How To Start A Business Essay

956 words - 4 pages

Today working as an employee means generally to work eight to nine hours per day with an average salary

How to Start a Business?

Today, working as an employee generally means to work eight to nine hours per day with an average salary. Therefore, it is highly unlikely that an employee gets rich quick. Above all, working as an employee also could mean to be obedient to his/her boss. This obedience from work could impact negatively the morals and motivation and the quality of an employees life. Hence, some employees dream of being independent by running their own business for accomplishing their goals such as becoming their own boss or becoming just rich.

Nevertheless, it should be pointed out how an employee can set a business after deciding to become independent. The essential thing of becoming a businessman is to be well organised and have a suitable business plan which will help a businessman to achieve its objectives.

In the beginning, it has to be defined what kind of product should be merchandized. After identifying the product it is necessary to analyze the market, namely through a market research or through a survey. In a market research it gets clear how many businesses already offer this product or service, and where the new venture does sit in the marketplace. A survey could analyze where the potential customers are and how likely they will buy the product.

In addition, an environmental analysis has to be done. For instance, if a businessman wants to create takeaway snacks with special packaging he should be aware of the impact of the packaging on the environment. Hence, ideas have to be created for minimizing eventual environmental pollution based on the packaging of a product.

Moreover, it is very important to identify the competitors for launching a successful business. A businessman should accentuate himself from the others with a special, different product. For instance, the snack-bar "Tom & Sally's" accentuate itself with its healthy, low-calorie food from other snack-bars such as "Burger King".

However, to be successful in markets in which there exist many competitors who follow the marketing concept, a well-developed marketing strategy is required. A marketing strategy should include a segmentation of market based on different consumer behaviour. Moreover, the segments of the market should be analysed and the objectives for the target market have to be determined. Consequently, the position of the product in market should be specified through the marketing-mix. For instance, Coca Cola offers different sorts of Coke-products for the different...

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