How to Start Your Business from Scratch
Why is it better for beginners to open a business from scratch?
Dear readers, this section of the article is very important! I sincerely advise you to study it carefully. I guarantee that you will not regret it. Here, the key points for opening a business for beginners from the point of view of the psychology of entrepreneurship will be explained.
Before you start a new project, be sure to consider the reasons for your desire. Understand yourself and your motivation to open a business, and my little test, composed in the form of two blocks of different beliefs will help you in this.
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With which thoughts DO NOT open your business:
- How would I make a lot faster to pay off my debts?
- The idea that I have in my head will definitely work, but I need money to carry it out;
- Am I worse than the others? Here is my neighbor doing business and I will also succeed;
- I’m tired of these chiefs-fools, tomorrow I quit and open my business!
- Yes, friends, business – it’s more psychology than technology.
And, on the contrary, you are READY to start a business, if you think so:
- I am very good at making a market demand for the market and on its basis I want to open my own business;
- I realize that at the beginning big investments in business are very risky, and only free money I can invest in business, but I will not borrow it, since the risk of losing money without experience in business is very high;
- Its business requires a lot of time, and in order to develop it I should have a cash reserve or a source of income, until my project will bring a tangible income;
- Having started my business, I will no longer have supervisors and supervisors who have guided me in my work and I need to become a fairly organized person right now to act independently and to achieve success in entrepreneurship.
If you are dominated by beliefs from block number 1, do not rush into a fight. After all, most likely, such judgments indicate the emotionality of your decisions and underestimate the risks that arise when you open your business.
The beliefs that prevail in your head from block number 2 indicate that you are fully aware of what a business is and are going to responsibly approach its launch and further development.
Above we already wrote that business is basically psychology and only then – technology. It’s time to explain why this is so.
The thing is that our internal “cockroaches” and delusions prevent us from starting our project.
Here are just some of the myths that hinder the beginning of successful projects:
- Without money and connections you cannot open business;
- Taxes will devour all profits;
- Bandits will take away my business;
- do not have a “commercial vein.”
Surely, you know all these fears of newcomers. In fact, if you overcome these fears, or rather just simply score and do not think about all this crap, then your chances of success will grow MULTIPLE!
How to start your business from scratch and not go broke – 10 iron rules:
- Never take loans to start a business if you do not have experience;
- Before opening a business, remove the “rose-colored glasses” and ask yourself the question: “What will I lose in case of failure” ?;
- Be prepared for different variants of the development of events, consider both an optimistic scenario and a pessimistic scenario;
- Do not open a business for money intended for other strategic purposes in your life (education of children, payments on loans, medical treatment, etc.);
- Thoroughly study the market and its capabilities, that is, the resources available for you to start your own business;
- Do not mess with incomprehensible or “super-profitable” projects, for which serious investments are required;
- If possible, talk with experienced entrepreneurs who are successful in business and take note of their advice;
- Start a business in a familiar area;
- Plan forthcoming actions in writing and clearly formulate each stage that you have to go through to achieve the goal;
- Be optimistic and do not stop at the first difficulties!
Step 1. Determine your business value
Step 2. Analyze the market and choose a niche for the future project
Step 3. Determine the positioning of your business and make a Unique Trade Proposal
Step 4. Draw up an action plan (business plan)
Step 5. Advertise your project and find the first customers
Step 6. Start the business, earn the first money and form the brand
Step 7. Analyze the results and expand the project