You need to know how to start your own business. Because with the current pandemic conditions, people are required to be able to look for business opportunities as their main income. In doing business it takes a little insight or theory to start or do it.
Not just preparing capital and knowing what business to do, there are other things that need to be prepared to start a business. Especially if you start from scratch or have no previous experience. So it is necessary to know how to start your own business in order to grow and succeed.
How to start a business from scratch to be successful quickly, you need to think of an initial idea, open, introduce, and promote the business. All of these are a lot of challenges and obstacles that will be faced by business people.
For more details, here are some ways to start your own business that you need to know:
How to Start Your Own Business
There are several ways to start a business from scratch to success that you need to know, including:
1. Prepare the Business Model to be Run
The first way to start a business is to prepare a business model that will be run. If your heart is steady, try to start thinking about what business model you will run later. You can start looking for information on business trends that are developing. Building a business can be likened to traveling. Of course you must have a purpose, reason, vehicle, accommodation preparation, alternative roads, and plans a-b-c to z.
2. Finalize the Plan
The next way to start a business is to finalize a plan. Well, previously abstract business ideas need to be made more concrete before they are actually executed. For that, you can take some of the most crucial initial steps, as follows:
a. Create a Business Plan
Write all about your business. Includes three things in the previous point, budget, revenue targets, marketing strategies, and everything else that serves as a guide so that your business can grow.
b. Calculate Capital
Calculate the initial budget to build a business, how much is the estimated operational budget needed, legalization costs, tax calculations, as well as profit targets and estimates.
c. Market Research
Analyze who will become consumers. For example, make questionnaires, surveys, and see research from official institutions. From there, you can know what innovations consumers need.
d. Get to know the Buyer Persona
Determine who your target customers are and create a real consumer profile.
e. Create a Customer Journey
Build a strategy for how each buyer persona knows your business, gets to know the brand, sees the product, and finally buys your product.
f. Measure Competitor’s Strength
Make a list of your competitors, then compare their pluses and minuses with your business. See what flaws you don’t have and fix them.
g. Find a Trusted Supplier
Make sure you work with the best suppliers to supply raw materials for your products or services. For example, in terms of price, quality of goods, speed and accuracy of supply, etc.
h. Create Production Flow
From raw materials to services or ready-to-sell products, it must have a clear and concise flow.
i. Promotion Plan
Create a marketing plan so that you can easily develop marketing strategies in the future.
j. Set Target
Both in the short, medium and long term. The goal is that your business has a main goal and is not stuck when one target is met.
3. Maximizing Branding
The next way to start a business is to maximize branding. The most effective initial strategy is to go online. Because offline consumers will search for products online before making a purchase. This method also aims to make the buyer persona familiar with your business presence. This can be done in several ways, namely:
a. Build Brand Identity
Create distinctive and memorable logos, typography, dominant colors, visual templates, and website designs.
b. Create Website
Websites can increase consumer trust, become a transaction center/online store, press release media, customer support facilities, marketing and branding media, and product storefronts.
c. Optimize Social Media
Create official business accounts on various social media. Like Instagram, Facebook, Twitter, LinkedIn, Tik Tok, etc. This is useful when you later enter the marketing stage.
d. Integrate into Ecommerce Account
So that your products will be easily reached by consumers, integrate all social media accounts and websites into e-commerce. Like, Tokopedia, Shopee, Lazada, and others.
The next way to start a business, you can start the production stage. There are several things to note, namely:
a. Set product or service quality standards. For example, basic materials, composition, product advantages, models, etc.;
b. Determine suppliers, vendors, and other stakeholders to realize product ideas;
c. Start production for product launch and at least stock for the first month. Also consider back-up production in case of successful product launch;
d. Fix the website. Such as setting up online store platforms, payment gateways, website themes, creating landing pages, SEO, etc.;
e. More active in all promotional media. Intensify promotions, brand awareness, schedule launches, etc.;
5. Launch Marketing Strategy
Marketing is a way to introduce products to potential customers. The hope is, not only to know, but also to be familiar and become customers. There are various ways to promote your business. One of them with social media. In addition to social media, you can also maximize digital marketing. Like, Google My Business, official email, SEO, SEM, etc.