Eight Main Steps For Successful Entrepreneurship

Talk about Entrepreneurship Almost everyone has a set of high flying words. business However, the number of cases actually implemented is very few. The reason is that people who are afraid of starting a business are always more willing to bear the pressure of entrepreneurship. Actually, the idea of starting a business is not so terrible. The entrepreneurial process is summed up in eight steps, and investors are expected to be more pragmatic on the road to entrepreneurship.

First step: choose your favorite from the three hundred and sixty line.

Everyone can start a business, but not everyone can start a business successfully. There are many secrets of successful entrepreneurship, and these tips do not come from entrepreneurial success cases. experience Many of them are introspection and comprehension from the examples of failure. Based on these experiences, the first thing that entrepreneurs must do is decide what kind of industry they want to engage in. What kind of project is it? Before you make a decision, it is best to make a small test for yourself, and know where they are more creative and potential. Once a good choice is made, many of the following topics require entrepreneurs to step by step in order to gradually move towards success.

The second step: continuous self growth and learning.

With complete entrepreneurial ideas, the next step is to try to expose themselves to various channels of information and resources, such as professional associations and organizations. These groups and organizations can help you not only evaluate your entrepreneurial opportunities and potential, but also make your business plan as early as possible.

Other effective resources: Entrepreneurs' autobiography, business series, business magazines, etc., or professional business organizations, such as the SME planning consultant group, can also provide many good materials for entrepreneurs to brainstorm. Entrepreneurs can also take the initiative to give company information to local business organizations and groups to increase exposure. Even if you may be jealous of your regional competitors, you can try to exchange ideas with others in other areas and ask for timely advice. There are many successful entrepreneurs who share the same experience. The difference is just the difference in solution. So don't give up too early and give away the kindness of others.

The third step: carefully select your brand or company name.

The best brand or company name should be able to fully reflect the distinctive characteristics and uniqueness of your product or service. Basically, the relationship between brand name or company name and product is directly proportional to each other; that is to say, it is necessary to produce a close association in the minds of consumers or customers. Creative brand or company name not only helps build brand image, but also impulses customers' desire to buy. The choice of brand or company name should be forward-looking and forward-looking; the brand or company name chosen should be flexible enough to recommend itself to consumers. Finally, don't forget to make a survey of the name of the registered company to make sure that the name you have chosen is still not registered or protected by the company's trademark law. Remember, don't take an overly lengthy name. It's hard for consumers to remember.

The fourth step is to decide the legal organization and legal framework of the company.

What kind of statutory structure you have to choose before you start planning your business is suitable for your business plan. In short, first of all, do you have to decide whether you want to start your own business or start a partnership business? If you choose to start a partnership business, how will the initial capital be allocated?

The mode of partnership entrepreneurship can be limited joint-stock system or pioneering by the name of a group company. There is not a set of guidelines that can be followed to analyze various possible situations to distinguish between the best and the inferior. Therefore, you must first understand the advantages and disadvantages of various company organizational patterns and the way of operation, then choose the most suitable combination mode to match your business plan.

Although there are slight differences in the operating structure of various companies, the most important thing to note is that when the company is in a state of operation, who will bear the final legal financial responsibility? For example, in the form of sole proprietorship or partner type, the company's organization law requires individuals to own the company's debt attribution. {page_break}

That is to say, once a company loses a lawsuit involving a property lawsuit, the property and real estate belonging to a person's name will be detained and auctioned by the court to repay debts. No matter what type of business you choose from the beginning, it does not mean that the company's business system has been fixed, or that it can make timely changes based on the company's development and future potential.

Fifth step: evaluate a specific budget report.

It is necessary and careless to manage a profitable new undertaking to have sufficient circulating funds and to balance the expenses needed for actual operation and operation. It is not easy to draft a precise annual budget. Even a master with the most budget concept can make a budget statement, or underestimate the budget, or omit small details. These small details often happen in the budget list of miscellaneous and overspending projects. In addition, sometimes companies grow too fast and they will also have these small problems. In short, when we start budgeting, we must note that the annual budget for the first year of the company should include the company's first operating expenses and the monthly expenses of its continuous operation.

No matter what the company's condition is, an ideal budget report is best to increase the required budgetary proportions when budgeting, until the company can afford operating costs and underestimated profitability. It is best to listen to the opinions of other peers, and to make a specific budget estimate according to experts' recommendations, compromise the best and worst financial assessment cases, and then set the budget between the two. Experts suggest that going to an accounting firm will give you a better understanding of the company's expenses, revenue and liquidity plan.

The sixth step: choose the right address and get twice the result with half the effort.

After deciding the choice of self employment and choosing the project, the most important thing is the location problem. How important is location for a company to open a store? The view of an expert is that the choice of location is the key to success or failure, regardless of the creation of any enterprise, especially in the retail, catering and other service industries. The choice of storefront is often the key to success or failure. It can be said that a good location is half the battle.

Although there are different considerations in the selection of business sites, there are two factors that must not be overlooked. That is, the ability to pay rent and the terms of the lease. The rental of operating sites is one of the most fixed operating costs. Even if the rest is not open, they will still have to pay. Especially after the housing boom, rent is often a great burden for operators. Some industries, such as boutiques, fashion boutiques, restaurants, which are fast and small in size, do not occupy space, can afford high rent and can be located in high rent areas. Furniture stores, old stores and so on, because they need more space, it is best to set them in low rent areas. The lease has two fixed prices and a percentage. The former rent is fixed and the latter rents lower, but the percentage of the owners sharing the total income is similar to that of the storefront for shareholders. Tenancy can be set at different time limits, but for first-time entrepreneurs, the most cost-effective way is to book a one year or two year lease to prepare for an updated choice.

Seventh step: raise enough venture capital.

As the saying goes, "create wealth with money!" in many examples of entrepreneurial failures, the shortage of funds is often the main reason for entrepreneurs to finally "fall into tears of heroes". Therefore, entrepreneurs who are full of confidence don't forget that they must first raise their capital before the company is officially in operation. In other words, entrepreneurs must understand that the company may not earn 10 Fen in the first year of the first year of the business, so that entrepreneurs need to be alert and prepared to tide over the difficulties.

When raising funds for business, entrepreneurs must aim at paying all the operating expenses of the company in the first year. Generally speaking, unless the lottery is awarded the first prize, the simplest and most convenient way to raise money for entrepreneurs is to save money from the monthly salary package. If this is not a good way for you, fundraising is also the most common source of funding. {page_break}

There are quite a lot of sources of venture capital raised by entrepreneurs. Simply speaking, relatives, friends, banks, housing mortgages, retirement benefits, and even credit card lending can also come in handy. However, entrepreneurs must bear in mind that a successful entrepreneur always knows how to make full use of all kinds of pipelines to raise sufficient funds to become a strong backing for entrepreneurship, and must not only obtain funds from a single pipeline, so as not to find a way to save the emergency when the funds are tight. The method of fund raising can refer to Zhang Xuekui's recent published blog on venture capital.

The eighth step: complete the company registration and understand all relevant legal provisions.

Before starting business, you must know all the details and forms of the relevant provisions of the commercial law, license or permit application. Bear in mind that the provisions of the county and municipal governments on profit making institutions may vary, so don't forget to ask what are the special legal provisions in the counties or cities where your studio or office is located. In general, you can get this information from various SME associations or chambers of Commerce.