What is Entrepreneurship ?
Entrepreneurship is the process of Designing, Launching and Sustaining a New Business, which is usually known as Start-up Businesses and the people who start these start-up are known as Entrepreneurs.
Entrepreneur’s are those person who involved in the activity of setting up a Business or Businesses, take the responsibility of Financial risk in the hope of Economical, Structural, Motivational or Emotional profit.
How to Start a Business ?
To Start a Business firstly you need to think and make Decision that you really want to start a Business then, follow the procedure given below:-
Get an Unique Idea
If You already have an Unique Idea then its great, you are ready to make a plan to Start a Business but if You are Searching for an Unique Idea then you must follow these steps:-
1) Evaluate Your Skills
First of all ask yourself that ” Why you want to start a Business ?” and “What do you want from this Business ?“.
- If you want to start a Business for Side Income and If you want to earn money from money then, you can join our GRN Partner Investor Program and make money by investing any amount in GRN Running Projects or GRN Upcoming Projects.
- If you want to start a Business for Full Life Income and If you want to earn money from your skills then, you must have to Evaluate Your Skills and Find out “What You Can Do Best”.
2) Identify Problems
Once you find out that “What you can do Best” then, you need to Identify Problems in your Real-Time Atmosphere and select that problem which you think that, you can solve it by using your skills, your network or by using your any other resources and this problem should be facing by large group of Social Society.
3) Find The Solution
Once you Identifies Problem that you think, you can solve by using your resources then, you need to start working on this problem and Find The Solution of this Problem that is Optimized in different aspects like Implementable, Efficient, Profitable, Economical, Easily Available etc.
4) Do Your Market Research
Once you Find The Solution of the problem then, you need to Start your Market Research on
- Raw Resources:- You need to find out which and How much Raw Resources( Money, Raw Material, Processing Equipment etc. ) requires during Starting Phase, Growing Phase and Sustaining Phase of your Business.
Targeted Audience:- You need to Identify your Targeted Audience, find out your potential customers, calculate the conversion rate and check the future scope and opportunities.
- Marketing Research:- You need to understand your customer’s psychology, find out, “What your customer needs” and “How you can approach your Targeted Audience” in easiest, cheapest and appealing way through Marketing.
- Competition:- You need to check the competition in market and do research on your competitor( What’s their strong and weak point, What we can learn from it, How we can use them and What unique or useful we can offer to our customer ) .
- Customer Research:- You need to understand your customer’s needs, expectations, psychology, Spending Power, Availability and competition etc. Research your Customer and then, make a plan for your Business while, considering the point of view of your Customers.
Now, you have an Unique Idea of Business and have its research report so, now you are ready to make a plan to implement and Start your Business.
Make A Plan
If you are ready with your Unique Idea and have completed your research then, its the time to Make a Plan. While making your plan take care about the Budget, Infrastructure, Location, Resource Availability, Backup, Expenses, Expected Losses, Expected Profit, Turnover etc while, considering both Best and Worst condition.
Collect Required Resources
Once you make your plan start collecting required Resources( Raw Material, Finance, Human Power, Infrastructure, Targeted Customer Marketing Tools etc.) to Start Your Business and also, make an arrangement of resources which will be able to fulfill your Future Business need of Resources.
Now, If you are ready with your Plan and you trust your plan then, you need to Make your Decision to Implement your Plan.
Implement Your Plan
If you are ready with your plan and already made your decision to Implement your Plan then, you need to Start Your Business.
Start Your Business
If you had done your all preparation, collected all required resources, completed your research and have a good plan then, your are ready to Start Your Business.
To Start Your Business you need to follow the following procedure:-
- Choose a Business Structure:- Thare are various kind of Business structure prevailing in world depending upon countries it varies. Its all your choice whichever structure you choose according to your vision. We recommend in starting either go for sole proprietorship or partnership firm.
- Register Your Business Name:- Your Business Name plays a role in every aspect of Business so, choose it wisely. Make sure your Business Name will be Unique and gives an idea to audience about your Business.
- Get License and Permit:- Get all the required License by law depending on the nature of your Business and its Location.
- Establish an Accounting System:- Your accounting system is necessary in order to create and manage your budget, set your rates and prices, conduct business with others, and file your taxes. Either you can do your accounting by yourself, or hire an accountant to do it for you.
- Choose Business Location:- Location plays an important role for your Business. Depending on the nature and need of your Business, choose your Business Location very wisely.
- Make Your Team:- Now the time comes up to hire employees( If its required in your Business). Be clear about the positions you need to fill, and the job responsibilities that are part of each position.
- Marketing of your Business:- Depending upon the nature of your Business choose the marketing medium wisely and try to target larger audience in cheaper cost here, your customer research will help you a lot.
Become Our Partner Entrepreneur
If you have an Unique Idea and you are ready to start your Business and need any kind of help related to Business you can contact us or if you need any kind of Services for your Business then you can visit our Business Solution Services page.
If you think you have a valuable skill or have an Idea and searching for a partner to start your business then we are here to offer you our partnership. If your Idea got selected then you can start the Business on that Idea in partnership with GRN Business Solutions and you can do what you think you can do best and leave all other headache of other aspects of Business on us.