how to starts any business

How to starts any business

how to start any business

how to start business

 In 1993 my father left his job and starts his own business he was excellent in his work so he arranged some money and start his own business and he was doing good and making good profits but he didn’t understand the way of growing and make more money.

 After 2 year he got stuck in his work because he was doing everything he didn’t understand that if he wants to be successful in his business so he need to learn how manage business but he failed then he suffer with big loss which make him bankrupted.

My father didn’t understand the rule of making money he always thinks about save money. My father hire less employs to save money he didn’t know anything about marketing but he did it by himself he never understand he should handle one thing at a time.

 when he was doing marketing who know that employs were working or not and sometime when he was on marketing his cousins and friends who started same product factory as a competitors they take away his machines for many hours and his employ didn’t do any work because they have know machine.

That’s how I learn from my father if we want success in our business then we need a partner or team.  One person does marketing and manages money transactions and the second does manage the productivity and when you feel your business is grow now then hire responsible team to achieve more growth.

Mind sets of people about business

On basis of many researches expert say 90% of businesses fail in first 5 years of starting and that’s true and the biggest problems with people think they are fully educated they have MBA degrees but still they didn’t understand power of business because they could not run any business if you don’t learn the basics of starting business.

I will show you the region why these 90% people faced the failure,

30% people are face failure because they want to make quick money and in the rapacity of money people take wrong decision and they failed

50% people are failed due to fear of failure they never even attempt the exam and the biggest region behind of people fears that is they just think and ask others who also don’t know about the business but they are always ready to give you advises. 

 People never think about how they achieve the success in business if they don’t learn from any successful person who start from small and get big success. If you don’t learn you don’t earn

10% of people who learn everything and start the business and invest a lot of money in starting they invest all money in one business at the beginning this is the biggest mistake never invest everything in starting.

 when the business got little unbalance then you go to take loans from banks from family relatives and friends after few time they also ignore and your business never grow and finally you just shut down the business with heavy loss of money.

Common mistakes by businessman’s

Most of time when your business is growing and your productivity also good and you sell your product to retailer or wholesalers they take a time to pay you many retailers are take more than 30 day. 

They blocked your money for at least 30 days and your productivity cost are increasing and you don’t have money for your employs, bills and rent and many more thing this is the biggest region of people why they fail.

When your business is grow and you think about to expansion it at that time your team quits your company and join your competitor company and sometimes they become your competitor and they harm your business because they know your business strategies.

Now a day in every business has a competitors and you also start that business where so much of competitor are already struggling and you are giving big discounts for sale but due to competitors you cannot survive so long and suffer with loss of money and after few month you shut down your business.

If your business is running well but your productivity speed is slow and you still don’t take any actions in management and you don’t change you employs which are making your business speed slow and you are not engaging with your employs and they don’t do work nicely behind you then you should take some strict actions because if this will affect your whole business process.

Most of time you don’t know how to do low cost marketing you give high paid ads on t.v., newspapers and you don’t know any kind of low cost ideas for promoting your business. this will Increase your cost and it will affect your sales.

These are the basic fundamentals you should learn before starting any business

How to make successful business

 When you think about start a business the most important think is make proper plan about budget,  how to hire manpower, which steps to grow our business, how to make customer loyal with us and many more things do research properly and start with plan,   

Every businessman think about how he can get profits they never thing about how we can satisfied our customers how we can give more value our customers in low price. 

Think first about your customer if you give your customer good experience then your customer always loyal with and you never lose any customer. Your customer promotes your business with his family and friends.

If you have customer then think what they need

                                                            If you fulfill customer needs then you are next milliner

High performing team or employ if you have a high potential and high skill employed or team then you will be getting successful in your business. You have to hire highly capable manpower. You have to think do you have most talented manpower who execute you ideas easily and doing their work with energy if you don’t have these kinds of people then trained them, engage with your employ give them motivation.

 In Every 15 day you have to identify which product are you perfect product and which are imperfect product. Make a product plan and identify which market good you products and then sell the product. Identify which market wants which type of products if you interact with your high prices products with those people who cannot afford them then you are wasting your time.

Make you product timing, don’t be last be first stand with trend if you releasing your product as a laggard then you will face loss. If you sell colours at season of diwali then who will be going to buy your product i mean always analysis your product market and go with trends  

Always listen you complaint, receive complaints as a gift if you don’t listen your complaints then how would you know where are you making mistakes. Always take complaints as compliment and solve them if you ignore complaint then your customer run away to your competitors.