were impossible to do in the past are now easy and free to do with computers.
So ask yourself, In fact, make a note on what are the important things you need and then observe them carefully and think what are the things really required to you or you can opt for any other cheap/free alternative and start your business.
when I was curious and excited about blogging on the blog site. I would have thought that I don’t know anything about website/web development or blogging. So let’s join a web development course which was priced at around 15-20,000 rs or more. And after spending that much money I might be able to establish my own blog site or blog website.
But I did not do that because I was knowing that there is some core thing in my idea which was content writing.
So I just started to search my technical queries on google and YouTube regarding establishing blog sites, I met many I.T Professionals and Web Designers to find out an opportunity to work with them and learn the things with practices for free.
And then I invested my money only in buying a Domain name for my blog site that is SUPERSAVY.COM
And started to focus on writing good content and still practicing on it. so as to know about how to start a business online in India.
3. Fight Passionately :
After you solve you’re your problems with the cheaper and best solution and start your business.
The next question will arise in your mind is that how will you stand different from the crowd of competitors, by which people will get attracted to you.
Well there is a good type of action you need to take is that taking a fight with competitors
Not by showing people ‘how better you are from others’ rather than showing people ‘how you are not like others (competitors)’.
‘AUDI’ a car manufacturing company market their cars Anti-Old Luxury cars and make fun of the competitors – LEXUS and MERCEDES Benz cars by advertisements and tell people that ‘It’s Not Like Them’.
7up is Pepsi Co company’s drink and their marketing Tagline is – “ We don’t know and it’s cool”
This was indirectly challenging to the – SPRITE drinks from Coca-cola company whose Tagline is “Clear Hai”.
So as you need to be..!!
Many companies fight with each other, why?
Because they know that people like taking interest in anyone side and when people choose a side then they automatically get emotionally attached to those things.
So as when you also believe in anything and you confidently adapt and promote it and When you will challenge the brand that you don’t believe in, Then that people who think like you will come together to support you and will also use your brand.
4. Use Less but Best :
Have you ever wondered that OXFORD, CAMBRIDGE, or HARVARD Universities that are said to be the best universities in the world,
In spite of being so much successful why they don’t open their branches in various other countries? because the students study there are coming from all over the world. And establishing branches would not be hard for them but still, they don’t do that, why?
Well because they know that “Its Good To Fight With Less”.
That means they know that if they establish their branches in different countries then it will be hard to maintain the quality and impact of their educational service and the local universities of that country will be high competition for them.
If you observe many of the business persons keep competing with numbers they think to have more things is to have good things like – more employees, big offices, more features in products, etc. they think the more variety of products they offer will benefit their sales and growth.
But experts say that this is all irrelevant things.
the author of the book ‘REWORK’ who is an entrepreneur and has established billion dollars software company named BASE CAMP sharing their own experience, says where they were living there were two coffee shops.
One coffee shop was very stylish and they were offering a variety of coffee in there menu and the other coffee shop was very simple and offers only 4 types of traditional coffees.
At first when the author went to the coffee shop where they were offering various types of coffees their menu was full of unknown options which were creating confusion in the customer’s minds.
So there many times the author was also getting confused while looking at the menu. And after trying all the coffees the author was not satisfied because the quality was not that great.
When they visited another coffee shop which was very simple type and which were offered only 4 types of coffees the author was able to easily make a choice, But over that the good thing was the quality of the coffee was very great.
Why ? how?
Because they were focusing on very fewer items and mastering them only. This results in the satisfaction of customers and maintaining the loyalty of them too.
The businessman nowadays tries to offer more features and varieties of products than their competitors and lose their focus from the main product quality which again results in low-quality products. And keeps on competing with each other. This results in decreasing customer loyalty and value.
APPLE iPhone vs ANDROID Phone.
Apple here offers very low variety and features of phones compared to Android Phones. But still, people buy the iPhone without any hesitation why?
Because they might be offering you fewer features or only a few varieties but they are not compromising the QUALITY and SECURITY of their phones at any cost. Which is the core of the product the customer is in search of?
Which is always compromised by the android phones manufacturing companies. They may offer feature pack phones in budget prices but they also make you insecure. Which decreases the loyalty and belief of customers day by day.
So as rather than if they focus on fewer things and provide anyone product but with the Best quality than their success rate will start increasing. And following these things only makes the business strong enough to fight with your competitors and survive in today’s CUT-THROAT competitions.
And you also need to start to compete with less but best products which will result in savings of money, High-profit gains and Faster Growth of Business.
So I hope these 4 Principles on how to start a business will help you and Boost your Success rate and will guide you to know how to start a business without investment.
Thank you for visiting our blog stay connected with us do comment on your feedback, requests, and suggestions in the comment box I hope this article gave answers about HOW TO START A BUSINESS.
And do let us know if this blog helped you in the success of your business.