Starting a Business

I think you should consider first the budget so that you can easily determine how large would your business will be. Second is the kind of business you want to engage with but before you establish it you should have the expertise to run the business. If you cannot manage it effectively it will just not going to work well. Another is the location where you would like to put up your business. I suggest that it should be in a place where people come often so that you will have a bigger chance to have customers.

Hi friend,

to start a new business you need a proper business plan, proper location, survey and keen knowledge of market. after that equity for your business and proper strategies to enter in the market. there are many things but these are most important one. so always take care these things while starting a new business.

C'mon.

Is it a good product or service?

Sustainable?

Scalable?

This is a HUGE topic.

I sometimes think people get to wrapped up with business plans, with most if not all falling by the wayside. Any business plan drawn up pre 2007/8 would have completely flipped. Never done one myself as I would always find it difficult to predict what may or may not happen in the future... Just my thoughts

Just looked at my plan from 2005, should have made my first million by 2007 and bought out Yell by 2010.

Oh well, back to the drawing board

I think at the beginning, Biz plans are a good tool to make you sit down and make sure you fully understand your strategy, and get down on paper where you think you are, and where you are going, but any figures, especially at the start up stage will be pie in the sky.

As you evolve, I think the only real need for a business plan is if you need to secure funding, and an investor or the bank may want to see an up to date plan/strategy/vision document.

But I personally think something like an up to date marketing/strategy plan is a good idea, so you have a clear objective for the coming 12 months, if you are looking to grow and expand, but even this will be flexible, as you react to outside forces.

Not an easy time to open up a business

I keep hearing from different sources that now is the best time to set up in business. For those people who cannot find permanent work, the best thing I would have thought is to start something themselves it doesen't have to be anything major, better to have a small income coming in than none I would have thought. I thought I heard a while back that you could still claim benefits for a period of time whilst starting up a small business.

more of a catchphrase than good advise

It sounds like a debate into whether now's a good time to start a business is heating up

The first step for business start up is planning of it that what is your mission/goal and how you will meet these goals. Making strategy according to our goal and target market is also an essential part of it. So, you must be aware about all basics of business start ups as I discussed before.