STARTING A BUSINESS FROM SCRATCH

“Are you thinking of starting a business from scratch? Here are some essential steps to build a business from the ground floor up. They will empower you to take that first dramatic step toward starting your own business and doing it right the first time.”

 ACT LIKE YOU KNOW WHAT YOU ARE DOING

Boasting is nothing to be ashamed of. It you move full speed ahead with aplomb; people are bound to move with you despite the fact that you have no clue as to what you are doing. You won’t always feel confident, but that doesn’t mean you can’t perform.

 BE PATIENT IF YOU WANT BIG CLIENT

Landing the big one takes time, it’s like fishing, you bait the hook and swing it high and might, but it can take hours to catch a big one.The same holds true for landing a co-operate giant. Finding Strategic customers or vendors who know your industry and believe in your product or business is manna from heaven. But it won’t take days or months to woo them. Count on years.

 BELIEVE IN YOUR SELF

If you do not believe yourself, who will? Every day, look in the mirror and say, "I am the best I can possibly be and I am going to do great things today" You have to convince yourself first before you can convince others.

 BUILD A CORE TEAM OF PEOPLE UNLIKE YOURSELF. 

When the going gets tough, you want people at your side who are responsible and reliable. Look for people who complement you, compensate for your weakness or offer a fresh perspective. Impose on them to challenge you constantly by taking a critical or contrasting position. How else will you and the organization grow?

 BE OPTIMISTIC

Sure, we all run into bad luck at some time or another but the secret is learning how to squeeze out the negative and only work with the positive. In other words, search for ways to turn misfortunes into benefit. The key to creating luck is to seek opportunities. Think about the good things happening in your life and work your way towards making every day an even better day.

 DEFINE YOUR BUSINESS BUT ALWAYS PUT CUSTOMER FIRST.

Refer to HENRY FORD'S classic Refer to HENRY FORD'S classic statement “An American can have a ford in any color so long as it’s black". The business is not about you, it’s about the vision you have that should serve customers. THEODORE LEAVITT had it right when he said, “The purpose of a business is to get and keep a customer” PETER DRUKER stated” companies are not in business to make items, but to make customers”

DELEGATE WHEN YOU CAN

Control freaks, perfectionists and compulsive people are OUT, delegators IN. Who's going to get more done, the person who delegates the work to 100 people or the one who does it all himself? By delegating responsibilities early on, you will have time to consider the needs of the business as a whole.

DONT QUIT YOUR JOB UNTIL YOU HAVE YOUR FIRST BIG CUSTOMER

What’s a business without at least one Rock-Solid Customer? It’s a frustrating hobby. Before you even think of starting a business and running it full time, you better have a BIG customer or a handful of small ones who pay well and are committed for the long Haul

GET A GRIP ON CASH

To run a business that is lean, alert and ready for challenge, you have to tidy up your balance sheet and have enough money at your disposal. Know where your money is coming from and where it’s going. Most new businesses fail and many do so because they are under-capitalized. Small businesses by definition tend to be thrifty even in good times and bad times. This is the reason to keep belts tight.

EXUDE ENTHUSIASM AND POSITIVENESS

What turns you on -

An enthusiastic and positive person or one who never smiles, never jumps up and down at your new idea? Start jumping up and down and look for people who will happily join you.

HAVE A MENTOR

Nothing beats turning to someone who's been there and can provide you with perspective that you are unable or unwilling to see. Mentors spare you from making costly mistakes or learning lessons the hard way.