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A breath of Fresh Air

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What knowledge is required to start a business is a questions most new startups ask themselves when starting a business. Here are 5 Tips to help you.

1.Sales and marketing

This requires knowing who your competitors are and how your product or services stack up. Who is your target market? You need to know a lot about Business operations like filling orders, inventory management, and customer service.

2. Book-keeping/Accounting

As business owner, you must be prepared to keep accounting books. The financial responsibilities in most cased begin before you open your business. A business owner must be able to do profit & loss projection; forecast cash-flow. and financial analysis.

3. Planning

As a Business owner, you need to make a realistic business plan. The plan needs to consider competitive analysis and Market research. It would be advisable to do a SWOT analysis to determine the viability of the Business.

4. Communication

Having an effective communications strategy is an essential skill in business. What is your communication strategy for cultivating employees, and attracting customers? How do you plan to communicate the viability of the business to investors and the media?

5. Customer Service Skills

As a business owner, you need to make time out to always be there for your customer, regardless of whether they have a complaint or compliment. This means you see each customer as a chance to do better and grow in your business.

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No Money, No Problem

How To Start A Small Business With No Money

Tips on how to get money for your business

Self-funding

You can decide what date you want to start your business and start saving towards it. It would be advisable to pick a date, about 6 months away so you are able to save enough

Sell stuff

Yes, sell those things you have laying around in the house. Determine how much you will need to start your business and have a HUGE garage sale

Friends and Family

A good way to source for funds is asking friends and Family. They are the ones that know you best, your drive and your aspirations. They are your initial champions so make sure you practice your sales pitch with them and ask for feedback. Once all is set and you are ready to launch your business, you can approach them to help with a small loan to kick start the business. it would be advisable to get the terms of the loan in writing to make sure there is no ambiguity. if they opt to be investors, make sure the terms of the investment are well laid out

Crowd Funding

Crowd funding is a great way to raise money in order to launch new products, fund special projects, fund growth strategies and create awareness about your business. These are a list of good crowd funding sites:

  • Kickstarter
  • GoFundMe
  • Indiegogo
  • Patreon

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Welcome to my Blog – The Business Advisor

This Blog is about serving and helping others with Business Advise.

The Blog will cover topics like:

Starting a business

Growing a business

Establishing a business