6 steps complete guide to start a business from scratch

If you’re looking for a ready-to-go business idea, you’re in the best place. We are Business Consultants in Bangalore, India. Our work strategy revolves around building the new business ideas from scratch, working on the pre-existing business models, etc. My resources collections have a collection of articles that will help you build your business with the best practices, on how to get started; all the industry trends and tools that would help you grow.

To start a business from scratch, we have a following 6 steps guide for a better understanding:

1. Evaluate the idea and research your market: The very first thing to think is “Why do you want to start a business?” The answer to this question will lead you to the kind of business you want to start. Once you know the answer, the next is to evaluate the idea from different perspectives such as
   1. Do I have the skills to work in this field?
   1. What would be the targeted audience for this business idea?
   1. Does the level of work going to shoot up in the graph in the future?

 By researching the market, we mean to say “Is anyone else doing the same work you want to start?”  Things you can do in market research are:

1. Search for your potential rivals or partners
2. Surveying people( known and unknown)
3. Conducting interviews
4. Going through online and offline resources

• Build a Business model that generates ROI: After setting up the business idea, the succeeding step is to build the business model. We would help you create the best model with the best resources and tools. Our aim of setting the business model is to generate a good ROI (Return on Investment). Building a model would consider:
  • Finance your business
  • Finding a location
  • Finding your business team
  • Starting the sales
  • Growing up the business

A good and powerful model automatically brings a good ROI. This would instinctually lead the business to new levels.

• Register your business and make it official: Once your work is ready-to-go air, you need to get it registered. It is very important to get all the legal aspects cleared from the way as early as possible. By this, you don’t have to worry about anything you never saw coming. A quick checklist of these legal things might include:
  • Business name and structure
  • Register your business
  • Permits & Licensing
  • Trademarks, copyrights or patents
  • State & Federal Tax ID

• Building product/service: After finishing up all the legal work, it’s time to bring your idea into reality. For building up the product, it is vital to understand its manufacturing process, people required, technical team, non-technical team, etc.
• When developing a product, the things you should focus on is simplicity and quality.
• A straightforward product design: your product has to capture people’s attention very quickly. Product packaging should be clean and compelling too.
• Don’t skimp on material: It is not always necessary that your price must be the lowest. A good price with best quality and reputation is what is appreciated most 
• Don’t overstock: It is very important to understand the market nature. If you think you can sell 50 products, then there is no use of buying 500, because tying up all your capital in inventory can take your company to the bottom.
• Keep your ideas safe: There is a law called Intellectual property laws that can protect you and your idea and ensures that it hasn’t already been patented or trademarked.
• When developing a service, it is different. People are willing to pay you for your skills. For that, the following would be helpful
  • Create a portfolio of your work
  • Create a website to show-cast you previous work.
  • Make surety of your certificates or other educational requirements as anybody could ask you for them anytime.

• Shape your goals distinctly: Make everybody clear in the team about the mission and their responsibilities.
• Hiring protocols: You must be very much clear about whom to hire with what qualities and what all things to ask to judge them for your company.
• A powerful company culture:  A strong culture is all about respecting and motivating employees through different ways such as training, mentorship, perks, etc. such that they are always attracted to stay in there.
• Creating a Website: A website stating all about your business. Also, you would be able to sell your product/service worldwide which would help to grow your business.
• Digital marketing: This brings the flow of targeted traffic of the customers to your business. Not only bringing in the traffic, but the quality traffic which will engage and convert more.
• Customer rearrangement: This is an emotional connection between the customer and the company through various channels. This shows how customers feel about your brand. When executed well, a strong customer engagement strategy will foster brand growth and loyalty.

So, if you are in a situation where you know that you have interest in business, but have no idea about what business to start, you will get the Business Ideas here for your startup based on:

1. Your area of interest
2. Requirements of the business
3. Expectations
4. Targeted audience
5. Expected affordability to spend

Hence, a strong plan is needed to get the most out of a business idea. I can help you in taking your business to the next level starting from scratch; I will be along with you on all the stages of your business growth. Be it of any kind, we will take you through the finest route leading to the prominent results. Book your free consultation for 30 min and get your business next level. Visit www.nitishkannantha.com