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How to start a small business |
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People tend to be concerned about their needs that they crave to procure accordingly to their business activities. Starting a small business is a never easy task. One needs to be totally dedicated and hard working, systematically so that the business could produce good results. Maintenance of a small business is a critical aspect. Suppose for a month or two from the startup of any small business, there is no profit produced, obviously not according to the expectations, and then the respective owner of the business starts to panic, as it will be a difficult situation for him to pay the bills pertaining to the costs of employee salary, shop rent, electricity, telephone etc. This is where the closure of the business comes into place, as with a little amount of money the business being started, hoping for profits in quick time. But when unfortunately there is no income pouring in, then the business owner unable to cope with the losses and in frustration stops any further business bustle. On the contrary, take for example, the most patient business man that I have come to know, four years back, when he started a software business on a small scale, by the name Monarch IT Solutions and Consulting. His companys main role had been to hunt for projects by sending about hundred e-mails everyday to various companies in the Gulf, the e-mail message, which consisted of his companys information as such apropos to a formal letter type that comprise of providing software solutions. And his company may not do these software projects but through the filing of MOU (Memorandum of Understanding) with the other company that will be capable of doing the project brought by his company Monarch IT Solutions and Consulting. Hence, only this type of activity of sending e-mails performed everyday, by himself and his two employees. Initially he was excited and so are the employees for achieving the target of obtaining 2 projects in a span of just about one month from two different Gulf companies. But unfortunately the projects did not yield anything as consequently were withdrawn by the clients before signing the agreement papers. This businessman was not perturbed by the failure to get hold of the projects and started working as a team with his employees. Also not bothered about the expenses every month and only bothered about hard work. Finally after about eight months, Monarch IT Solutions and Consulting started making money and presently well established. Patience and hard work when involved then a business never flops: People are too much concerned about the business spot as to where a particular business will run successfully, that may be according to most people a place at the commercial road or a main road of the city. This makes sense only when the so-called spot is easily available. Nevertheless the condition for obtaining such spots to start a business may cause concern, as it will be too expensive. Then you opt for taking a decision between starting a business or put off your venture for a while. This causes a fall unto your enthusiasm, which is not worthwhile. However many big companies now a days, are choosing residential areas, for their firms location. And it has been turning out to be effective. So why not small businesses, to begin with, try out its operations at such residential areas where the rent will not be too much provided it is permissible to run a small business there. Its always necessary to plan a business and its prospects before starting it such as to what extent its marketing can be done, and all appropriate rules for its benefit should be followed. Many a time we see that some shops do not consist much of the items or the shops may not be populated with the stock, that comprise the variety for the availability of so many things, which always attract the customers. Instead the shopkeepers prefer to keep too little stock to begin with. Their intention is clear, as they like to do business for a few months with some sort of the stock and possibly improving the quantity of the stock with the profit gained by selling whatever their shop contains. This is a wrong attitude or a notion, which generates problems in achieving success with regard to small business. On the other hand the shop that contains many things or a lot of stock does manages to gain high income. Small business is after all not restricted to shops or general stores, thereby including other forms such as processing, manufacturing, catering etc. Some small business people apply some sort of strategies to boost their business. It is nice to see that people put so much of effort in their small business and achieve huge success. On the street of Abids, Hyderabad, this man started serving fried chicken and many other chicken items on a nominal price. He put lot of effort to prepare tasty, mouth-watering fast food on the footpath itself. People got tempted to the enchanting smell and soon he became popular, and he now earns more than the earnings of a fast food restaurant. It is always worth to start a small business of the likes of serving tasty food, sweets etc. There is another successful businessman, who started small-scale sweet business in the mid 80s and also that he being a skilful sweet maker, attracted customers to his sweet shop by merely burning a kg of pure ghee well hidden from the people, inside his shop. Hence the burning of the pure ghee produced a terrific sweet smell that was more than enough to bring more customers and he emerged to become highly successful by adopting a secret strategy and making good sweets. Still he burns a kg of pure ghee and absolutely not known to the public. A business of whatever kind attains success by putting extra effort. Also the business that you want to start should be in consideration to be at a proper location, look etc. A particular businessman, who opened an expensive coffee shop, and surprisingly chose one of the areas of Hyderabad where most of the middle class people reside. As expected since about a year the coffee shop is running on a loss. Unfortunately about 2 to 3 customers come to the coffee shop per day. 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