learn all you need to know about business on this page, the success of every startup is hinged on undertanding the basics.
how to start a business
Many of business start-up failures
, in this day and age of irreversible globalization and
constant technological advances where distinct stages
of growth namely local, national and international
that a start-up went through in the past can easily be leapfrogged
are owners(capitalist bourgeoisie) /managers that did not realize they needed both business process and content
knowledge to run an enterprise successfully.
When you have a business idea on your mind be a product or service, it is most likely you know it well, that is, process knowledge, question is do you understand it in the context of business, that is, content knowledge?
The answer to you as a student will be hardly!
Don't worry, read the book Mastering ABC of Business, it will teach you the basics of business in no time and complete what you have learned with business information as collectively will help you to see clearly what you will need to do, how will your idea work and in the long run if you start, thrive and survive in an extremely competitive globalized world.
Stage I: Starting up Matters of the Law
Regardless of age, as a business owner, understanding all matters of the
law is more important than anything else as ignorance of the law is
no excuse in Latin 'ignorantia juris non excusat',
learn a lesson on how costly ignorance of the law can be from the late 1990s
start-up that shook the record
To be on the right side of the law onset; Get all the information you need about taxation, business premises and rates, intellectual property and so forth through this link set up a business.
Stage II: Market research your idea
Before you commit your resources of time and money, thoroughly market research your start up concept/idea to see if is viable, use market reports as a secondary research guide or alternatively you can do your own primary research using free market research questionnaire templates to guide you through and if money is not an issue outsource this service. Never rely entirely on assumptions and intuition.
Stage III: Business Plan
Generally speaking, written business plan is not a must, the only exception is when you want to open a business account, raise equity from investors or borrow capital. Still, it is a good idea to have a written business plan so you can keep track of what is happening.Use the links below to guide you through business plan writing: