The Small Business Handbook: A Guide to Creating a Successful Small Business

The Small Business Handbook: A Guide to Creating a Successful Small Business
ISBN-10
1500217654
ISBN-13
9781500217655
Series
The Small Business Handbook
Category
Business & Economics
Pages
38
Language
English
Published
2014-06-18
Publisher
CreateSpace
Author
Allan Dithan Mugisa

Description

Most small businesses do not survive the first two to three years in which they are introduced. The handbook takes you through those fundamental measures necessary not just to create a successful small business but also revive one that may be on the verge of collapsing. The most important and the first decision you have make before you start a business is to define exactly what you will be doing. Tips on How to Generate a Winning Business Ideao Come up with an entirely new idea.o Look for something that has not been produced or done, yet there is huge demand for it. Think about the inventions of the telephone, computer and light bulb, all of which are essential to our existence now, but were mere ideas at one point.o Improve on an existing business idea. You may not be able to come up with an idea that is entirely new but can think of a way to improve on what already exists. For example, the person that invented the original telephone is not the same person that came up with the touch screen technology which most people enjoy todayo Choose an idea where you have a comparative advantage. Comparative advantage occurs when you are able to produce a good or service at a lower cost than your competitors. o Choose an idea that you can easily spend time on and be prepared to give your business enough time to grow. The process of creating a successful business takes a while so be prepared to spend at least 10 years while developing your venture.o Pick your business name wisely.o Consult with a Professional. Even if you don't have sufficient resources, it is important to contact a professional to assist you at every step in your business. Other topics in the book center on the topics below; * Have you registered your business with the relevant authorities?* Where and when to seek funding for your Business?* How to invest in the appropriate tools and machinery?* Do you need insurance for your venture?* What to consider before you decide where to sell your product/service.* Is your Business environment organized?* How to handle employees and get the most from them? * Show your business exists and set it Apart* Do you document your business activity and if you do what do you include?* Should you offer credit to your clients?* Is support available for your Business?The author fully appreciates the challenges and struggle that small business owners in world have to endure on a daily basis. Therefore, small business owners should focus on these time tested measures in order to create a successful small business.

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