At times, I hate to do job because of the simple reason that the areas that I can cover in my job are so limited. Most of us will agree that managing a business having 25 people is tougher than managing a project having 50 people. I mean it’s a different game altogether. You just can’t compare the two. I always wondered that if I can manage 25 people in a job then can I kick start a small business consisting of 5 people. I will tell you both require completely different competencies and mind-set.
Since I am into software industry, I was thinking to get into a software business as it blended into my competencies. Now there are 2 ways of going to the public in a software business. The first one is by providing your services and the second one is by creating a software product specific to a niche. For projecting yourself as a software service provider you need to have significant skillsets and must be tuned with the latest technology. There is a lot of competition around and you are required to be a lot more competent and economical. Creating a software product is a tough way around. You really need to understand a particular business domain and then build a product that helps the business to make tasks significantly easier. The product has to be generic to the business domain.
Now how do you really start a business?
You need to understand the business dynamics and start from the base level. First find out whether you want to enter into the services or the product sector. Second, you need to understand the basic raw materials required by the sector. Technology, machinery, tools, resources and infrastructure are the most crucial parts of any business. You need to create a great business plan. This will help you to understand your base and surplus expenses for procuring the essentials. You will need to identify your risks and constraints and define a well strategized risk plan. Robust plan will help you secure a loan from a suitable financial provider. You will need to prove your concept and business idea and show its value proposition to get a loan approval. After the formalities are complete, you really need to ramp up the basic resources. You will have to take care of your operations quite effectively to succeed in any business endeavour. Hiring quality staff is a must.
These basic steps would help you to start a new business on your own.
http://expertscolumn.com/content/do-freelancing-only-where-you-are-naturally-inclined
http://expertscolumn.com/content/do-adf-schemes-really-benefit-home-buyers
http://expertscolumn.com/content/how-choose-under-construction-property-investment
http://expertscolumn.com/content/laws-punish-without-adequate-proof-can-only-create-anguish
http://expertscolumn.com/content/who-are-your-fake-plastic-friends
http://expertscolumn.com/content/suicide-cowardly-act
Since I am into software industry, I was thinking to get into a software business as it blended into my competencies. Now there are 2 ways of going to the public in a software business. The first one is by providing your services and the second one is by creating a software product specific to a niche. For projecting yourself as a software service provider you need to have significant skillsets and must be tuned with the latest technology. There is a lot of competition around and you are required to be a lot more competent and economical. Creating a software product is a tough way around. You really need to understand a particular business domain and then build a product that helps the business to make tasks significantly easier. The product has to be generic to the business domain.
Now how do you really start a business?
You need to understand the business dynamics and start from the base level. First find out whether you want to enter into the services or the product sector. Second, you need to understand the basic raw materials required by the sector. Technology, machinery, tools, resources and infrastructure are the most crucial parts of any business. You need to create a great business plan. This will help you to understand your base and surplus expenses for procuring the essentials. You will need to identify your risks and constraints and define a well strategized risk plan. Robust plan will help you secure a loan from a suitable financial provider. You will need to prove your concept and business idea and show its value proposition to get a loan approval. After the formalities are complete, you really need to ramp up the basic resources. You will have to take care of your operations quite effectively to succeed in any business endeavour. Hiring quality staff is a must.
These basic steps would help you to start a new business on your own.
http://expertscolumn.com/content/do-freelancing-only-where-you-are-naturally-inclined
http://expertscolumn.com/content/do-adf-schemes-really-benefit-home-buyers
http://expertscolumn.com/content/how-choose-under-construction-property-investment
http://expertscolumn.com/content/laws-punish-without-adequate-proof-can-only-create-anguish
http://expertscolumn.com/content/who-are-your-fake-plastic-friends
http://expertscolumn.com/content/suicide-cowardly-act
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