A Start Up is a newly formed business company which is Confused About -
1. What its product is
2.Who all are there Customers
3. How to Make Money
But once they figure all of the above stated points they turn into real Business ! Though in 70% of the cases it doesn’t Happen So…
Every Day At Least 1 billion People think of Business related ideas of which half a million people have the courage to make there idea’s turn into real Business and at the end just 25 % of them succeed and rest close down in a time span of 6 month’s ! Have you ever figured out why they Shut Down?
Here are a few reasons you need to remember and make a note before starting your very own Start Up Company…
1. Skimping Your Dream Plan - This is the biggest mistake people make they don’t make plan’s or do sufficient research work and other related things and start there Business !
Make a business plan, take a note on each and every aspects of your business ,Spend more and more time researching everywhere possible and getting each and every bit Cleared ! This will help you sustain for a long time !
2. Trying to be the one man Hero of Business – To get it cleared, business has never succeeded by just the effort of one single person neither it has by having too many Co-Founders. Select the right partner, before starting up the Business!
3. Working on a Business that isn’t Working – Love Your Product but can’t find ways to reach the customers and your company is Sinking ? Well, Its time to call an end to the company! Spending a lot of money, time would be worthless if you can’t find a way to success.
Always do enough research and practical work on each and every bit before taking the risk to start a company!
4. Spending less time on Marketing & Sales – Spending time on Product development is good but too much of everything is Bad ! Sales and Marketing are the essential part of Business never neglect it! Spread your product as much as you can, use all kinds of marketing ways to reach the customers and convince them to buy your product. Hire Various Campus Ambassadors or Social Media Managers who’s work would be spread your company everywhere possible.
5. Having No Product Distribution Partner – If your product is for Consumers daily use and you don’t have a distribution partner then its going to be difficult for you to sell your product. Always have a person or a team dedicated for distribution of your product whose main work would be to go through various targeted retail stores and introduce your product to them and try them to convince them to sell your product.
6. Hiring People to Spread Your Business without checking their Skills – Well Hiring more and more people for expanding your business is the best Idea! But without checking their skills is completely illogical. Before hiring anyone always check their Experience, Skills, Strong and Weak points and most importantly Working Capacity.
7. Not Maintaining A Healthy Relationship with Partner’s – Always maintain a healthy relationship with your business partners as well as with your staff Members. They are the ones who are going to take you to the path of Success.
8. Maintaining a Healthy Sales and Profit – Sales and Profit are two different terms having different meaning. When customers show interest and buy your product that’s when you start selling But if customer’s love your product and a large amount of product is being sold and your are earning a good amount cutting of all the expenditure that you have Spend on your product , That’s called Profit .
9. Trusting Expert’s Review Much More than your Gut’s – Well, seeking help from experts is very good but not having trust on yourself is BAD. It was you who started the business not an Expert who convinced you to do it! Take help but in the same time also have Believe on yourself.
10. Not Spending Money in the Right Place - Well, Money is the most vital component. Make a chart on where your company lacks and way to improve your Business Standards. Spend Money Wisely!
2.Who all are there Customers
3. How to Make Money
But once they figure all of the above stated points they turn into real Business ! Though in 70% of the cases it doesn’t Happen So…
Every Day At Least 1 billion People think of Business related ideas of which half a million people have the courage to make there idea’s turn into real Business and at the end just 25 % of them succeed and rest close down in a time span of 6 month’s ! Have you ever figured out why they Shut Down?
Here are a few reasons you need to remember and make a note before starting your very own Start Up Company…
1. Skimping Your Dream Plan - This is the biggest mistake people make they don’t make plan’s or do sufficient research work and other related things and start there Business !
Make a business plan, take a note on each and every aspects of your business ,Spend more and more time researching everywhere possible and getting each and every bit Cleared ! This will help you sustain for a long time !
2. Trying to be the one man Hero of Business – To get it cleared, business has never succeeded by just the effort of one single person neither it has by having too many Co-Founders. Select the right partner, before starting up the Business!
3. Working on a Business that isn’t Working – Love Your Product but can’t find ways to reach the customers and your company is Sinking ? Well, Its time to call an end to the company! Spending a lot of money, time would be worthless if you can’t find a way to success.
Always do enough research and practical work on each and every bit before taking the risk to start a company!
4. Spending less time on Marketing & Sales – Spending time on Product development is good but too much of everything is Bad ! Sales and Marketing are the essential part of Business never neglect it! Spread your product as much as you can, use all kinds of marketing ways to reach the customers and convince them to buy your product. Hire Various Campus Ambassadors or Social Media Managers who’s work would be spread your company everywhere possible.
5. Having No Product Distribution Partner – If your product is for Consumers daily use and you don’t have a distribution partner then its going to be difficult for you to sell your product. Always have a person or a team dedicated for distribution of your product whose main work would be to go through various targeted retail stores and introduce your product to them and try them to convince them to sell your product.
6. Hiring People to Spread Your Business without checking their Skills – Well Hiring more and more people for expanding your business is the best Idea! But without checking their skills is completely illogical. Before hiring anyone always check their Experience, Skills, Strong and Weak points and most importantly Working Capacity.
7. Not Maintaining A Healthy Relationship with Partner’s – Always maintain a healthy relationship with your business partners as well as with your staff Members. They are the ones who are going to take you to the path of Success.
8. Maintaining a Healthy Sales and Profit – Sales and Profit are two different terms having different meaning. When customers show interest and buy your product that’s when you start selling But if customer’s love your product and a large amount of product is being sold and your are earning a good amount cutting of all the expenditure that you have Spend on your product , That’s called Profit .
9. Trusting Expert’s Review Much More than your Gut’s – Well, seeking help from experts is very good but not having trust on yourself is BAD. It was you who started the business not an Expert who convinced you to do it! Take help but in the same time also have Believe on yourself.
10. Not Spending Money in the Right Place - Well, Money is the most vital component. Make a chart on where your company lacks and way to improve your Business Standards. Spend Money Wisely!
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