Did you know, the most vulnerable time of a business is the first year. Many businesses are falling in the first year since its inception. According to some studies, the first two years, three of the ten new companies go bankrupt.
First five years living half still operating.In this period of time is the most vulnerable time for a business because of the expense. For example, it needs the funds to rent a place, at least for one year. If the business is not smooth, the burden of cost to rent payments this could create a bloody business. Not to mention for other working capital expenses, such as machinery and so forth.
There are five things to consider for business can run smoothly since the first year.
1. Talk to the consumer.
Conducting market research will be running a business will make us avoid mistakes. Due to this research we can find a product or service will we have to offer according to the market that we sasar. We can also determine a competitive price that can be perceived by the market.
2. Choose the appropriate places.
Place here can be a real place (store or office) can also be the domain name because we will run the internet based business. Choose a place or a domain corresponding to the designation.
3. Do not be wasteful.
Should hold myself not to do waste. Businessman beginners are usually tempted to things that actually can be done efficiently. For example, do not have a nice office. But sometimes there are people who want flashy office immediately because of their pride. In fact the higher the better offices in the company's financial burden. In addition, do not rush to recruit staff or experts if we were still able to handle it alone. Because once we recruit, we guarantee you a monthly salary. Not to mention insurance and other support.
4. Make arrangements.
With the initial plan we will find the best alternatives. Because of this, sit quietly, looking left and right inputs, and dig deep until we make plans to be optimal. Also arrange alternative what will we take if we are facing a bad situation.
5. Analysis continues its development.
Despite the early start it was clear in our business will be brought to an extent, but still continuing to do the analysis so that we actually know where our business is running. If you stay on track repair steps that can accelerate its development. But if it does not fit with its business goals and less running, replace it. A successful businessman even have any target hardware. If within six months of business deviate significantly from expectations, the business will soon close it. "Do not waste your time with a business that is not necessarily successful," he said.
Successful business people are generally not immediately successful with his first business, but had ups and downs of several businesses that he founded at the beginning.
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