How to Start Your Own Business
Start your own business. So you want to do business? Awesome, we want to be your partner. As a responsible partner, we want to make sure success comes to you. This, How To Business Guide is our honest attempt to make your business as success as it can be.
There is no cost to start your own business. Saosis Business Opportunity is flexible, it can be taken as a part time or full-time business. It is accessible almost by anyone interested in operating an independent business. The Saosis Opportunity works in two-fold. Giving you a chance to build your own business at your pace and achieve the rewards and recognition linked to the plan and at the same time, saving nature.
Why do people start business?
Most of us believe that people start business primarily in search of “independence”, “self-determination” and “freedom”. But that is not all. If you learn the history of people who have started fast-growth business around the world, for instance, you will find people whose biggest single motivation was ‘wealth creation’. When you study more business owners in high-growth industries, ‘build wealth’ was the strongest factor in starting a company. Other motivation include, capitalizing on innovative business idea, the appeal of a start-up culture, a self desire to won a company, lack of interest in working for some one else. And for some entrepreneurs, being own boss is an important motivator.
How to Select the Right Product for Your Business start?
A key question often asked by start-up entrepreneurs is what to sell. What products or services could you sell that will make you money? The selection of the right product or service is critical. In fact, the choice of a product or service for your business can make or break your business. Your products or services define your business. Your products are your business! If you want to turn your business into an income-generating machine, the first step is to choose the right product or services to sell.
How do you choose the right product to sell?
Here are a few questions to help you narrow your focus and hopefully select the product that will work for you.
1. What are your primary considerations for choosing a particular product?
There are a many reasons for selecting a product, and these reasons can include: (a) financial benefit to your business, (b) relatively low investment requirements, (c) positive return on investment, (d) fit with present strategy, (e) feasible to develop and produce, (f) easy to source and procure, (g) relatively low risk, and time to see intended results.
2. Can you meet the needs of the customer and solve a specific problem?
Your product must address a need or an opportunity. You need to know how your products or services can assist customers. It must have a real value that customers can recognize, want and need. Include in your product information and sales materials how your products can benefit the customers,
3. How capable are you to resell the product?
Just as an athlete needs to know his physical condition before he enters a race, you must also know if you have the time, resources and ability to resell your products. Many entrepreneurs make the mistake of going forward with a business idea only to find that they cannot afford the workers required, or do not have the necessary time in the first days develop the market.
4. What is the size of your potential reachable market?
You need to at least get an idea of the size of your market. Know who are likely to use or benefit from your products.
5. If a similar product exists, can your product be superior in its functionality, presentation or marketing?
This entails knowing and understanding your Unique Selling Proposition. Your unique selling proposition is the one thing that makes that your product different from any other. It’s the one reason they think consumers will buy the product even though it may seem no different from many others just like it. It may be that the product has a lower price or more convenient packaging, or it may taste or smell better, or last longer.
6. What are the potential sales, growth, profits, and time for payback?
Before starting your business, run your numbers first. Get a clear idea of your cost structure, how much sales you need to have to breakeven and post a profit, and what your return on investment will be.