Opening your own business can be an opportunity for you to make money. If you are interested in opening your own business, your salary will provide tips on steps to be taken before opening your own business.
It is undeniable, the business itself sounds very exciting, being a boss for yourself, working time can be more flexible, and the benefits obtained if the business is successful is quite large. However, the risks faced are far greater than being employees of a company.
If you are interested in opening your own business, your salary will provide tips on steps to be taken before opening your own business.
a. Analyze the type of business involved
You have to make sure that the business you set up is the type of business you are interested in. It will be better if supported by your expertise and experience in this type of business. Perform a Break Event Point analysis to determine the potential that exists in your type of business. After that, describe your business plan in detail (Sales forecast, cash flow analysis, etc). Then arrange the marketing plan that you will do to market your business.
b. Plan your business by drafting the appropriate concept
If you are looking for external funding, a business plan / business plan proposal is a necessity. If you are going to finance the business itself, the business plan will also help you know how much money you will need to get started, what you need to do when, and where you go.
c. Prepare Capital
Capital is an important factor in starting your own business. Many people want to start a business, but don’t have the capital so they don’t work. Capital can be generated from: own capital from the results of saving, seeking capital from investors, or borrowing money from the bank, and the partnership system. In addition to initial capital, you must also have a minimum of three months from your family budget in the bank
You can also start a business without capital by becoming a reseller (retailer) of a product or item
d. Make your business a legal and recognized business
- Determine the legal structure for your business
- Choose a name that is good for your business
- Register your business name with DG IPR as an official and legal trademark in the eyes of the law
- Prepare organizational documents
- Look at business licensing documents, such as company deed of establishment, company name, rights in the name of the company, recognition and endorsement
e. Expand Your Networking
Networking can be the basis for your business continuity. You can join communities that are related to your type of business. You can do this before you start your own business, so that when you start marketing the products / services you offer, you already have extensive networking.
Hopefully these tips from your salary can enlighten those of you who want to start your own business. Good luck!