You have probably studied management and business theories prior to your establishment of your own business. You must have visualized everything from the planning stage to the execution phase. Starting a business is an intricate process and it involves major investment of resources such as time, money, and efforts. Before I opened my online store, I took a crash course in management and accounting just to make sure that I have at least an inkling of the ins and outs of the putting up and maintaining a business. I also consulted veteran business owners and business makers and asked them to share their story with me. Every entrepreneurial story is different. You just have to learn from the mistakes of others. Aside from that, I also attended seminars and conferences and read tons of books and magazines about entrepreneurship. Overall, it took at least one and half year for me to begin my own business but everything that I have learned and gained seems insufficient.

 

Making The Blueprint

In establishing a startup business, you must visualize it first. One of the most ideal types of business is the one that is driven by your passion in life. It would also be easier to visualize everything if you are knowledgeable of the ins and outs of that business nature. Prior to my decision to open an apparel shop, I always visualize myself dealing with young professionals and teenagers who are in constant look for trendy and quality clothing. I envisioned that in the long run of my business, I will also be doing my own designs and would participate on fashion walks. I even dreamt of opening my own clothing line. These have inspired me to continue exerting efforts until I finally opened my online shop. Although these scenarios are not really detailed, it gave a blueprint on how I will manage my shop.

 

Networking With Suppliers Or Investors

Establishing a harmonious relationship with suppliers is undoubtedly one of the most important considerations in an entrepreneur’s life. Certainly, you will be encountering difficult transactions and it would absolutely push you to the wall. But then again, you just have to decide the more valuable things in order to keep your business up and running. Besides, if you are able to maintain a healthy relationship with your suppliers, you will eventually be entitled to freebies and discounts, thus making your business venture a lot easier. Investors are also important but for emerging business, it could be very difficult to look for one.

 

Marketing And Advertising

Decide whether you want to market or advertise your products and services on print, television and radio broadcast, or in the internet. Each of these media platforms has varying influence scale which is used in determining the advertising price.

 

Excellent Customer Care

Small Business StartupEvery client wants an excellent customer service especially if it is a new business. In fact, if you uphold the principle of putting your customers on the frontline of your concerns, your clients will see and feel it and it is definitely a plus point for your startup business.