Don't let all the difficulties in running a business stop you from starting your business.
Don't even let those who have failed in their businesses discourage you from making money and succeed in the business world.
Let this article be a great encouragement to you at this moment, it doesn't matter whether you are now thinking of starting a business, in the process of starting your business or you are already in your own business.
Though it is not that easy to start a business, because there are so many things you need to do before you can really make money and succeed in business.
However, I sincerely believe you will make money and succeed when you are running your own business.
It is because I also believe the moment you decided to start your own business, you already have a very strong determination to succeed in the business world.
The most important thing you need to do now is - read this article seriously many times to make sure you really do one very important thing - a good preparation before you start running your business.
The first thing is to make sure you are truly well-prepared and you really know how to make money and succeed in this intense competitive world market.
The second thing is to make sure you are very confident in running your business and you truly know how to prevent earlier failure in business that is so common in the business world.
Moreover, any moment you feel discouraged when you are running your business, always remember to come back and read this article, it will inspire you and help you regain your self-confident, you will move on confidently until you really make money and succeed in your own business.
Here are the Three Important Steps that I believe they will help you tremendously when you are doing your preparation before you start running your business.
Step One: Preparation
1. Business documentation, accounting and taxes
Get a professional accountant to help you in business documentation, accounting and taxes. It will save you time and effort, so that you can immediately focus on business development to bring in profits into your new business.
2. Focus on one business at a time and make it a great success
Don't be a jack of all trades, starting many businesses before you really make money and succeed in your first business. You can start another business if you want when you really make money and succeed in your first business.
3. Do your market research before you start your business.
Don't simply start a business just because you think your new product or services can make money in this world market. Seriously put in your time and effort in doing your market research and know precisely whether there is a potential for you to really make money with your new product or services.
4. Get your success master plan ready
Write down your business vision in your success master plan and put in more details on how you want to succeed in business. Read your success master plan regularly and know your daily progress until you really make money and succeed as what you have written in your success master plan.
5. Learn and be a master in selling and marketing
Don't start a business until you really know how to sell and market your business ideas, your products or services. Selling and marketing are the two main business activities that will bring in profits into your business.
You have to sell your business ideas, products or services to those who joined you and they are helping you in your business - your sales personals, your distributors and traders. You also have to train them and guide them in the selling and marketing of your business ideas, products and services to the consumers and businesses.
6. Create an effective business system
It will minimise your daily work pressure and stress in running the business. It will also make sure the business work flow is always stable and consistent and you truly give the best standard of services to the consumers. You may also franchise your business to expand your business market.
Make sure everyone in your business organization seriously follow your business system and they truly understand the benefits for them when they follow the system, whether it is a simple checklist or work flow chart and monitoring system. New employee will easily take over the work should someone suddenly leaves your organization. Keep on improving your system to meet the growing demand of the consumers as your business grow and expand in the market.
7. Keep a business capital reserve in your new business
It does not matter how much business capital you have raised for your new business, but keep a capital reserve for two years' business fixed expenses, because you may not make a profit in the first two years. This will enable you to focus on business development without financial worry until you really make a profit in the business.
8. Always be a major shareholder in your own business
Remember to keep at least 60% of your business shares and always be a major shareholder in your own business. Don't oversell your business shares in the market if you are using your business shares as an exchange for raising your business capital. Otherwise, even though you are the founder of the business but you will easily lose your post as the CEO - Chief Executive Officer in your own business.
9. Maintain a good physical health condition
Daily exercise, having a good sleep every night and eating a balance diet everyday to make sure your physical health is always in good condition. You will then able to focus on your daily business activity, leading a team of people to really make money and succeed in this intense competitive world market.