bootstrap themes

Startup and Business generation

Before you can seriously get on with the idea of starting your business you must consider your motives for starting on your own.
You may start from nothing , may be you think that you have no idea of what to start.Then remember you always have something, you have your personality, your skills and the ability to engage with others.
A new entrepreneur who wants success must use whatever he has in his hands to build the road to a viable business.

2.1 How to describe the market
Before you start any sales and marketing activities you should establish a solid knowledge of the market by making a market description.
If you don’t have a feeling of whom your customers are it becomes difficult to choose the right way to approach them.
To come very far in your market research you should know the address and the name of the customer. You must know as much as possible about your loyal customers. 

A. Who are the customers

.How many customers can there be in the market? There should be a large number of customers or small number of them, you need to know how many they are so that you will be able to satisfy them with enough product/services at the market.if the customers are not many you don’t need have to store many product because it may expire because you don’t have large number of customer to buy the product and if they are many you must have enough to give them, you may satisfy few of your customer and others may run away to your competitors therefore you may be aware of the customers in the market.

Do they live in the neighbourhood or in the urban area, in the province, in the country,in Asia or all over the world, you may have customers from different places and of course their needs will also be different, what a customer from your country need will not be what the one in another country likes and needs. So you should know how to cater your different customers with their different needs and satisfy them equally and find a suitable distribution channel to deliver products to them.

Are they men, women, kids or old people?,what is their age, what should be their level of education so that you should try to describe how do they think and know the way of communicating with them?.They way you communicate with old customers will not be the same as the way you communicate with kids and they think differently and they don’t even prefer the same things, so this will help you to know what to put on the market for all your customers?

What do they like to do in their free time, what are their free time and what do they like to do when they are free, what time do your customers would like to start buying in order to make plan about working time and hours to meet the availability of your customers?

What is their ability to pay for the product?, you should know if your customers will buy the product/services you are going to offer to them, you must know the level of your customer’s income to help you determine the price for those with high income and those with lower income and it will also help you bring to the market the product/services that your customers will be able to afford at any cost. 

B. know your competitor

In the market we also find the competitors, You have to find out about who you are competing with.What is the level of your competitor’s product? How is their turnover? How is their marketing and advertising? What are their SWOT? How is their product development?( you need to learn what others are doing and why they are doing that.)

.You need to know what your competitors are doing.you can’t say no information is available.you have to open your mind to what customers are doing ,where they are buying and how they fill their needs.People are finding your competition to buy from them,so you should be able to find them too.

.You need to gather things that should put competitor’s product/services at advantage.
.Gather the limitations,constraints the business product may face in the market but arising within the business or product itself such as bad location,few workers or poor quality product.
.Look at all the external possibility choices or advantage that may happen and benefit the business, The business may not have control over such factors since it may happen or not such as competitors failure.

.There might be undesirable happening that may occur in the market to the disadvantage the business.
.Try to figure out what you can do to snatch away market share away from your competitors.
.If you are going to open a restaurant, search for information about existing restaurant, or if you are going to build a website you need first to visit another website and look for information on yahoo,google and other social media. 

Next