Step by step guide on how to startup a profitable business

Posted on Posted in Business

Starting any business has a price, so you need to determine how you’re going to survive.

1. Think
Sit down with a pen and paper, make a list of all the things (businesses) that you would love to run.

2. Write down major skills needed to run those businesses, Ask yourself if you have got any of those major skillsets.

3. Cancel out the ones you are not good at for now
Every new business starts with an idea, but to excel, you must be knowledgeable and passionate about it.

4. Build a business plan
Now that you have your idea in place, you need to ask yourself few important questions: What is the purpose of your business? Who are you selling to? What are your end goals? How will you finance your startup costs? All of these questions can be answered in a well-written business plan.

A business plan helps you figure out where your company is going, how it will overcome any potential difficulties and what you need to sustain it.

If you are planning to make your new business your full-time job, it’s wise to wait until you have at least some money put away for startup costs and for sustaining yourself in the beginning before you start making a profit.

5. Get a mentor

6. start

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