5 Most Important Things To Choosing a Best Business Idea

5 Most Important Things To Choosing a Best Business Idea 

Every Business needs a best possible Business plan. Plaining Businesses need Planning, creativity, soul Researching and being Aware of local market.
You're not getting the results that you expected from your business, perhaps it's because of your not researching on your business plan and non-consciousness on planning your business to grow.

Creating a business plan is very important for any type of business, studies have shown that people who plan their business for next 5 years and on, they will easily get best possible results than people who don't.

Here are few important things to follow when creating your Business plan. (Don't forget the Bonus point at last)

1-business idea according to your skills, experience and passion.

We Often hear that, "Do what you Love".
 It's right if you are using it consciously. If you want to start a business you have 0 experience in the field. You are just trying to kill a dragon with a pillow.

Well, if you haven't enough knowledge about what you're going to do. Its better to stop and rethink about it.

The honest advice we can give you is to first learn about your business then of course start.

If you aren't planning your business bassed on your skills, talent or knowledge chances are at some point when times get tough you will give up. And its normal.

Plan your business bassed on your skills and passion, because you better knows your mindset than others.

  • What  things you like to doing for a long period of time?
  • What are the things you are good at?
  • What are the things you are passionate about?
  • What are the things you have better experienced?
  • What are your skills?

These above Questions will help you to write a better long-term business plan.

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2-business idea that fits people's lifestyle 

People are the most important part for any type businesses. Your 100% customers  are people, your 100% employees are people, if you don't know people you don't know business.

Your business must be suitable for people whom you gonna deal with.
Your business must be attached with your customers lifestyle. And the trick is your product or service must be improving your customers life.

Find an idea that helps people with their daily activities, or at least something that makes them feel good about themselves.

If you are going to sell something to them,  then you should follow my quick rules.

  • Your product must be valuable for them, not for you. 
  • Your product must suits their personality. 
  • Your product must be making easier their efforts (time or energy) .

3-test your business idea by market research, reviews and public opinions 

If you got some ideas according to your passion or skills and your services or product that are suitable for your customers then you should go on to the third step, and the step is to researching your local market where you wanna start your business.

To me researching the market is the most powerful weapon to boost up your business among all of your competitors. By doing this you are being able to know the real value of your product, you will know with whom you're going to compete, and how much market is in need of your products.

If their is any golden charm in business to grow, then it is to researching your market before you start.
It will tell you the truth, it Will tell you the lies. And it depends on you either you will waste it or you will make your way through it.

4-you have to analyze the compitation for your business idea

Well, this step is a part of step 3 because in step 3 you analyzed market and knows your competition. But in this step you will analye competition for being the first choice of customers.

In almost every marketplace you will face competition, and if you play like they are in game you will lose the game, it's common sense you have to be different from your competition so people will choose you not them. But Question is how different?

Maybe if you be different from your competition then your products are being worse and no one wants to buy junk.
That's why it's so important to analyze your competition for knowing what steps you should take so the people will choose you.

Your product directly seprates you from your competition but it is your choice, how you will improve your product and make it better from the rest of your competition so people will come to you.

5-business idea according to your financial budget 

If you've set up every thing right, according to your passion, according to your market research and your product is better then everyone else's, but your budget isn't enough for your ideas then your all the ideas are just thoughts.

Your plan must follows your budget as other steps. Your budget will describe you and your product in the market. It's so important to make a plan according to your budget and divide your budget into different sections for your business. (Startup cost, product cost, advertisement, etc)

Bonus Step.

6-Be Conscious For What You Are Doing 

You must be able to identify your situations and you have to take action according to your situation. You cannot depend on someone else's tips for your business, you must have to develop your on understandings what to do, when to avoid, when to start and when to quite.

Your situations are different from others you cannot run your business with just other people's opinions. If you do, then you aren't on the track of success.

If you are about to start your Business, first we will highly recommed you to read this book.
The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future

Cheers:  Ghani Mengal
5 Most Important Things To Choosing a Best Business Idea 5 Most Important Things To Choosing a Best Business Idea Reviewed by Ghani Mengal on February 15, 2019 Rating: 5

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