When you start a new business, you need to consider and implement so many things. For example, “Who will be the target customer” “What products will be offered” “What will be done with the revenue model” “What will be done with the funds” “What will the members do” “How can I get approval from my boss?” Etc.
It will vary depending on the position and situation, so there is no end to counting. So, here are a few tips for starting a new business.
Try To Keep Your Business as Simple As Possible
If you already have value (product), you can do anything by hand, so if you start selling it to your customers, you can start a new business today.
The first major goal of a new business is to find a business model that fits the target market. This state is called Product / Market Fit. In short, it has been proven with a track record that it will surely sell if the product is put on the market (it is no longer a hypothesis).
Once you achieve product/market fit, you can invest and expand your business. In other words, if you invest heavily before you reach this state, you are likely to be wasted.
“Successful people will succeed even if they have the same idea, and those who fail will fail”. Believe that management is a major factor in the gap.
There is a little difference, but the system development project a year ago had a very low success rate. This is because there was no concept of project management and it was dependent on individual management ability and experience. Later, the importance of project management was advocated globally, and the project success rate increased as it was introduced.
Important: Think You Are Too Old To Be An Entrepreneur? Think Again
Practice the low cost. To make a good campaign you don’t need a big investment Let yourself be seen whenever you can, surprise your customers by engaging them in actions that make them live experiences and build effective databases. Do not underestimate the power of the media: turn your business into news, you will capture their interest and get free publicity.
Facebook has more than 900 million registered users, the number of customers you can access if you position your company in this social network. But there are others, such as Twitter, LinkedIn that may be more appropriate depending on the profile of your audience.
Business angels. If you have achieved that your start-up exceeds the year of life or before it has managed to take off, present it to the business angels. It is one of the best options to accelerate the growth of your company.
Be an Affiliate
Working as an affiliate means spreading and selling physical or digital products of other people. When you join an affiliate program you receive a commission for each sale made from the links you share. This is an ideal option for people who wish to undertake and obtain financial independence without leaving home; They have no knowledge or interest in creating an info product from scratch and fear risking money. It will be possible to imagine a concrete overall picture of the business.
- Customer segment
- Value proposition
- Relationship with customers
- Key resources
- Main activities