How to start a business

Business

Business is what most of the people are heading towards in order to have good profit and income as it is good source to generate good income. Today most of the people wants to start a business to raise their standard of living. Most of the people are leaving service sectors and heading towards starting a business.
As it is more effective way to earn good name in society and a wealthy life. Today here we will learn how to start a business and run it. To start a business we need to focus on many things which are necessary to give a good start to the business. Here you will learn several things which you need to take care of while starting a business so lets start step wise step.

1.Choosing the business type

The very first step to start a business is to choose a business type with which you want to go on. without choosing a business type you cant start a business. In this step you have to choose that what type of business you want to start for example a manufacturing business, or a marketing business and from many more categories as without choosing you cant step forward as it is basic step to start a business. In process of choosing a business type you have to focus on many things like your capital budget and many more things like resources available , location etc these are the things that are important to think on while choosing your business type that what type of business you should start. So you have to choose your business type very carefully by keeping in mind about future like how can you develop it to maximum extent. all we can say choosing a business type is the base for starting a business. so go through this step with concentration and carefulness as future of your business depends on it.

2.Estimating the capital Budget

Once you have chosen the type of business you want to start you can have idea about the scale of the business and from that you can have idea about the capital required to start your business. It is very important to have an idea about capital budget to start a business as without it you cannot start your business because capital is the base of a business. to start a business you must have to make a capital budget estimation so that you can successfully arrange it for your business and can give a good start to your business without the lack of the business capital and have a successful entrance into business with a effective start of business. Arrangement of capital is the first basic thing to start a business as it is a kind on investment in a business on the basic of which you get the profit returns in your business. You can have further details about arrangement of capital as it is necessary part of a business from my article on how to arrange capital for my business.

3.Choosing a name for your business

As we all know that a business is different entity from its owner so it must have a different name by which it will be recognized. It is very important to give a name to business to start it as it is base and necessity of a business while choosing a name for business you have to keep in focus a important thing that is your chosen business name must not be used by some another previously running business as you cannot use name of some another previously registered business it is illegal you have to choose a different name and once you have chosen a name then you have to get it registered to make it copyright so that no one can use your business name for his use. Registration is a complete process which is must required to start a business as it is permission by the government to do business without registering if you start a business it will be illegal and it is a punishable offence. If you want to know how to register a business you can read about it in my article on How to register a business and by the help of it you can get you business registered and now you can move ahead with starting your business.

4.Arrangement of Land , Labor and Capital

Now you have a registered name of your business and permission from government to start your business now you have to arrange the physical resources for your business which are necessary to start a business and to bring your business in real existence. Just like Food , shelter and cloths are the basic requirement of a human being similarly land , labor and capital are the basic things required to start a business and run it without these three no business can be started or can go on. One important thing is that these three are equally important as without one other two are of no use and a business can not be started.

Land

Land is the place you need to perform your regular business activities you can take it on lease or you have to purchase it for your business. It is the basic resource to start a business.

Labor

Labor refers to the workers means human resource which is necessary to perform business activities as they are the one who are responsible to perform regular business activities and without this resource other resources are of no use is in a business human resource is only way to make use of other resources in simple words you need employees for your business who will make use of other resources in order to bring out the desired results and outcome

Capital

You already know about capital it is the monetary resource which is necessary to start a business without it you cannot have land and labor as without money you can't purchase land for your business and without it you cant pay salary to your employees.

5.Making Departments

Once your business come into physical existence you need to make different departments for performing different business activities as to start your business you need to divide work so that it will be performed more effectively and efficiently and good outcome will come from the business operation works performed. Division of work increase the concentration on every operation performed as there are different departments to focus on different operations and section so each would be performed well and also the time efficiency of the business will be enhanced. after it one more important thing is that every department must have a head and each department must corporate each other to make a business successful. Like to start a business departments are necessary as it is important to make proper and effective use of the available human resources. And under heads of their department they will work with full efficiency as they have to response about their activities to their heads this will have a positive effect on the performance of the business.

6.Five ways to manage a business :

Now you have successfully started a business the next thing is that how to run it in proper way to maximize business profit to start making profit from your business you have to concentrate on the five business factors which are necessary to run a business these are the basic factors which completes the business process so lets start with these factors.

1.Planning

planning is the first step indulged in business it means thinking in advance what you want to do in future. You can say that planning is the road map to achieve business goals. without planning you cant move ahead on other steps it is necessary to plan before implementing as without planning nothing can be done in a business for every little thing you have to make plans. Business is to achieve goals and without planning you can not achieve business goals and without achieving goals you can,t run a business successfully. To make your business successful you have to achieve pre-determined goals

2.Organizing

After the planning process of you have to move ahead with organizing. Organizing in business means arranging the required resources and things according to the predetermined plans which are decided in previous step of business that is planning. Organizing is a necessary part to manage a business as it is required to go on for other activities without organizing you can not move towards your objectives. You must have to go through this process of arranging the things for the achievement of the business objectives.

3.Staffing

Staffing is the another process included in the management of business after planning and organizing you have to do staffing. Staffing means recruiting the man force according to the need in the business in order to achieve preplanned goals. Human resource is most important resource that makes use of other resources and in staffing process you build your human resource thus it is most important part of your business as every thing depends upon the human resource means employees and labors that how they work. Their working will have a huge impact on everything from big to small everything is dependent on the human resource in a business.

4.Directing

Coming to the next step that is directing. Directing is the process of guiding the employees towards the right direction to make them function properly directing process is very necessary for every business as it helps to move in a common direction and common objectives on the same path so that business objectives can be easily attained without any hurdle in the business. If you want good outcome from your business then you must have to go through the directing process as it reduces the time to achieve the predetermined business objectives and also help to move in a common direction.

5.Controlling

Controlling is the last step or the part of the process it means to have control on resources and the activities of the business like it is necessary to have full control on the human resource to make it's proper use good control results in grater efficiency and timely achievement of desired business objectives similarly you must have control on the monetary resources as overflow and improper use of this resource can be proven to be a greater harm to the business and may be responsible to sink the business if not controlled. not only on resources but it is also necessary to have a control on the activities of the business as they matters a lot in business.

I hope this all will help you out in starting a business and after a start also in running your business just remember these thing you will surely be a good businessman you can also ask if you have any question regarding this topic How to start a business or any other thing about business ..

Regards Ayush Tyagi