Prerequisite for Starting a business
Starting up a business requires lots of things to be ready before one can venture into the business proper. In a situation where you need a physical address where your customers can come and meet you for your goods and services, you will need to rent a house/shop/warehouse before you can start the business.
Before you get to the level of getting a shop for your business, you need to have a proposal for your business. The proposal will contain all needed information about you business, including the name you want your business to be.
There is an adage that says if you fail to plan, you automatically plan to fail. In other words, if you don't a detailed information about your intended business written down as a guide to your business, you will be likened to a man who wanted to test the depth of a see but use his two legs. in such a scenario, the man will end up confirming the depth of the sea with his whole body hence killing himself in the process.
What is a business plan: I remember vividly the first day i wrote a business plan. After writing the plan, i met a business plan specialist who condemned most part of my write up. This gave me the opportunity to go back, re-plan and rewrite the business plan. This rejection of the written business plan continued until i was given a pass mark to the business plan. That made me understand on what a business plan is and what should be contained in a typical business plan. That being said, i can boldly say that a business plan is a written document that contain all the details of the business. This details includes but not limited to:
1) Intended location of the business
2) the intended business name
3) the financial implication of the business
4) how you plan to source for fund
5) your intended customers
6) the expected competitors
7) Short term plan for the business
8) long term plan for the business
9) your backup plan in a case the business did not go as expected etc
The above highlights is just to mention but a few.
After getting the plan ready, you will need to register you business name. Sometimes it is preferred to register your business name before writing your business plan. This is because you might finish writing the business plan and notice that the intended business name is not available for registration. That is just the major reason why you will need to register your business name first before writing you business plan/ business proposal.
Why do you need to register your business name?
Registering your business name helps you to personalize the business name. If you register your business name, you will be guaranteed that no other business name can be same with yours.
Registering your business name makes people know that you are genuine and is ready for business.
N/B: People make some background checks on your business before they finally decide to patronize your business hence the need to register and personalize your business name.
After getting your business name, business plan and intended business location, the next will be to create an online presence. You will need to create a social media handle for your business, This will help you promote you business more and then grow faster in your new line of business.
After getting all the needed tools ready for your business (business name registration, business plan, social media handle, social media handle setup, business location and shop etc) you will need one more thing "WEBSITE".
Website makes your business look more professional and makes you have an email bearing your business name, example contact@ghentech.com with ghentech replaced with your business name.
Website helps you provision your staff on your website domain and provide them with an email bearing their name (e.g, Patrick@ghentech.com).
Website helps your customers know that you are not there to scam them. It makes your customers know that you are fully ready for business.
Website is a place where your customers can look up for more details about your business and with the information you provide on your website, they will be convinced about your business and will be moved to contact you for business.
Website helps grow your business faster and i recommend BLUEHOST
The web hosting provider is cheap, you can do it yourself and they have 24/7 customer support.
You can check out the website and then decide if you want to create your website with them or not.
If you are yet to start your business and you already have a business name in mind, there will be need to head over to BLUEHOST and confirm that the business name you want use as your website name is still available. It is advisable that your business name bear same name with your website. This makes your business look more professional.
When all the above prerequisite is ready, then be rest assured that your business is fully ready to operate.
If you have any question, comment or clarification, feel free to use the comment box below.
If the article is worth your time, please consider subscribing to our YOUTUBE CHANNEL.
0 Comments