8 Effective Ways to Start a Business from Scratch

It is not enough just to prepare capital. Here are some things you need to know if you want to start a business. So that your business can run smoothly because it has been prepared as thoroughly as possible

Here are some tips for starting a business from scratch:

Brainstorming Idea

The first step you can take to start a business is to think about what type of business you will run. If you feel confused, you can turn your hobby into a business opportunity. For example, your hobby is sports, you can sell equipment or accessories for sports. In addition, you need to think of unique innovations to apply to your business in order to attract a lot of buyers.

Doing Market Research

The next step to starting a business is that you need to do market research. This market research is useful so that the target market of your business is more specific to make it easier for you to run a business. Usually, market research includes: target buyers (including: age range, gender), prices of similar products, so you can do research on your business competitors. Well, you can take advantage of the opportunities that exist after doing market research.

designing Business Plan

In order for your business to be run with very careful preparation, you must design business plans. business plan is a supporting factor in running a business. You have to consider many things in business. In the business plan Usually there is an analysis of the business you are about to start, including Strengths, Weaknesses, Opportunities, and Threats (SWOT). That is, you must study well the strengths to threats to your business, so that if a loss occurs it is not too big and you already know what you will do based on the business plans.

Studying Business Strategy

Well, this one thing is also not to be missed. By developing a good and well-planned business strategy, you can apply it to earn more money, you know. Make sure you are careful in making your business strategy. You need to learn strategies such as, when to sell, where to sell, marketing strategies, to pricing your business. In addition, you can discuss with your close relatives to receive input that you can apply later.

Determining Selling Products

After you learn your strategy and do market research, you can start thinking about what kind of product you want to sell. In addition to the product, you also need to think about how it is packaged, distributed and so on. After the product has been determined, you can make sales on a small scale first to do a trial. After that, you need to do an evaluation to continue to improve the quality of your product.

Looking for Capital

Well, you can find capital from anywhere. Such as using personal savings money, borrowing money from close relatives, to borrowing money through online money lending application guaranteed which has been supervised by OJK. Later, you can use the capital to run your business.

Doing Production and Promotion

If your business preparation is done, of course the next step is the production process. At this stage you can start with production in limited quantities to minimize losses. In addition, you can also promote your business to attract customers. You can apply various promotions such as: Buy 1 Get 1, Discount, to free testers. It's enough to just use your social media to promote your product.

Conducting Evaluation

Usually the evaluation is done to minimize the risk of failure, besides that with this evaluation you can improve the quality of your selling product to be better than before. After conducting an evaluation of the product, you can correct previous mistakes so they don't happen again.

Make sure you are well prepared and mature as possible when running a business. I hope your business goes well!