“Achieve freedom and independence that comes from being your boss.”
Want to Start a business from Scratch ?
Can one idea, blended with a team, really possess a superpower?
Yes, for sure.
But, how you find a proven path of success?
ARE YOU BUILDING YOUR FIRST BUSINESS AND FEEL LOST AND UNSURE OF WHAT STEPS TO TAKE?
YOU ARE NOT ALONE…
Today I’d like to give you every single step that you need to follow to start a business from scratch,
- Business mindset
- Techniques to generate ideas
- business model
- revenue model
- business strategy
- Distribution strategy
- operations strategy
- human resource planning
- marketing plan
- financial leverage
- business growth plan
- FAQ’s on starting a business from scratch
Don’t Make mistakes like others do.
This are not a Common topics that you already know !
This is a powerful blueprint,
To start a business from scratch here are 11 steps to follow them.
1) Business mindset
Believe me here is a secret that people become Billionaire through their mindset.
If you also want to start a business to become a billionaire, then here are billionaires mindset lines that you need to Meditate on them by closing your eyes to install them in your mind.
Time needed: 4 minutes.
Here are the Mindsets about wealth that Rich people shares
- #1.Failure is a hint to get success.
Rich people never take failure as a failure rather they think failure as a huddle to cross and get success.
if, you do not get success in one attempt means you have to learn more, practice more to cross that huddle and become successful, learn from your failure analyses yourself
if you didn’t get the point, why you get fail in a startup. then you have to gain more knowledge about business.
“Failure is just a resting place. It is an opportunity to begin again more intelligently.”
- #2.Business man don’t believe in giving up!
- #3.You have to think big and dream big.
- #4.They believe we create our own destiny.
- #5.What ever the result they get, they never blame on others.
I hope you understand the depth of this lines business mindset is important part to create business when you are beginner.
2) Techniques to generate ideas
Here is a simple technique to generate idea, Solve the needy problem in your particular filed what ever you are pursuing.
Why I am using word Need because not all solution makes money. Some are a one-time fix solution to a particular problem and some problem-solving products which you make are recurring,
Not every idea is a money making idea, choose your Millions dollar idea!
let’s take an example to understand more deeply.
If we talk about Google it is the biggest company in the world where you are reading this article. (Google is a search engine it is an invention.)
So, Does we have to think like out of the Box to do business?
Exactly not that’s what I am explaining you.
We have to choose a basic idea from the problem-solving technique, which has more chance to succeed because we are not inventing something we are doing business and become an entrepreneur by solving day to day life problems faced by people.
So, you have to frame your idea like Ritesh Agarwal founder of OYO Rooms, OYO was conceptualized to solve a huge problem in the hospitality sector. They are providing cleanroom at the lowest price.
I Hope You understand how to generate business idea ?
Now understand the next step that is,
3) Business model
Here is a Hack,
To start a business from scratch, you have to make a business model, 90% of Startups fail because of their business model. They Ignore the Most important part business model and revenue model we understand the revenue model after the Business model.
So, the business model is a design of the business, that from where revenue generates, what is our customer base, what is the exact market we are going to target,
Who is going to lead the particular department? What are the positions and how we maintain the operation of the business? To work smoothly and a lot of things. You have to do post mortem of your business to create a successful Business model.
4) Revenue model
New startup and the newbies most probably either confuse or ignore the most important part of startup or business that is revenue model,
Lets, understand in short What is revenue model?
It is a Most most important part of your business to define how you are going to generate revenue what are your sources of income to run your business smoothly without going bankrupt.
If your business if not generating profit in the first sale means you need to change your business model or you need to more focus on your revenue model.
Don’t start working on business until you know,
how to price the value?, and who pays for the value. It is a key component of a company’s business model.
5) Business strategy
This is one of the flexible parts of the business we have to make a Goal to achieve something, whereas business strategy is a mind map that how we are going to achieve that goal, we have to plan for a future and act according to it.
Here is a Question what are the points that we need to consider while making business strategy?
Remember the one thing!
“The essence of strategy is choosing what not to do.”
Yes right, we have to focus more on what not to do while focusing on what to do this is the most important part of making proper business strategy.
- #1. Point to be considered to make a proper business strategy.
- #2. Simple, Consistent, long term Goals.
- #3. Deep analysis of the competitive analysis.
- #4. Objectively & effectively exploit company resource.
- #5. A strong-willed leader with solid decision making
Strategy is about Making choice; it’s about deliberately choosing to be different.
the business strategy does not consider the product distribution we have to plan a product distribution.
To start a business from scratch let’s know how we plan a distribution strategy.
6) Distribution strategy
To make a connection to the rest of marketing mixing, like how your product is delivered to the door of a customer if you are planning a something like an online product to sell,
If you don’t want to fail in business then you have to work every small single aspect of business.
so, here are some point to plan Distribution strategy
It consider 7 piece of marketing that is
- Physical evidence.
So, we are going to focus only on Place to make Distribution strategy. Lets take an example
Suppose you are a bakery owner planning to sell cake online you have to make a proper plan of shipping your cake at costumes doorsteps.
Or in another case you are going to sell your cake with a roadside stall, you have to plan for it. Who is going to distribute how we are going to distribute, packaging, Stall permission etc.
As a Market point of view you need to consider some important things:
- Location and the concentration in the targeted group.
- Buyer behaviour (Expectations and habit)
- Buyer need
Others Factors are like if you are working on the franchise-based business model, then you have to plan a raw material delivery, human resources skills etc.,
7) Operations strategy
As you know by name operation strategy means strategy to make our operations smoothly Right?
But what operation ?
So, the perfect example to understand
If you have a MC Donald’s Type business do you ever think how they are providing burgers and fast food so fast?
they have operations and systems to drive MC Donald’s, so we have to think about internal operations and the counters operations,
Suppose we have 3 counters and more orders it means we are destroying our costumer’s relationship indirectly our branding. So plan the operations of your company accurately that customers experience is not considered as a bad experience.
If you are still reading this article means you are serious about your startup/ business.
so if you plan everything accordingly then you have to also think about Man power to run the organization.
let us understand the term Human resource.
8) Human resource planning
To grow up your organization, you need to forecast human resources for supply and demand, the right type of persons in the right numbers.
this is a continues process because people are leaving and join your organization.
Make sure the person you are hiring are welled skill and for right position.
Human resource planning point to be consider.
- Future-oriented process
- Continues process
- Forward-looking process
- An integral part of the cooperating process
- Optimum utilization of resources
- Both qualitative and quantitative process
- Long term as well as Short term
I am covering all the points to start a business from scratch, so now one of the main ingredients that we have to cover that is Marketing planning,
9) Marketing plan
Don’t get confused in Marketing and salespeople mostly misunderstand between two terms let me explain with the help of the table to make you understand.
|Increase Recall Value||Increase Revenue|
|Support the sales function||Help in Sales|
|Strategy and unique strength||balance sheet top line|
Hope you understand the difference and get clear in your mind about Marketing and sales
Now here I am going to give you 5 Strategy of Marketing for your business.
- Niche Marketing
- Trade show Marketing.
- Social Media Marketing.
- Freebie Marketing.
- cross-sell marketing
10) Financial leverage
There are two type of leverage
- Lower leverage
- High leverage
Don’t Get Confuse financial leverage is simple the calculation of debt of interest you have to pay from your profit
Means if you have a proper calculation of financial Leverages then the funding you take from the investment is never going to waste. you can simply calculate profit and loss according to your startup.
11) Business growth plan
Dream Big there are no limits to how good you can become or how high you can rise except the limits you put on yourself
What does it take to become successful in today’s business world?
In order to have a successful business practice this things
This are 7 tips to grow your business.
- Be Hands-on and meticulous.
- Show your passion
- Focus on the customer.
- Become more competitive.
- Mind the money
- Measure your success.
To start a business from scratch takes this much analyze before starting a business from scratch must consider this point
First, you need to determine your idea is scalable and does it make million dollars for you?.
you also need to develop the quality of entrepreneur of you not have, Don’t consider yourself under-skilled you know them just go and learn.
With that said, having a proper guideline to follow will help simplify the process for you.
Based on what we’ve discussed, you can get start your business from starch in just 11 steps.
Start, step by step I told you here implement it and get the result
of course, there are some steps you need to add or eliminate what ever we discussed.
But I am assured after reading this article you have a mindset and blueprint to start business.
You’ll also need to raise money.
Without proper financial planning, your startup doesn’t stand a chance.
Surround yourself with the right people.
Find people to help you in spaces that are not your strongest areas of expertise.
Don’t forget about lawyers, insurance agents, and accountants.
Build your website and find a physical location for your business operations.
Even if your startup hasn’t launched yet, it’s never too early to start marketing.
These steps will help you build a Mind map.
Establishing a steady clientele will grow your startup.
Launching your startup business won’t be perfect, and you need to prepare for unforeseen circumstances.
Proper planning and execution will help limit these hurdles.
Business is the activity of making one’s living or making money by producing or buying and selling products (such as goods and services).
The financial resources needed to start and grow a business can be extensive, and if things don’t go well, you may face substantial financial loss. and in result you get Stressed.
Anyone can start a business, but the success level is different according to your knowledge experience, determination and sometimes education. in simple the business, you understand his market and target audience can start a business in their own field easily.
May be or may be not, there is no guarantee you get rich after starting business.
In your own field, You just have to be Self aware, and you need analytical thinking to understand your market need.
Business is a skill itself that you have to learn and take experience in starting a business.
I have written a blog for you “Start a business from scratch” this blog gives you to clear understanding that your business is going to be successful or not.
Here is a Question for you just comment and answer it.
How will you raise funding to get your startup company off the ground?