To create any business you will need a promising business idea. If you don’t have an idea, you won’t be able to open a profitable and effective business. Where to get a business idea? You can brainstorm, write down all the interesting ideas and choose the most suitable one. Also, think about what you are good at doing and whether you can make money from it.
When choosing a business idea, consider whether you have money to start a business, whether you are going to take out a loan or look for an investor. If there is no money, look for a business idea without investment or with minimal starting capital. If you have
We create a business plan
After you have decided on a business idea and decided what kind of business you will be in, you need to draw up a business plan. A business plan is a detailed description of the process of implementing a business idea with all the necessary calculations. With the help of a business plan, you will calculate the payback period of the business, find out performance indicators, etc. In addition, a business plan will be your guide in the process of starting your own business. A business plan will also be useful for finding investors or obtaining a bank loan.
Where can I get a business plan? There are 3 options here:
- Write it yourself after reading the recommendations for drawing up a business plan
- Find ready-made examples of business plans and edit them
- Order a business plan from specialized companies
Registering a business
If you have successfully completed the previous steps on the path to business, you need to register your business. First of all, you need to choose the organizational and legal form of entrepreneurship. We advise you to read the differences between sole proprietorship, private enterprise, SPD and LLC . The form of ownership affects the management procedure, relationships and responsibilities of the founders, authorized capital, taxation, etc.
Having decided on the form of business, it is necessary to go through the procedure of state registration of the enterprise. You can do this in 2 ways – yourself or use the services of professional lawyers. According to Prostopravo.com.ua, the minimum cost of legal services for registering a private enterprise (LLC, JSC, private enterprise) in Kyiv is 650 UAH. You can compare prices and order the service here . Prices for registration services for an individual entrepreneur (SPE, individual entrepreneur) start from 300 UAH. You can order the service and compare prices using the link . If you need to register an online store , count on prices starting from 750 UAH.
For more information on how to register a company yourself, what documents you need to prepare, and where to apply, read here .
Where to get money to start and develop a business
As practice shows, any business requires investments – small or large. In addition, in the process of business development, a shortage of free funds may appear. In such cases, you can apply for a bank loan. To learn about what types of loans Ukrainian banks offer, what documents need to be submitted to the bank to receive a loan, what additional costs the borrower may incur when applying for a loan, what areas of small and medium-sized businesses banks are more active in lending today, read our guide Loans for business and private entrepreneurs in Ukraine: procedure for provision . Current lending conditions, comparison of real rates on banking programs – see the rating of business loans .
Development and effective business management
Having created a business, it is necessary to properly manage and develop it. The modern world is changing very quickly, so you need to keep up with it. Be sure to analyze competitors, compare your products or services offered with other offerings on the market. Develop and improve your business. Only then can you count on good profits.
If you have a promising business idea and the desire to work, you will definitely become a successful entrepreneur. And don’t forget, when you open your own business, you bear great responsibility for its development.
Read how to effectively manage a business .
14 self-excuses that prevent us from starting our own business today
Everyone has excuses for themselves. But in the case of starting your own business, thoughts and phrases justifying the lack of such a start are very rarely true. Usually, self-justification is rooted in simple ignorance of certain things that can be found out quite simply. Jeff Hayden, executive secretary of Inc.com magazine, offers his own version of debunking popular excuses for starting your own business; translated by Prostobiz.ua
Self-justification 1. “I don’t have money to start”
As David Lavinsky says: “Entrepreneurial start is the science and art of how to manage without money, without staff and without personal time.”
You shouldn’t start your “life feast” with money “big drunkenness”; this can make you “fall under the table.” The feast should begin with a monetary aperitif, that is, a small amount that is not difficult to get. And you should eat and treat others at this feast primarily with nutritious food – your ideas and activities that improve the lives of other people.
Therefore, think through simple business ideas first – without thinking about money. Then infect others with your belief in these ideas. Then the starting investments will come to you.
Self-justification 2. “I don’t have time; I’m rushing along in the stream of a long-established life.”
Everyone has extra time. The question is that you need to give up unnecessary pastime . If you were covered in soil in a tent and had only 24 hours of oxygen left, you wouldn’t make up jokes on Twitter or watch movies, news or football on TV. You would be digging yourself out of the trap all the time.
Apply the same level of urgency. Give up what seems like a vacation but isn’t, and your schedule will instantly have empty hours every day. All that remains is to wholeheartedly want to fill these hours by starting your own business.
Self-justification 3. “Owning your own business is difficult and scary”
Every entrepreneur is afraid of running a business. And as a child, you were afraid to go to school, ride a bike, swim in a pond, fly on an airplane, experience a complex attraction for the first time, take the first steps with a computer and a new gadget, visit high mountains, show attention to a loved one, respond to a sign the attention of a loving person.
And you did all this. Overcame fear. And if we hadn’t overcome it, we would have been left without school, a computer, flights, vacations and loved ones.
Turn your fears into willpower fuel. Remember that the scarier you were, the more fun you will have when you defeat him. And the pleasure of your victory is an important driver of life (but remember here that complacency is the enemy of development)
Self-justification 4. “I don’t know anyone, I don’t have the necessary connections”
This is a ridiculous excuse these days. Using company websites, as well as Facebook, Twitter and other social networks, you can establish contact with almost any individual or legal entity important to your business.
Nowadays, all people and companies are amazingly accessible. This is one of the secrets to the success of many of them. If they don’t answer you or do anything for you, it means that they don’t know about your ideas yet. Ask yourself why?
Start by building a foundation that will convince the influencer. Remember that powerful people are besieged by requests – many other people don’t have this fear of not being connected. But most of these petitioners don’t have the compelling business idea that you have.
Thousands of millionaires said that at the start they took the risk of offering their scheme to important people – and were surprised that they received an answer.