The decision to start a new business is very exciting and challenging to be your own boss and run the business of your dream. Before investing your time and money there are important things to consider first. These are the business idea, business plan and market research.
Idea : the idea needs to solve a problem; you need to ask your friends and family about the potential problems and how to solve them through your business. An essential part for your business is to have passion for it to get enjoyment and progress to success.
Business Plan : you need to write a feasible business to raise funding and secure investment. The business plan should include the executive summary, a description of products and services, market and competitor’s analysis and the potential team and their responsibilities and financial projections. for the success of the business this plan should be updated regularly to have an
insight of the business growth and development.
Advertising : the success of the business idea depends on a sound marketing plan. The social media platforms can provide a great portal to reach audience and generate sales. The optimization of search engine generate traffic to the website and eventually attract sales.