How to develop a business?
Commercial activity of any type pursues the goals for which it was created. The essence of the whole business is to increase the number of sales and profit. Speech in this article will go about how to properly develop a business. This should be done in such a way as to achieve the desired results.
Business from scratch
For business development, first of all, it is necessary to clearly understand what to do. Perhaps the most difficult thing in commercial activity is the idea of which business to develop. The organization of the process itself should be started only after a thorough market research and analysis of the market.
- The ideal option to start a business would be to have a fresh idea that has not been proposed by anyone yet. The chances of success in this case are much greater.
- But you can do and improve the product already existing. It can be sold cheaper than competitors, and you can do to improve its qualities.
- In order to decide on the choice of ideas for business, it is necessary to answer a number of questions:
- Do you have any skills that could be the basis of the future business?
- Do you know the niche of the market, still unfilled, those in which there are practically no competitors?
- Do you have large-scale ideas at the level of solving the problems of the state or the largest companies?
- The next step will be to draw up a development plan, which may consist of the following items:
- design (an abstract idea turns into a specific product);
- creating a trial version, prototyping;
- protection of rights, it is necessary to patent your invention, if any;
- the decision of organizational issues: what staff is needed, where will be located production areas, storage facilities, etc.
- marketing, think over the organization of sales of your product or service.
- Now it is necessary to move on to solving a complex problem - financing your project. Depending on the goals of creating a business, money for its development can be requested from the state, innovation and venture capital funds, large companies, various funds supporting a startup. You can take a loan from a bank or mortgage any property. Providing funds without seeing prospects, no one will, therefore, you will need to provide a business plan. It should include the following items:
- marketing plan;
- what investment or loan funds will be spent on;
- a description of the financial benefit of the investor or lender;
- how credit will be extinguished.
- Your plan for how to develop a business should be discussed with professionals. But, in this case one should be very careful. There is a danger that the idea will be stolen. It is advisable to conclude an agreement prohibiting the disclosure of confidential information.
- The market needs to be tested. Any idea should pass the test, even the seemingly most profitable. You can create a trial (demo) version of the product or conduct a survey of the target audience. This should be done in order to assess the requirements for the product, to establish the timing of its implementation and the identification of emerging problems.
How to develop a small business
At one point, you were tired of working for a stranger, and you had the decision to open your own small business. Thus, the first step towards success and prosperity was made. Now it is time to actively develop your small business. This step must be done confidently and competently.
- Selection of the team. The selection must be made by you personally.A system of testing and questioning should be clearly developed, and the conduct of an interview is carefully thought out. Selected staff will need to complete the required courses or training.
- Next, it is necessary to accurately monitor the performance of employees of their duties, to monitor how their working time is spent. Arrange for each employee to submit a weekly activity report.
- It is necessary to conduct an advertising campaign. It should cover both print publications and the Internet. Must be pasted and handed out flyers and flyers. Your task is to develop your brand by any available means. Free bulletin boards and social networks should be used on the Internet. When collaborating with advertising agencies do not rush to invest immediately. You must first check the profitability of an advertising campaign.
- A system must be designed to motivate your customers. You can provide free shipping, a system of discounts must be developed, a reduction in price when purchasing goods in a certain quantity is thought out. The task is to attract as many loyal customers as possible.
Business with a small profit
Until that time, it was about how to develop a business from scratch. But you managed to open and run your business, such as a store. There is a lot of work in it, but something is not very profit. Among other things, you feel in yourself a greater potential and abilities for more than being a simple owner of a grocery store. We need to develop further.
- Let us analyze this process on the example of a regular store. It is clear that the greater the quantity of goods sold, the greater the profit will be received. How to increase sales? First of all, it is necessary to analyze the range of goods.
- It is necessary to understand what contingent of people, and for what purchases comes to the store most often.
- What population prevails in the area where it is located, secured or not very much?
- Are there any shops nearby, and which ones? In the event that only large shopping and entertainment complexes are nearby, it makes sense to include in the assortment goods belonging to the middle price category. Products that are not in demand should be excluded from it.
- Rate your work schedule, compare it with the schedule of competitors.If there are no convenience stores in the district, make one your store. So, you will need to add to the sale of fast food, usually in the evening and at night they are in great demand.
- Control the work of sellers, the quality of customer service. It depends on whether the customer wants to return to your store again.
- The store should have a calm, cozy atmosphere. Service should be put on a high level. This should not depend on the size of the store.
- Search for suppliers working with a discount, or negotiate with existing ones.
- Grow yourself as an entrepreneur. Read the necessary literature. Learn from courses, trainings and seminars. Visit the Internet themed sites, chat on the forums.
After reading this article, you received recommendations on how to develop a business. This should help you develop your own commercial project.