Most start-ups fail within 5 years of start, only 5% of start-ups succeed. This is due to the mistakes made from the beginning. We are going to tell you how to start a better plan to start a business that lasts for years
We will answer how do I know if a business idea is good or not?
The best thing to do is to do business in the area in which you have better skills, work that you like to do and for which you have passion because this is the thing with which the better work can be done without stress for a long time. After this, then decide which product you are going to make, or provide services.
1. Don’t be afraid of competing if your plan is not unique, which no one has started before. But take care that your product or service is better than your competitor and how it will be profitable, as well as how you will make a profit.
2. Before starting, carefully assess the competitors to see how they did a better job in that direction, and if someone has failed in this work earlier, what was the mistake that caused them to fail which
you should not repeat.
3. What would be your marketing strategy
To know how much people are interested in your product, you can use Google Keyword Planner Tool where you get to know about the mood of people towards your product.
4. Do a survey on social media and get opinions from experts.
List the skills you and your team have.
5. Evaluate how much time and money will be required to start the business.
6. Evaluate how many resources you have to start a business.
7. How you can earn better profits by taking your business online.
8. Make a list of such dependable people from whom you can get opinions and who can help you in executing your business.
9. When you start the business, try to have the necessary money because you have many mistakes in the business but there is no scope of apology, so they often have to be paid with money so that you can work continuously.
Most businesses fail their beginning because they have a shortage of funds, so manage it in such a way that the payment arrives at the right time from your customer.
10. Decide which people your target customers will be and from which areas.
11. In the end, take note of all your things that will help you to execute them.
If you want to get advice about business, you can email [email protected] at this address