Setting up a company might be anyone’s dream, however, it isn’t a cakewalk to start a business in India. One who wishes to set up his own company has to have a strong desire and unique thought process. Setting up a business involves various steps and procedures so that one will be able to forecast his business success. There are plenty of opportunities available in India for small and medium types of businesses whether it comes to service or manufacturing or marketing of goods.
Step 1: Research Your Business Idea:
Step 2: Analyse Market Competition:
- Make list of top distributors and retailers in your territory
- How much (value) they sell the products every month?
- Which company’s products is leader?
- What are the prices of those products or services?
- Do the customers satisfy with the product?
- Can any improvement be done with the existing products or services?
Step 3: Plan your Products Specification:
Step 4: Plan the Source of Finance:
Step 5: Get Your Legal Formalities Done:
Step 6: Build Your Experienced and enthusiastic Team:
Step 7: Plan the mode of Advertisement:
Step 8: Formulate your Final Product or design your Final services:
Step 9: Set up Pre-launch Strategy:
This is the most crucial step when it comes to start and launch your products or services. Before launching the company you need to formulate a unique strategy to gather the initial attention of consumers. This could provide an initial boost to your company as well as can generate initial customers for your company.
In fact, setting up the pre-launch program would facilitate you to develop relationships with your would-be customers. You can also organise different customer relationship programme to grab the attention of the potential customer. Though this will impose some extra burden to your finance, this will definitely add some value and will be beneficial for your company in future.
Step 10: Finally Launch the Company:
This is the final step of setting up a business. Fix the launching date of the company, prepare your team, guide each team members and implement all of your plans along with a positive approach.
Hope this article might be guided you regarding How to start a business? In a nutshell, starting any new business is not so easy but if you follow the proper steps carefully, it might be simple and easy to set up any business. Above 10 steps are very crucial phases of business and should not be avoided.
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