First thing

Discussion in 'Growing and Managing a Business' started by Matt, Mar 7, 2011.

  1. Matt

    Matt
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    Once you plan what you are going to do and how everything is going to work for your business, what is your first thing you do?
     
  2. GeeOne

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    If the business activity is finalized, the first thing would be finding the appropriate and suitable name of the company

    G!
     
  3. Fergal

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    The first thing I would do is write a business plan for the business.
     
  4. William King

    William King
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    Some people have very different point of view about writing the business plan.
    They say the conditions of the business keep changing over the time as ups and downs are the part of the business, if your business condition changes your business plan will mere a piece of paper.

    But personally, I don't have much idea about the business plan it has a huge variation sometimes it consists of single paper and sometimes a whole file
     
  5. Fergal

    Fergal
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    I agree that business conditions change over time and that this can have an impact on your business plan. However, I still believe that a business plan can give you a lot of clarity as to how the business will operate, make a profit and how you will move forward to actually create the business. In my opinion it is much easier to set up and develop your business if you have a business plan in place to guide you. Even if you don't use the plan in this way, the initial writing of the plan will have helped you to identify issues and opportunities for your business, that you may not have thought of otherwise.

    One of the biggest mistake that small business owners make when writing their business plan is that they write it based on how they feel other people, such as potential investors, will read it. A much better approach is to write the plan for yourself and to keep it as realistic as possible. Tweaks can come later, if you get to the stage where you are presenting it to potential investors.

    Writing a business plan doesn't have to be hugely complicated process, even taking a couple of hours out with a pen and paper, to go through a business plan template can be very helpful. For the majority of businesses the business plan doesn't necessarily have to be a complex professionally laid out and bound document. Although, those seeking venture capital funding will probably need a much more detailed and professional business plan.

    It is also a good idea to update the business plan regularly (perhaps every quarter) to reflect changes in your business and in market conditions.
     
  6. William King

    William King
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    I think everybody does the business planning but this is something different than the casual business plan we are talking about which is normally used to take the loans from the banks I think they are not in a use for the sole purpose of business planning.
     
  7. kylie2011

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    The first thing i would do is to find the posiible niche on the market and to do some research for me and only them some business paln to know in what direction to work.
     
  8. youngkia1

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    The first thing to do is to plan,if you failed to plan you're planning to fail the business.
     
  9. DorothyHick

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    I agree, because it is most important part of business category.
     
  10. Alexishost

    Alexishost
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    Dream and business plan
    the first thing to do is dream... what is your dream business? answer it for couple of minutes and writing it in paper.
    then as fergal said there.. write business plan.
     
  11. Fergal

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    Good point Alexishost, "nothing happens without first a dream".
     
  12. Beck

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    The first thing I do is start gaining fans and getting traffic to my website. From there, it's pretty much easy. Once you get people who are interested in your topic, niche or what you're selling, it's a piece of cake from there :)
     
  13. Rasha

    Rasha
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    you are right .. all you need to do is to find interested people in your niche ..
     
  14. strawni

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    Planning are must to start anything in your life...if you plan properly than u can successful in any field
     
  15. f5mtadas

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    Check mail box, traffic statistic,opt-ins, sign ups and than take on action for my daily tasks to complete:)
     
  16. stepbystep2

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    You definitely must do research on the niche. You do not want to make the mistake of starting a business that you want oppose to what people want. Simply put find out what the market wants not need, because people buy what they want, they buy the 50 inch big screen tv, they buy on emotion and justify the buy using logic. Then when you know what they want create your plan to give it to them. Every successful business follows that same plan. Once you know what the market is missing and what people want th peaces will fall into place. Hope that helps somewhat. Good luck.

    Chris
     

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