Home > Business, General > 20 Steps to your own business

20 Steps to your own business

  1. Who am I and where am I going? Vision and passion will direct you and guides all your efforts. The clearer the vision, the easier it is to achieve.

2. Get Advise:Research shows that those who get assistance at the beginning often perform better than those who don’t.

3. The customer comes first:Find out what the customer wants and provide that. Research your idea and your market carefully.

4. Why will customers buy from you? Customers will buy from me because….

5. Registration:The most common forms of registration are Private Companies. Contact PBA for registration.

6. Be Legal and safe:Obtain any necessary licenses, get insured and observe Health and Safety regulations..

7. Vat and Tax:Vat and Tax regulations are very detailed, complicated and strictly enforced. Find out more from ZIMRA. Talk to your PBA Business advisor and they can point you in the right direction.

8. Obtain suppliers:Source your suppliers of the products you need to sell or make your final product. Get the best quotation and do not be afraid to negotiate a better deal.

9. Do you need premises? Find suitable premises. Working from home can often save money at start up.

10. Budget: Plan your expenditure. Obtain as much information as possible so as to get as accurate a figure as possible.

11. Find your Break-even point: Add your costs and calculate how much you need to sell before you make a profit. This is your break-even.

12. Pricing:Research what your competitor charges and how much the customer will pay. Negotiate where you can and start high.

13. Forecast your Sales:Forecast each month’s sales, considering fluctuating demand due to seasons. Always maintain positive cash flow.

14. Do a SWOT:List your Strengths, Weaknesses, Opportunities and Threats.

15. Find Finance:Contact us for more information.

16. Write a business plan:Create a plan that clearly and concisely explains your business including your product, market, sales forecasts, finance and how your business will grow over the next few months.

17. Pre Launch Marketing:Don’t wait for start up to start telling people about your business. Send mail, leaflets, advertising and generate interest. Tell your neighbours, friends and relatives about your business.

18. Find an accountant:Find an accountant experienced in with your kind of business. An accountant will help organize your finance so you can spend wisely.

19. Find a mentor:Enlist the help of someone who has successfully walked a few steps ahead of you.

20. Persevere:Be persistent, persevere, visualize your success and don’t give up.

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Categories: Business, General
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  1. July 31, 2010 at 11:49 am
  2. November 12, 2014 at 9:20 pm

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