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dannyboy
02-11-2014, 05:44 PM
What would you say are the most important principles to follow when it comes to starting a business? What principles should an aspiring business owner be consistent with in their approach?

owesem75
02-16-2014, 10:37 AM
My approach is to start small and grow from it. Obviously, this is to assume that you know what kind of business you are going to start.. so in order to start well, I suggest that you start small and always consider your start up resources and your ability to sustain it. You will never know if your business is good or not until you actually start it. Some businesses may not start well in the beginning but have the potential to flourish and that is why you have to make sure you can sustain its operational requirements (and other stuff) to at least break even and then to earn income. Good luck to you.

delusional
02-17-2014, 03:46 AM
Think, think, think and then think some more. Then plan, think, plan, think and plan some more. Being prepared is the key to success. Also try to read a lot of guides and study the local market.

fredkawig
02-17-2014, 07:08 AM
I'll quote what I stated in my thread:

Businesses can be one of the most self-sustaining forms of employment to the worst kind of choice to make and end up in bankruptcy. It's just a matter of planning, perseverance, good choices and patience. In order to succeed in the entrepreneurial world, one must know how to manage a business and correctly make the right decisions in order for one's business to prosper.

The first thing that one must consider is capital. Capital is the amount of money that you want to invest in starting your own business. This is the money which you let go and the money you risk in order for you to start earning income. The amount of capital varies from one type of business to the other. For small scale businesses, sole proprietorships, you only need to invest a small amount of capital. For partnerships, big scale businesses and even corporate businesses, huge amount of capital is needed.

Now that you have capital, choosing the right kind of business is next. In this step, you must have a very good grasp or knowledge and should be very interested in the business that you plan to open. If you are not interested and your heart is not up for it, your business would likely fail. You must also have a vast knowledge of the technicalities and problems that may arise from your business and have the ability to troubleshoot and deal with the problems.

The next thing that you should have in starting and maintaining your business is patience. An instructor of mine told us before that the first year of business would most likely be a deficit. Do not expect to yield profits at the very start of your business practice, but if it does then that would mean that your business has hit a niche in the populace and would most likely be very profitable. Continue to be patient and persevere in every situation, through good or bad times and you will see the prosperity that it would bring. And lastly, always thank the Lord your God for only through his grace, blessings and favor will you be able to succeed not just in your business but in your life as well.

mikelouis
02-17-2014, 07:58 PM
Just know that there is no instant success, it will take time like any other business. Then you will need to have a unique business idea. Online businesses tend to copy from each other so competition will be high. Having a new idea will create a whole new niche and you will be the only provider.

justSaying
02-18-2014, 01:45 AM
Whenever am asked this question, I look back at my own history and come up with 3 simple instructions.
1. Keep it professional,
2. Take risks but be cautious,
3. Do what you love, if otherwise learn to love what you do.

janineaa
02-28-2014, 10:53 AM
As an entrepreneur, principles are important to stick with. Number one is to make sure it is something you love, your passion. Next is to plan each step. Learn to take calculated risks. Always have an edge. Learn to empathize with employees. Manage the cash well. Value customer relationships. Never give up and maintain integrity.

Resource9
05-05-2014, 07:19 AM
It is important to have your own set of rules and targets. This is an important aspect for establishing a business. Moreover, you cannot have a lot of time constraints in the beginning, you have to invest a lot of time and planning in developing the business.

businessgurl
05-05-2014, 12:07 PM
Dannyboy, building a business is very complex. You need a lot of advice, a plan, and people to help you. The tips below should help you find out more.

1. A Plan
If you don't have a plan, how do you know where to go? You don't! I suggest that you get together some paper, pen, and find out what you want your business to accomplish. This is what you need in order to find out where to start. Without a goal, you might become even more confused.

2. Advice
It's great that you are on forums, there is some GREAT advice here!! Advice is so important because it gives you perspective that you may not have. Read articles from Forbes, Inc., and anywhere you can find.

3. Events
You can get advice from a book or video, but what about feedback? You need events that are going to help you and get those answers. There are tons of virtual, offline, and even more opportunities (http://www.jtfoxxlive.com). Check these out to find people to give you feedback--from your home and at an actual venue.

Hope this helps!

pdbsales
05-06-2014, 05:20 PM
Hmmm, on top of everything everyone's mentioned I'd add - Track your business. It's hard to know how well you are doing if you aren't tracking it.

businessgurl
05-06-2014, 06:07 PM
very true pdbsales

Accountingpayroll
12-08-2014, 11:12 PM
Hope it will also help me in my Payroll services business established in UK.

MeenaBhattacharya
12-09-2014, 06:07 AM
Well, it sounds good that you are thinking about to start a new business. But it is important for you what kind of business you want to start. So, first pay an attention over it and product as well, which is related to its niche. Once you have decided about your product, then you should move on a perfect domain which is very important part of a business. If you choose a perfect name, then it is really beneficial for you. So, these kind of things you have to target before starting a business.

Ghany
04-19-2016, 02:23 AM
1. Be unique
2. Grow your community
3. Build great products and services
4. Have a good name and logo
5. Find your voice
6. Be consistent
7. Keep your promises
8. Stand for something
9. Empower your customers
10. Deliver value

cbcbusinessbroker
07-21-2016, 01:35 AM
I have suggestions fo you to build a business in the market. This is tough one to build a business in the market. These are the following tips that a business must be followed for build a successful business in the market.
.Keep good management
.Keep good financial matters
.Keep good behavior with their employees
.Provide them all updates facilities

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Anglinia
03-05-2019, 11:03 PM
A proper plan. Market research and Focus on your goal will help you to grow your business.

amayajace
10-15-2019, 08:00 AM
Address excuses. Countless people dream of becoming entrepreneurs, but they never do. ...
Absorb everything. Listen to what others have to say—friends, family, experts, even yourself. ...
Be a solution.

Lilykevin86
05-22-2021, 12:28 AM
Here are 16 hints for beginning a business and making it succeed. Know yourself, your actual persuasive level, the measure of cash you can hazard,