6 Must-Do Things Before You Start a Business
Have you been thinking about starting your own business? Maybe you have a good idea and are wondering if you could make a business out of it? Here are 6 must-do things before you start a business:
1. Clearly define your business idea
You need to define your business idea with clarity and also be able to succinctly articulate it.
2. Know your mission
What is the mission of your business going to be?
3. Examine your motives
Make sure that you have a passion for owning a business and for this particular business.
4. Be willing to commit
Be very clear about the commitment to yourself. You are going to have to commit to the hours, discipline, continuous learning and the frustrations of owning your own business.
5. Conduct a competitive analysis in your market
Include products, prices, promotions, advertising, distribution, quality, service, and be aware of the outside influences that affect your business. Tools like Porters 5 Forces are useful to map the market forces
6. Seek help
Seek help from other small businesses, vendors, professionals, government agencies, employees, trade associations and trade shows. Be alert & ask questions,
Over to you now. Any other must-do things we should add to our list for people thinking of starting a business? Tell us in the comments below.
Source: business-achievers.com
