How to open your business from scratch? Practical recommendations

Most of us have known since childhood that we need to study hard, find a job, go there five times a week and get paid there. Maybe this sounds a bit naive, but many live like that - from paycheck to paycheck, considering how much money you need to spend on food, on housing, on other expenses. Perhaps there will be something to rest.

But sooner or later, we are thinking - should we go about our own business? How to open your business from scratch?

The first thing that comes to mind is various development options, possible incomes. However, before you open your business from scratch, you need to answer the question - who in specific conditions and why you need a product or service that you want to produce. Surely an analogue in this market already exists, therefore, you can conduct a detailed analysis: who sells it, where and at what price. Determine the cost of the product and conclude whether it makes financial sense to engage in the sale of goods or the provision of services in this competitive environment.

The next step in resolving the issue of how to open your business from scratch is to search for cash injections, or, more simply, sources of financing.

These may be:

1. Attraction of co-investors. This option, at first glance, is most interesting, because you can get the amount that is missing to open a business without any kind of overpayments and other pitfalls. The flip side of the coin is the possibility of disagreement with partners, and as a result, most often - collapse.
2. Bank loan. In order to get a loan at a financial institution, you need to provide a detailed business plan and convince lenders that working on the project will allow you to pay current expenses and pay off debt obligations to the bank.
3. Government programs to support the development of private business. As in the case of the bank, here you will have to answer questions and prove the potential success of the business. It’s not possible to get money quickly (state programs after all), but, compared with the same bank, the conditions here will be much more loyal.

Best business ideas from scratch 2013

A few words about which start-ups were the most profitable in 2013.

1. Private mini-bakery. No matter what trouble occurs in the economy and political life of the country, you always want to eat, as the saying goes. Bread is the head of everything, and today it is still the No. 1 product on the table. And, of course, I want to eat delicious bread, not the one that is gathering dust on the shelves of grocery stores, but fresh, right from the oven of a private bakery.
2. Repair shop. Another illustrative example of how to start a business from scratch. We are returning to the same unstable economic situation. Not everyone can buy new clothes and shoes for the whole family several times a year now. The situation in the country did not fail to affect the level of income of citizens. Instead of buying a new thing, we are increasingly turning to the workshop to fix clothes or shoes, a bag or a school bag, respectively, this type of activity will be doomed to success.
3. Shops renting baby items. Clothes, toys, bicycles, strollers - all this is bought for a child for a short period of time and is not used later. Now there is an opportunity to rent all the necessary things, which is what domestic citizens hastened to use. Therefore, there is every reason to assume that this is another telltale example of how to open your business from scratch.