What you need to do to open a small business.

1. Make your choice of business you would like to do and learn about it as much as possible.

2. Evaluate all your strengths and weaknesses as an entrepreneur. Treat yourself critically and objectively.

3. Do a thorough analysis of their future field of activity, potential customers, competitors, licensing and taxation.

4. Determine the legal form of your future company (i.e., SP, SRL, etc.

5. Rate the possible location of the company. Check the physical condition of the premises, their suitability, the presence of traffic flows, intersections and Parking places. Determine the cost of utilities.

6. Prepare a comprehensive plan of activities, include the schedule of ongoing activities.

7. Obtain the necessary start-up capital (savings, Bank loan, etc.

8. Select the name of your company.

9. Get all the necessary permits and authorization documents from the respective organizations.

10.Register in the prescribed manner your company.

11. Will get the fiscal code.

12.Open a Bank account. Look for a Bank and the types of services that will best meet your needs.

13.Sostavitelnitsej schedule, develop job descriptions (functional responsibilities) and training programmes.

14. Acquire the necessary premises, equipment, furniture, signage (billboards, signs), facilities, and warehouses.

15.Print business cards, letterhead, etc.

16.Determine hours of operation of your business.

17. Hire the necessary staff, using modern methods of selection and recruitment of staff.

18. Release informational materials on your company, your products or services. Advertise your new venture, products, services, personnel.

Determining your financial needs.

If you wish to begin own business, you need to find out its own financial position. Determining your current income and expenses, you will be able to better predict its own financial needs for the next few months.

For most small businesses the characteristic time interval between the date of commencement and the day when the first profit. Typically most consultants in the field of administration, specializing in small businesses – will recommend you to have at least a six-month supply of savings in order to use them in the beginning stages of your business. Of course, this amount can vary depending on what type of activities you decide to do and what type of enterprise to organize.

Many women prefer to start a business to provide services or conduct business at home, because in this case the cost of development will be significantly lower than other types of entrepreneurial activity.

Before you make any decisions about what type of business you would like to do, you should develop a monthly savings plan and spending. This will help you figure out what amount of money you need per month for accommodation. In addition, the plan will tell you will not prevent your intention to open his own company to others your wishes, for example – to give your child a College education. To create a plan for saving and spending proceed as follows.

1. First, determine and write down your fixed expenses for each month of the following year. Fixed costs include insurance, pay the house, cars and other immovable property, payment of utilities, savings, etc.

2. Once you have determined the fixed costs for each month, summarize their fixed expenses for the year.

3. Next, specify non-fixed expenses and sign them on a monthly basis for the next year. Since you aren’t required to pay a specific amount for these items, you may make the decision about their inclusion or non-inclusion, and what amount to pay on each article. Take into account the amount of money you spent in previous months, and what changes you intend to make. For non-fixed costs include amounts allocated to food (including restaurants), clothing, personal hygiene, entertainment, transportation (gasoline), etc.

4. After you have determined the non-fixed expenses for each month, sum up them together with a non-fixed expenses for the year.

5. Now subtract the received total fixed costs and total non-fixed expenses for each month of your expected monthly income and annual income.

Have you received the balance? Whether you have every month extra money? If Yes, then this is a good sign. You can use this list of savings and expenses to determine your monthly demand for cash. You can also use the list to find out what happens if next year your income or expenses change.

It may happen that after studying their needs in terms of savings and expenses, you will suddenly discover that starting a company lacking the necessary resources. Do not despair. It happens to many. In reality, this may be the first obstacle you need to overcome.

If you are refused to open your own business then proceed to the accumulation of alternative sources of income. Over 75% of small business owners are attracted to start their personal savings. However, if the requested amount exceeds all of your savings, you will need to attract other sources – Bank loans, family members, partners, friends, venture capital companies, the mortgaged property, government loans. Do not neglect anything. But at the same time not be amiss to remember and follow this rule: never borrow more money than necessary to open your business. Often it happens that the more money you borrow, the less able to control them.

Strategic thinking in management.

In order to become a leader, you have to develop a strategic thinking skills. Strategic thinking is the process by which you learn to bring your commercial vision to life, developing the ability to teamwork, to the solution of a problem critical thinking. It is also a tool that helps you to confront the changing circumstances, to plan the necessary conversion, implement them, and to anticipate new directions and opportunities.

Strategic thinking is akin to creating a film, every film has content (the story), he lets you down in the end to a specific result (in this case, you are experiencing emotions). Strategic thinking in your work has a largely similar mechanism, because it requires you to envision what you want to get the ideal from your business, and then go back and create a script to bring their ideas to life.

Developing strategic thinking for your business, you should be guided by five different criteria. They will help you clearly outline your imaginary result. In addition, they will help you determine the number of steps required to turn your commercial vision into reality.

The following is a list of these five criteria.

The organization of your company is the people who work for you, the organizational structure of your company and the resources needed in order to force all this economy to function. Will look like in your organization? Structure of some type will support your vision? How you combine together people, resources, structure and achieve the desired result.

When you look at the world from above, from the airplane window, you see much more than when you stand on the ground. Strategic thinking is largely the same. In the sense that it allows us to see things from above . Thanks to your increased Supervisory capabilities, you will begin to better understand the motives of human behavior, will be able to solve problems more efficiently and find the differences between the alternatives.

Point of view – it’s just different views on something: In strategic thinking, there are four points of view, which should be taken into account in the formation of business strategy, namely.

the point of view of the environment.

the point of view of the market.

the point of view of the project.

point of view the importance of the moment.

You can use them as tools to help you in achieving-goals to represent the possible outcomes, identify critical elements and carefully calibrate your actions.

4. The driving forces.

What are the driving forces that will embody your imaginary result in reality? What is the vision and goal of your company? Usually the driving forces are the basis of what, in your opinion, workers of your company should pay special attention (in other words, it means that you use to entice other-people to properly perform their functional responsibilities). To the category of driving forces can be attributed to individual and collective incentives, empowerment, and alignment quality (articulated vision, values and goals), production (task or appointment) and quantitative factors (results or experience), as well as commitment, coherent action, effectiveness, productivity and cost.

Network marketing.
Network marketing (or multilevel marketing ; eng. multilevel marketing . MLM) concept sales of goods and services based on creation of a network of independent distributors (sales agents), each of…

Continue reading →

Small business ideas
After a fantastic success of the attraction "drunk" bar, the cost of opening that could beat just one good day of work, the market amusement amusements added another innovation —…

Continue reading →

A profitable online business
Good opportunity to build your business online and get passive income is to develop and promote your own website. The process of obtaining income from the operation of the site…

Continue reading →