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This article was co-written by Art Lewin. Art Lewin is an entrepreneur based in Los Angeles, California. He specializes in trading, buying, selling, marketing and investing in real estate. Art is the CEO and founder of four Los Angeles-based companies: Art Lewin Bespoke, Healthy Choice Labs, SFR Properties, and Professional Business Network (PBN). Art is world-renowned for its exclusive designs of work clothes that are cut-to-order or ready-to-wear. His clients include royals, politicians, and HPlywood stars such as Hugh Hefner, Sylvester Stallone, Johnny Carson, Steve Allen and William Shatner.
This article has been viewed 11,937 times.
Despite the pressure, self-employment is still a good career and lifestyle choice. It requires your time and concentration. Start by anticipating that you will have to put in time and effort until the business is stable and initially successful. There are different views on how to start a business. Here are a few basic ideas and guidelines for you.
Steps
Find ideas
- Find business ideas by identifying things that people need and are willing to pay for, things that are not offered in your area, or things that you can do better than anyone else.
Make a business plan
- Know that operating costs are key to a business’s profitability, because to stay in business you’ll need to earn more than this benchmark.
- Evaluate competitors: if their market share or products are too strong and stable, it will be difficult for you to penetrate the market. No one wants to buy a more expensive or comparable version of a perfectly available product or service in the market.
- You also need to learn the relevant laws and regulations, especially about taxes. You should consult your local authorities as well as obtain information from the tax office. [2] X Research Source
- Make sure there are no out-of-pocket expenses, such as equipment that is too expensive for the business to be profitable. Cars didn’t take off until Ford figured out how to make them cheaper by developing more efficient production devices.
Make a marketing plan
- Make sure you use the right type of marketing for the audience you expect to be interested in your product or service. For example, using social networks to advertise yacht services only for people 55 and older will get nowhere. On the other hand, if the dance club is the new target for advertising, the print press probably won’t be the best choice for you. It also doesn’t do any good to advertise a business that only operates in Ho Chi Minh to people living in Hanoi. So, don’t forget to consider geographic location in marketing as well.
- If the service is seasonal, you should consider what is the best time of year to advertise. At the same time, TV ads need to be timed to reach the right audience when on air.
Find financial resources
Build the infrastructure
Establish a customer base
- Advertise in such a way that it can at least capture the attention of the customer and hopefully go further, capturing their imagination. Be creative and engaging with your target audience.
- Give out free samples to the right audience so people can say well about the product you offer. Word of mouth (or good PR) is the best way to attract new customers. When you receive bad comments or negative feedback, react positively and fix the problem. People will be less judgmental when you’re willing to correct mistakes.
Get paid
Advice
- Make sure that your product/service appeals to the community, the region and the public not just your way of seeing it. If not, you should think about how to make it more attractive. Be wise in this regard.
- Ask someone who runs a home business you know. They can help you get started.
- Make sure your business looks professional and attractive. Have a logo, consistent branding, and a professional website to back it up. Many groups will help you, such as startyourownbusiness.net.au and vistaprint.com.au.
- Realize that the business takes time to take off. Most businesses aren’t immediately profitable, so plan them to suit your personal life. You will have to make sacrifices to be the master.
- Use these free resources. Your local library has a wealth of useful resources related to business registration, business planning, marketing, and industry-specific information. The Small Business Association, Chamber of Commerce, AMEX Small Business website, industry associations, ethnic associations… all offer training, supplies, networking and sometimes finance. . Another good option is SCORE, a group of retired executives who will give you startup advice.
- When hiring people, make sure you’ve reviewed and interviewed them thoroughly. Don’t forget to collect real information, passports, identity cards, work history, work permits and more to be sure they are genuine and trustworthy.
- Make sure the payment is convenient and appropriate. Accept credit cards, monthly payment plans, promote products with buy one get one free or discount.
- Ask for advice when naming, finding slogans or identifying service offerings, etc.
- Ask your parents for help.
- Consult friends, relatives, and colleagues and make plans with the help of your good supporters and advocates.
Warning
- Don’t forget to take time for yourself. Make sure that your exercise plan or family time is upheld.
This article was co-written by Art Lewin. Art Lewin is an entrepreneur based in Los Angeles, California. He specializes in trading, buying, selling, marketing and investing in real estate. Art is the CEO and founder of four Los Angeles-based companies: Art Lewin Bespoke, Healthy Choice Labs, SFR Properties, and Professional Business Network (PBN). Art is world-renowned for its exclusive designs of work clothes that are cut-to-order or ready-to-wear. His clients include royals, politicians, and HPlywood stars such as Hugh Hefner, Sylvester Stallone, Johnny Carson, Steve Allen and William Shatner.
This article has been viewed 11,937 times.
Despite the pressure, self-employment is still a good career and lifestyle choice. It requires your time and concentration. Start by anticipating that you will have to put in time and effort until the business is stable and initially successful. There are different views on how to start a business. Here are a few basic ideas and guidelines for you.
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