Steps To Start A Successful Business

Each year hundreds of companies must close, while only a few survive the first three years of life and a minimum amount exceeds five years in the market.

No magic formula guarantees success in business, however, there are specific points in which experts from the business world and successful entrepreneurs coincide as keys for an enterprise to become a big profitable and sustainable company.

Choose a simple Business Idea

The perfect business ideas do not exist. Most of the entrepreneurs stay all their lives waiting for a profitable business and without risk, and finally never undertake because they do not have “the best idea.”

Do not get stuck trying to reinvent the wheel, look for a simple idea and start, and then you will give shape as you progress.

Raises a profitable business model

  • After choosing your plan, follow one of the most important steps: Define the business model. This task requires all your concentration; you must take a page and answer:
  • What is my product or service?
  • Will I make the product or market it?
  • Who am I going to sell to?
  • What medium will I use to take my product to the customer?
  • What has my product that does not have that of the competition?
  • And any question related to how you are going to develop your business idea.

Make a good Business Plan

The business plan is an excellent business paradigm; most of the entrepreneurs develop them without even having the slightest idea of their usefulness.

A business plan allows you to organize your idea and simulate its performance in the market, but BEWARE, do not waste too much time making a program, just try to hold a useful document (as short as possible) and go from plan to action without thinking twice.

Author: Amy Hoffman