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It's a very good question because it's very important for every business man first we think before started any business.
In my opinion we say only little word for success and this magic word is
"5M" MONEY, METHOD, MAN, MATERIAL, MACHINE
If we follow this method so we can saw organization achieve top level.
Starting your own business and taking the plunge can be daunting, but help is here. With this set up plan, you will feel equipped and ready to take your idea to the next level. From market research to financing your business, this guide contains six key points to help you start your business.
1. Do the market research
2. Make a business plan
3. Choose the best legal structure for you
4. Build the right company brand/image
5. Finance your business
6. Be legal smart
However, to start a new business, you’ll also need to deal with three very practical issues.
1. Possess the requisite skills to do the primary work of the business.
(Or if you possess only some of the required skills, you can partner with someone who has a complementary skill set.)
Related: To Succeed With Your Small Business Avoid These 5 Mistakes
It may sound like remedial counsel to say that before starting a business, the owner should ensure that he or she could do the primary work of the business. Yet, we've known many people who have charged headlong into an entrepreneurial venture without having thought this issue through clearly.
One most often overlooked and necessary skill is the ability to sell. For most startups to survive, the owner will have to sell. It is unusual for a startup business to succeed if the owner(s) lacks the ability to do the primary work of the business.
2. Have a plan for performing the ancillary functions.
If you love baking cakes, don’t open a bakery. Get a job as a baker.
If you are going to start a company, you had better want to run a business. That means you’ll have more to do than just the primary work of the enterprise. If you are running a bakery, you’ll do a lot more than just bake. You’ll have to wait on customers, order supplies, set up a bookkeeping system and administer it. You will perform administrative functions such as accounts receivable, accounts payable and payroll. You’ll probably need some sort of IT infrastructure. The list goes on.
Related: 4 Basics for Making the Move From Corporate Job to Entrepreneur
These functions are ancillary to the core business. However, they are not unimportant -- quite the opposite. Getting these ancillary functions right is critical to the survival of the business. Yes, some of the ancillary functions can be outsourced, but you’ll need a plan to do each of them.
3. Realize that growth means you will have to let go.
Perhaps you are contemplating going into business because you are passionate about doing the primary work of the business. Good, you’ll need that passion. Still, you must remember, if your business is successful, it will grow.
The time will come when you’ll face a choice. You’ll have to delegate doing the primary work of the business to others, stop growing or hire someone to run the company while you continue doing the primary work of the business. Before you launch your new venture, know which path you’ll take. Be prepared to deal with success.
Starting a new business is an exciting journey. As with any journey, prior planning can help you avoid disaster. Make sure you have thought through the three critical issues above.
Related: Couch to 5K? No Way. To Get Traction for Your Startup, Get Out There.
my power
budget and how long time i can pay money till i start to collect revenue
my goals and plan
