Everyone knows that by doing business, our life develops financially and all the rich people of the world are this businessman, but still most of the people do 9-5 jobs. Why does this happen ? The reason for this is that our previous generation did not have experience in the business sector, they used to do jobs and today we also do jobs.
If you only watch good motivational videos, you cannot become a businessman, for this you have to revise for many years because no one is going to tell you the formula of business success. There is a lot of information available on the internet, but it is our biggest problem to identify the right information in it and mostly we get wrong information only.
Due to lack of business knowledge, we are afraid to start business and we are told that it takes a lot of money to do business. Doing business is very risky, due to many misconceptions in such a society, someone wants to do business but does not start.
If you go to ask advice about business to anyone, then he gives disappointing information, so that you spend your life as it is going on thinking that doing a job is a good option. So here we will see how to set up the business from the beginning and how to decide in which area to do business.
The decision to start a business is the most difficult.
There is a lack of business culture in our society, so when we want to start a business, first everyone opposes. If you go to an established business mind to ask for advice, then he already tells that there is no fun in this business as before, we want to start another business.
This is the problem of starting our business, so there should be strong faith to start the business and start the business as soon as possible so that when the responsibilities increase in the future, it becomes difficult to do business.
Business Government Registration and Policies –
After deciding to do business, many people do not know why they should register their business, that’s why they do the same business for years without registration. In this too, how many types of business registration are there and it is not known which registration will be beneficial for me, so most of the businesses are done in proprietorship which do not grow in future.
Misconceptions are spread in the society for partnership business, so no one wants to do business in partnership, but this option is very correct for those who do not have capital but have ideas and those who have capital but do not have ideas. We miss good opportunities because of not knowing what the government’s policy is for which business.
Which business to start? –
Once you have to do business, it is certain that which business to start is the most important decision. Good profit margin, less investment, good knowledge, it is also necessary to see how the future of the business will be. The problem of most people is that there is no money to start a business, so choose a business that requires less investment and more skill.
There are four main types of business
- production based business
- service based sector
- Trading / business based business
- Mishra Business (Hybrid Business)
Starting a business based on production requires a lot of experience and money, so doing this business is a very difficult task. To start a business in the service sector, capital is much less than in the production sector, but for this it is necessary to have knowledge and expertise in that sector, for which one has to invest money for profession and good education.
To do business in the trading sector, it is necessary to have knowledge of the market and the art of selling, and work is done in this business on less capital than in the production sector. The big business companies do not have any problem in doing business in any of these areas because they have capital and expertise available on a large scale.
Profit of Margin and Competition –
For our capital capacity, we saw which business should be done, for which we told four areas. After this we need to see what is the most important margin of profit because in the business we will see 200% profit giving business and 2% profit giving business also, so it is necessary to amend it. We have to understand this reality that the bigger the company is, the more the profit will be and the smaller the business, the less the percentage of profit.
We have to see which business has more competition in the market because the margin of profit depends on it, the more competition there will be for that business, the less profit will be. That’s why both the profit margin and the competition in the market are dependent on each other. The competition to win will be less, it will be safe for you to do business, but for that we need to have good skills and knowledge.
In today’s era of technology, we see that the owners of Google, Amazon and Tesla are very educated and intelligent, so in future we will see the trend that the more intelligent you are, the more you will benefit for business. Earlier in India, if business was done in the family first, then that business secret was a boon for the next generation, but today the situation has changed, the market is changing all the time and it is necessary to be intelligent and updated with it.
How to collect information about business –
Now-a-days it has become easy to collect any information through internet, earlier it was very difficult to do business and the family whose business was there used to give its formula like a business secret to its next generation, today the situation has changed. Opportunities like today have not been available to any human society in thousands of years, before this, if amendment was to be made on any subject, then whole life had to be put at stake, to collect information, it is very easily available today.
Due to the revolution of internet, information is so available that it has become difficult to identify which information is correct and which is wrong, but information is available, it is the biggest thing. Through YouTube videos and many other business websites are available on the Internet, with this you can create your business strategy. We get to see many platforms like cloud computing, digital marketing, blogging, AI which we have to understand.
If we can’t change ourselves according to the situation then we can’t do business of this new generation so it is necessary to stay updated in internet and technology and study on such market. Elon Musk, despite having no knowledge of this company, SpaceX, studied it with the help of the Internet and gave the world the most important modification, which showed that rockets can be rebuilt and started work to make space travel normal.
How to raise investment for business ? –
Many businesses in India are run without government registration, whose paper value is zero and those who do register business are mostly registered in Proprietorship. The one who has capital starts the business and other people have to work without capital.
Due to lack of knowledge about how to raise capital for business, and a good business plan or project can also provide you money for business, but due to lack of knowledge, we are not able to do this. There are many financiers in the market whom you can convince for investment only by telling them the business plan.
You can fulfill your business dream by doing business on partnership, in this you can start business by making a business plan and other partner’s money and making a legal agreement with it. There is a problem in starting a business only in the initial days, once your business starts, the bank also provides you a loan. New startups can also raise money nowadays by listing the company in the stock market.
That’s why initial business setup is difficult but if your business plan is good then anyone can be ready for investment.
The difference between risk and probability has to be understood –
The one who understands the difference between risk and possibility for business, it is not very difficult to be successful in business. This is called risk and probability, it is necessary to increase knowledge to reduce risk and this increases the probability of success.
You can acquire this knowledge by reading books, attending business seminars, studying big businessmen. The working man is very afraid of taking this risk, yet he spends his life in tension, so doing business with good knowledge can be a good decision.
How to revise on business ? –
His success in any field lies in his strategy, for which more time should be given than the action plan, so that the action plan can be successful, it is called a blue print, or a project. You can collect winning information for business, do that and analyze it and bring it into reality, which reduces the risk and increases the chances of success.
Due to this, how much competition is there in the business, how the future of the business can be, how much profit can be obtained, how much money has to be invested for the business, how to make that money available, we get many such questions and answers from the amendment. The most important reason why the biggest company in the world dominates the market is that it spends the most money on research.
Companies like Google, Apple and Tesla are proposing their supremacy in the market because of their innovations. Through modification in this, technology is an important part for dominance, on which big companies spend a lot. There is benefit from doing traditional business, but the big benefits that you get are because of your unique technology.
Success formula of business –
It is necessary to give at least five years to any business to be successful because those who enter into a business without preparation only on the basis of money, they stop the business if they do not get success in the first five years. That’s why it is very important to have patience in business and it is necessary to collect maximum information and stay updated. In five to ten years, you automatically understand the nuances of that business through practice.
Due to man’s lack of restraint, many businesses get closed in the first five years. Man’s fear is the cause of failure in business and its treatment is to collect maximum information, due to which more information is available about the business and fear is reduced, this is called the law of probability.
Online Business future –
In the coming time, the whole industrial world will come on the online platform, so this very cheap option will be available to you, for which you do not need much investment, you can earn money only through computer, laptop or mobile, in this through social media or by creating a website. Can start business. For this, if you have expertise in any subject, then it will be your capital.
In this, mediums like Affiliate Marketing, YouTube channel are available for which very little investment is required. Investing in the share market would be a very good option to do business but it would be good to do it in the early days of your age because it requires time and restraint, with this you can increase the knowledge of the share market.
In this way, we looked at how startup business can be started here. Due to lack of business culture in our society, everyone dreams of getting a good job from their early days. Those who get a government job or a good private job, whose salary is good, whose number is 20%, the rest of the people struggle for money throughout their life.
Our education system also produces good servants from good education. Due to non-availability of business mind preparation education in basic education, most of the people find it very difficult to do business and live a life adjusted life on low salary but business We do not take the risk of starting, this is our truth.
That’s why it makes your knowledge easy to do business, which you can get through many mediums today. One of which is our article so that you can get inspiration to start a business.