How To Start A Business, Step-by-step Beginner's Guide

TheIndonesia.id - Starting a business is a big question for beginners, like what to do in the first step. This article will show you a step-by-step guide to building a business.

Business planning does not necessarily make prospective entrepreneurs mentally discouraged. On the other hand, a business plan is an anticipation of the best or worst conditions. Here are five tips on how to start a business for beginners as quoted from Suara.com.

How to start a business

1. Find a Business Idea

All businesses such as opening a store or a great home-based online start with an idea. To find ideas, try asking yourself what skills or expertise you have and what fields you have studied. You can also read market opportunities by seeing what the people around you need.

2. Find What to Sell

Once you've developed an idea for what type of business to start, the next step is figuring out what to sell. For example, a product or a service that can be done with your capital. The key is not luxury goods, but what is needed by society.

3. Obey the Law

Before launching a business be sure to comply with the law. One of them is to avoid fines or legal problems, for example not being able to steal logos from other traders, and not patenting existing trademarks.

Aspiring entrepreneurs need to check their own country's legal requirements before starting a business because laws vary and are very likely to be updated. Take advantage of the Office of Cooperatives or the Office of Manpower to fulfill administrative requirements before opening a business.

4. Do Market Research

If you want to do any type of business, legal market research is mandatory. Prospective entrepreneurs must gather information about the market to be entered, competitors, and potential customers. It is an important step in starting a business because it will help determine if there is fair competition for the business to be run.

5. Define Target Buyers

Target buyers are groups of individuals who share similar characteristics or needs and want the business to serve. Therefore, they are more likely to buy the traded product or service.

The easiest way to determine targets is to group them based on age, demographics, and economic level.