How to Start your Own Business

Who can say that we will be able to push through a business during a global crisis because of the Covid-19 Pandemic? Before anyone would even think that a pandemic would actually take-over this whole 2020, I would personally always think and plan of so many business ideas (that I know more of you can relate) that we don't actually end up pursuing and that's okay. 

For me, that is the first step of starting your business, where you generate ideas to come up into something you look forward into starting. You don't need to overthink everything to be as detailed and perfect. You just need to start to think of things that interest you. And that's how we started. 

I genuinely suggest people who wants to start their own business to first come-up with ideas that suits your interest or hobbies because that will keep you motivated into actually doing and pursuing it.

But can you imagine what actually leads us to starting our own business is when we started to sell one product that we will not be able to use and know that someone might be looking for it which leads to not actually going through the plans and ideas we had in mind in the first place, and for me, that's normal. As a person, we always plan things that we wanted to work for us but in my case, most of them don't go as I planned. But don't be too hard on yourself for this because there are things that we think will be best for us but God had another plan for us, God have the best plan for us. Just be patient, know that He acknowledged your efforts and will not disappoint you just as long as you trust in Him that His plans will always be the best for us.

It can be something spontaneous just like what we did, you can always test out one item to sell to see how things work and if it is something you wanted to continue before actually getting more products to the actual supplier. My advise is to not be afraid to start small. Baby steps are as relevant as your major ones. Always remember that small progress is still a progress.

When you actually know what item you wanted to sell and know how much is your starting capital, you will now start to look for suppliers of the actual item or materials if you are going to personally produce your products. Just make sure that the suppliers can be someone who knows your standards and goals in order for you to have an alignment before you actually start your business. With the advancement of technology, searching of suppliers can be done online but it will always be appropriate to do a site visit once you have identified your potential suppliers. 

Knowing the right materials, machines, equipment, documents and people that will help you run your business is a very important factor into starting your own business. A business can be done by one person but you should always take into consideration all of the things that you will need depending on the nature of your business. A business partner, team member and staff are the core of a business, these are the people who will help you reach your goals so might as well find a person who will compliment your strengths and will help you reach your business' maximum potential.

Now that you have started all of this steps, you can now start your own business. Next step is to choose your business name where you should consider to somehow incorporate the products or service you are about to sell while making it fun, unique and catchy to your target market. 

When it comes to location, it actually varies in the nature of business you are going to go for. Some business might need an actual or physical store, a storage or warehouse or some may also work out on what they currently have. Just take note that when it comes to having a physical store, the location of the business is crucial especially when you are new and is still in the process of introducing your business.

 

After your figure all of this things out, it is time to register your business and apply for licenses and permits to your corresponding city.

With regards to managing your finances and sales, I am encouraging you to open a business account so you can manage your personal and business finances and expenses without any hassle. 

In relation to this last step,  you should always study your target market, their needs, the trend and what actually satisfies them. These are the people that will help your business grow so might as well take a step to actually get to know them. Plan for marketing strategies to reach out to your target market and set goals on how to nurture them once they get to know you and once they become your customers.