Starting A Business - The Planning And Process

This Is Work In Progress

Some Of The Best Tips To Start A Business

#1 Have a product.

#2 Find a customer need or problem for a product or service

#3 Distribution of the product (How are you going to sell it?).

#4 Plan Costs (Have A Budget).

#5 Manage money wisely.

#6 Take out a loan (Not Recommended Unless you Have a Good Market).

#7 Who are we going to sell it to?

#8 How are we going to make the product/How are we going to resell the product

#9 Have a good accountability

#10 You Need Spenders

#11 You Need Sellers

#12 If the product is original take out a patent so nobody can steal your idea

#13 Have good a good quality product

#14 The Product doesn’t have to be the best but it can't be the worst

#15 You need a competitive price with the market

#16 (Only for inventions) If an invention exists a reserve to the public from the exact formula of the product because then if you give them the formula they steal it take your hard worked money.

[Example To Avoid]- I am in 1930 and 1940 I am inventing cars that have gasoline engines and I bring out a patent after testing. I register my patent describing My car has XYZ parts.

#17 have a good presentation so then product is attractive and have a good grip in the market

#18 Be different from the market No Plagiarism

#19 Have a info manual

#20 Have a Warranty

#21 Although Planning Is Important Testing is the key to success

Some Of The Reasons You Should Start A Business

#1 No one can fire you. You have the security about your Job/Business

Some Of The Worst Tips You Get To Start A Business

#1 You Should Cheat and lie. No You Should always follow the rules and keep the business on the books and legal

#2 Do What You Love. No, Just because you love doing something doesn’t mean that others will find it helpful or necessary. And if no one buys what you’re selling, then doing what you love won’t really get you anywhere.
Quote by The Worst Business Advice

Disadvantages You Should Watch Out For.

#1 Bad Reviews can damage your reputation

#2 Competition selling the same product for less

#3 The quality of the product

#4 The difficulty in the distribution

#5The cost of shipping and buying/making

#6 Taking out a loan that is impossible to pay back.

#7 You Lose your distribution centers and you might have unfair competition

#8 Financial Risk the money needed is extensive in some cases

#9 Stress when you start a business you become the business that you pour your work and sweat into

#10 Undesirable duties like paperwork etc.

#11 Keeping up with the market.

#12 Planning ahead.

#13 Cash flow and financial management.

#15 The right systems.

#16 Welcoming change.