What is the groundwork needed to start a business and make it successful?
First of all, I congratulate you on taking the initiative of starting and startup? So basically there are a lot of things that you need to do before starting a startup
1.you have to have a business model you. First, you need to have a business model you have to find out what service you are going to provide. What is your market, where is your market, who is your customer and where you can find your customer and how the whole business will work like from the start to end how the whole system is going to work? You have to know that and how many people you would require and whether the business model is viable or not. Even if you have a very good business model, but you need to know about the availability of the market, its demands etc
2. Capital is important, you need to know how much capital is required, whether you can partner with someone to start your business. You need to have cash flow is to business is what blood is to your body its lifeline without blood circulation. You’re going to die without cash flow even if your business model is very good. Cash is always going to keep your business alive
3. you have the business model with you-you have the capital with you to start your business but you have to know how to build a brand. It is about all about marketing.
Building your brand
1. Start with a logo, that defines your company identity
2. If you’re starting online you need to have a website that is fully functional and a trade license. If you are not legally registered it will cause you problems to run your business. Get legal advice from a lawyer of a CA and get your business legalized. obviously get the legal status.
3. You have to apply for a trademark or a patent on your brand so that people cannot steal or copy your company’s identity. It is important because you will have the copyright on your products
4. Look what you are going into, a very oversaturated market will be very tough, but if you are going into a market that is less competitive it will be much more easier for you.
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