How to start your own small Business

How to start your own small business

before starting the project

There are several steps that must be followed before starting the project, including:

  • Searching for a project idea: .Searching the market for a project idea will give an answer whether or not there is an opportunity to turn this idea into a successful business, and by searching it is possible to collect information about clients and companies that are already working. . . in the same field, and this information is used to find an advantage. competitiveness of the commercial activity.
  • Writing a business plan : The plan is the basis of the business, as it is a roadmap for the individual on how to organize, operate, and develop his new business, in addition to convincing people who work with him or invest in his company. a good choice.
  • Project financing : The business plan helps to know the cost that an individual will need to start his project, and if this amount is not within reach, he can collect capital  or use other means of financing, including:
    • Small business loans.
    • Encouraging others to invest in the project.
    • Ask for help from family and friends.
    • A personal loan from the bank.
  • Choosing a suitable location for the project : The location of the project is considered one of the most important decisions that are taken, as this decision may affect the taxes that will be paid, and other legal requirements, as well as the level of revenues.
  • Choosing a project name : It is preferable to choose a name that reflects the brand, and also reflects the personality of the project owner, and he will also need to make sure that the project name has not been used before.
  • Registering the project : Registering the project means making it legal, as this protects its trademark in the future.

How to make the project successful

There are several things that contribute to the success of the small project , including:

Focus on customer service

A survey conducted by American Express showed that 78% of consumers canceled their purchase due to poor customer service, and other studies also showed that the company should compensate the customer for one negative experience doubly, meaning that if the customer gets one bad experience, the The company must He is compensated not once, but several times to ensure customer satisfaction.

Building a good reputation for the project

A good reputation is one of the most important things for the success of any project, whether the project is in a small community or in a large urban center, because most consumers look for a good reputation or service before shopping on any site, so building a Good reputation is an important and effective factor for the success of the business or project. . [3]

Post the project online

It is necessary to create a website for the project, and also a page of its own must be created on social networking sites, as this makes the product spread quickly, and some studies have indicated that more than 70 percent of consumers buy goods and services via the Internet before purchasing from Shops in the regular markets.