Starting a business has never been easy unless you were born into a wealthy family, but even then the possibility of failure is not small. Especially if you do not know what to do, how to predict at least some things, changes in the future, trends in the future, consumption, etc. But before then you should have an idea of the basics of how to build your start-up properly. However, even with a perfect start, if your service or product is not in demand, the option of timely withdrawal is not a shameful choice. No matter what you want, you must be determined at all times. Look at the various stories of today’s giants filled with colourful stories and many of them started with nothing… literally. Nowadays this is very difficult, we would even say impossible because the market is crowded and there is a lot of everything.
To succeed, you should have a good plan and originality here, and of course, never leave the chance of failure. On the contrary, learn to lose to start earning, correcting your mistakes and stealing ideas from the rest, be the first in every way whenever you have the opportunity.
Starting a business is a very interesting experience and is intended for brave enthusiasts. Anything can happen, but whatever happens, it will change your life in some way. All this takes time, but you do not have one. A great organization is required, be as precise as possible, think about possible options, happenings, etc.
Be realistic, dreams do not come true with the snap of a finger. Perseverance, careful consideration and financing are required. Owning an idea is not having a running business! Nowadays business is rough, no one is waiting! We believe that if you have already got here and are reading this article, you can handle it!
But…, what does it take to make your idea a business reality?
In this article, we will try to briefly explain the steps you need to get your idea right and the financing, which is Investment Group Services priority of the job. Don’t be afraid of the requirements, on the contrary, be brave! There are many steps to the start and even more to the top, but you should not despair. You will see our advice, but also we will introduce to you, benefits and what we can offer you in the order you to have a winning and running business at the end.
So, let’s look at what you need to get started in your own business.
Steps to Starting a business:
1. Business plan
Every business, no matter which class – small, medium, large, global – requires its plan of action, development, startup, first steps. In this step, you will need to focus your start-up business and the goals you need to achieve in the first stage of your business, calculating what you need to get started, and more. If you have the opportunity and the difficulty to deal with it, there are always paid consultants who will prepare your business plan and even give you recommendations based on their research on what is better to focus on and others. However, do not neglect this step! It is also important for attracting investors! Without a business plan, no investor will pay attention to you.
If you are going to do it yourself, there are several major sections to arrange your plan properly:
1.1. A summary of your business
Describe briefly your business, the activity it will focus on and why you think your idea will succeed.
In the second section, you can now provide a more detailed presentation of your business. Describe in detail what your idea is, with what it will be useful for your potential customers, indicate specific advantages, advantages over your competitors. Describe your strong sides, what kind of experts will be involved in your project, and more. Try to impress not only your potential investors but also your potential clients.
1.3. Market Analysis
You need to prepare well here. Analyze carefully your competitors and the target market in which your business will grow, see what techniques your competitors use to grow, think about how you will compete to gain market share. Describe all this in an orderly and careful way. Describe their strong sides, and how you will get into them, which will be your strengths. Don’t underestimate or show that you underestimate your competition. This will be a bad joke, it will alienate potential investors and even clients from you. Treat me with respect. Treat them with respect for what they have achieved.
Here you describe how your organization is structured, how you will manage your business, and who will be at the forefront of your management team. It is likely that when starting a small and medium-sized business it is assumed that you are on your own, but if you have a team, mark it down, note their skills and qualities and who will manage the different processes of developing your company.
1.5. Services and/or Products
Describe detailed information about what products and/or services you will offer in the market, properties, qualities, and benefits.
1.6. Marketing Plan
Describe in detail how you will market your services and / or products, your business marketing strategy, how you will enter the market, and how you will gain your customers with what you are offering.
Everyone knows that in order to start a business, they need finances, but many start-ups, after investing finances, do not manage their accounts well and therefore fail to develop their idea. Try to calculate your expenses well. The minimum you can calculate is a 6-month period in which you will need finances not only to start but also to keep your business afloat – including rent, salaries, water, electricity, taxes, fees, accounting, charging of goods or consumables and others. If you would like to add a paragraph with calculations for a 5-year period if you find good investors with better funding who will like your idea of which to share this.
If you already have a startup business, use this section to enter current profits, expenses, overall history, statements, and more. Make your predictions about how your business will grow based on customer demand and investment.
1.9. Attached Documents
Use this sector here, not only if you have a startup business, but also to prove to future investors what knowledge you have, prizes, awards, honors, patents, licenses, CVs and more to show other important qualities for your ingenuity and others. This can impress the right investor and is often very helpful.
Regardless of whether you already have a plan in place, you need to constantly crawl, research and understand how your competitors work before starting your business. You don’t know who and when will pop up with something new and interesting that will have to contend with further and overshadow your start. The competition research process is continuous and vital, you should do it before the start and during the existence of your business. You have the freedom to use data from the Internet to stay informed about what’s new in your niche, make a notification related to words that are relevant to your business and more. There is even pre-made software that does exactly that, which you can use.
Remember, do not fight, but understand your competition!
3. Financial forecasts
While this is also part of the preparation of your business plan, it is also a continuous process that you need to monitor and update. Everything in the world is changing with fast speed and you need to be up-to-date and predict as much as possible about your business, based not only on demand but also on many global factors. Even some times natural ones that can affect economically not only current time but also the future of the business. This will also help your solutions to better control or even timely rescue from an emerging problem, etc. You could determine what period you are in, the possible future and where you are aiming. But above all, it is an important tool that your investors and future investors will use to gauge not only your idea but also your abilities.
You don’t need to have special education to do this, there are also ready-made software solutions to monitor this. If your business is already relatively developed, you will likely have employees who will have exactly this job position to make those researches, which is important for your further development.
As this article is primarily focused on starting a business and looking for finances for start-up businesses, we are getting to the most important step. A step that will help you earn investors who will believe in you and trust you. An important step that is also not to be underestimated is the presentation of your business, idea, project.
A boring, text-and-numbers-reading business plan is not going to attract attention, it is a tool for the start and detailed information for investors who have already expressed interest or those you have directly requested.
But in order to get feedback and wish to get acquainted with your business plan, you must first introduce yourself properly. Whether you make a presentation to them personally, present an online presentation, video presentation, or one that you have already made to an audience and is pre-recorded, does not matter.
The main purpose and idea of the presentation is to shine, show desire, enthusiasm, combativeness, qualities and try to be unique and elegant at the same time.
In addition to all the important aspects and data that you will present, you need to stand out, show your passion, your knowledge, products, services and the reason why they need to invest in you.
The presentation should be as concise as possible, not cluttered with information, because it will make everyone bored. The standard presentation should grab those you are showing it in the first minutes. It should be no longer than 20 minutes and be interesting. If it’s simpler, you may use a standard slideshows software, but try fit everything in a maximum of 15 to 20 slides.
Use quality images, if you can use some videos will be great. Make sentences short and clear for understanding, short phrases that, in a few words to show each paragraph what it’s all about.
5. Financing for starting a business.
Financing is the step without which no business can start.
So, who should we focus on to fund our project and business, and where can we find potential investors?
A question with many solutions, but for each different industry, different solutions are appropriate. Here we, from the team of Investment Group Services will introduce to you the possible variants their pluses and minuses. Plus, the best option that we can offer to you, which is hundred precent winning option.
– It is possible to use crowdfunding, but things are running very slowly and hard there. It must be a super unique idea in order to succeed in crowdfunding platforms. This way of raising the necessary funding for a startup is prompted by its very name “crowdfunding”, namely raising funds from the audience or from potential buyers themselves. These are ordinary people or sometimes businesses who, if they find your idea interesting and worthy of help, will support it with small amounts. This is why this method is not recommended because it is extremely difficult and time-consuming. There are many cases of projects that have not raised anything or raised small amounts that are not sufficient to start, and that is how everything ends.
– Using a bank or other credit is the most commonly used option, but it is very difficult, not only to approve it but also to survive in difficult times. No one will care if your business succeeds or not, you owe a monthly tax, and the larger the loan, the higher the taxes and others. Especially for a startup business, this is a very risky situation. However, there are opportunities in various aspects and fields of activity.
– Business angels are one of the much better options that you can use to start and grow an already active business. There are a few websites that have built contacts and have a rich list of so-called “angels” who are medium and large-sized investors. Different websites have different fees. Some allow investors to choose their fees themselves, and often they are quite large.
But, there is also one very important factor. Most websites cover a specific geographical area and hence the limitations and difficulty of finding an investor. Some of them outside your country would agree to fund you, but because of the difficult opportunity to monitor your development, this rarely happens.
However, there is no room for concern, because the Investment Group Services platform offers a solution to this problem. Free of charge, your documents and presentation are reviewed by our dedicated specialists and if they approve it, we will directly invest in your idea! If not, your pitch will be listed on the site for prospective investors to browse and evaluate. We will even email your pitch as a personalized message to our specially selected investors list. Investment Group Services offers a bunch of innovative options that make it easier for you and future investors. Find out more…
We hope we have been and will be useful for your development. Starting a business is not easy, it can be difficult and stressful at times, but you should not give up. Your idea can be successful with your perseverance and organization. Use all available tools that will facilitate your startup process. Anything is possible if you are inventive and strong in spirit!
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