Why To Have Own Business?
Every year thousands of tech graduates are passed out of universities through out Pakistan. Current industry of Pakistan is unable to accommodate such a large number of graduates which results in increase in unemployment. Even people getting jobs have to work at very low salary just to make through it. This whole situation leads to the path of starting your own business. Following sections will give you an idea of how to start your Own Business.
- Requirements To Start A Business
- Business Opportunities in Pakistan
- Which Business Is Suitable for You
Requirements To Start A Business
Most people believe you can not start business unless you have a large amount for investment. Yes capital is required to establish and grow business but it is not impossible to start a business with little or no investment. We have summarized a few things which are key for a successful business
Of course there might be some other factors but these are the minimum requirements to start and run a business. As planning is necessary for any task to be completed so is true for a successful business.
Here is a quote by Ziad k. Abdelnour “The odds will always favor the man with a plan” . So first thing in a business is proper planing. Ask following questions to your self, this will help you plan for your business:
- What you are going to offer?
- Why are you offering? Do people need it? Does it going to bring change to community?
- How you are offering?
- Do you need a team for this
- What skills should your team have
Answering these question will make picture more clear for you and you will be in a better position to make decisions regarding your business.
After planning next step is implementation. most of the people waste too much time in planning and just planning. they fear to take risk doing something new and it just ends up. So after planing just start working on implementation. Contact with people who are already working in your selected area of business. Learn from their experience like what did they do wrongly and avoid such actions to lower chances of failure.
Once you are ready to sell your product/services, start working on marketing strategy. Understand your target market and prepare yourself accordingly. Get to know about your competitors and their strategy. Most important thing is you should never compromise on quality of your products/services. If you offer good quality products/services people are going to recommend you and there is no better marketing than word of mouth.
Another important thing in your business is that you will have to show dedication to your business. Dedicate almost 8-9 hours for your business daily.
Last but not least consistency is the most important factor in the success of a business. People loose hope after a couple of failures and stop working on their business. You should take failures as steps towards your success. Think it like that: you have to go to 2nd floor and after taking 4 to 5 steps you just stop. Would you be able to achieve your goal of getting on 2nd floor unless you have taken all the steps to be there? Same is the case with success and failure. Unless you have taken last step of failure you are not going to be successful.
Next article “Business Opportunities in Pakistan” will cover different business options you can have while living in Pakistan.
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