If you aspire to be a business man but just don't know how to start a business, you may well end up putting the cart before the horse. A perfect business man not only has new ideas and plans but also knows how to go about executing them in a right order. So it is always important for you to know about the indispensable aspects of a business.

Whether it is a service oriented or product based business it is always important for you to have enough knowledge about the services or product. Before you start your business you must acquire sufficient mastery and skills on the product to be rendered. This can best be done by studying and learning more about the particular product or services. Your study must be backed by market research to be in touch with ground realities. After acquiring the required skills you must prepare the ground work required to embark on a business. And this is the most essential part of starting a business. It may be a bit time consuming but you need to be patient and focused.

Before launching your business you need to get in touch with professionals such as accountants, bankers and lawyers. If required you can consult agencies that help to get new business. You can asses your business plan with them and know whether you are on the right track or not.

  • Before starting your business you need to acquire the following:
    • Business permit and License: This arms you with the government sanction to carry out your business. Other permits required include
    • Fire license permit
    • Air and water pollution permit
    • Health department permit
    • Sales tax license.

  • After you finish above procedure ...
    • Once you have the name of your company registered you need to open a commercial bank account.
    • Consult Lawyers for legal liabilities and tax considerations.
    • Insure your business against theft, fire and other liabilities.
    • Create the prefect business card to make the right kind of impression with clients.
    • Create a company logo which will catch the fancy of customers instantly
    • Hire an accountant who would prepare all your state and local tax returns.
    • Hire an attorney to protect you from legal hassles.
    • Hire the right employee to represent your business. The candidate should have good communication skills and must be hard working.
    • Get in touch with an advertising agency and ask them to come out with ideas to advertise your product or services. The advertisement should be carried out in the right places.

A large portion of your start-up capital will be spent on the above. If you have little more space at your home, you can always start your business from home. Install a computer, and get it connected to the internet. Make sure you also have a vehicle at your disposal. It is also important to purchase a printer/fax machine and a phone line, exclusively meant for your office.

Now that you know how to start business you can go about implementing your ideas with ease. Once your business takes off perfectly and begin to make profit then you may search for a shop or office.

If you have any questions or queries, feel free to ask as a question anytime.

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User Comments

  • By Shyam on November 4, 2009, 12:37 am I am an M.Sc Microbiology graduate with a business passion, I am just out of college but would like to start up with my venture. I am planning to get into an entrepreneurship course. But I do feel the need for experience. I have come to the conclusion that marketing job would be ideal to gain some experience. Can u guide me on the required exposure and how I can get acquainted?
  • By Lionfish on November 25, 2009, 5:47 am Hello, If I like to do Free lancing from home, what do I need to do. Do I need any TIN number, etc. I have a PAN card. Can you please tell me the exact steps if I want to start a business as sole owner?
  • By CR TADAV on April 27, 2010, 7:34 am Hello, I am a govt.teacher. I want to start a Hindi Magazine consisting social issues like education, youths contemporary tension, women related issue etc. How can I get registration in India? Please further advice me. How much capital will be requiring ,whether I will need any legal adviser also?Thank you.
  • By Kumar Saurabh on May 24, 2010, 11:40 am Hello, I am working with MNC. I would like to resign now and become a dealer. My accounting shall include interstate transaction, VAT transaction and service tax component.
    I also want to form a name of the company. Please advice how to go ahead.
  • By Sangram Singh on August 7, 2010, 10:22 am I am Sangram, I want to start my own business of data entry. I had completed b.tech in computer science. Please tell me how do I register my company and also the work permit and license? Please tell me all step by step. Thank you..
  • By GAURI ATRE on August 23, 2010, 8:35 am I am running a DTP center for last 5 yrs. Last year I had completed my graphic designing diploma with Arena. Now I want to expand my business in newspaper ad agency. What are the legal procedures for it?
  • By rajesh ghodke on January 24, 2011, 3:43 am I am a arts graduate of 35years old. I have a 10 years marketing experience, I want to start beauty product based small company.I want to start it from home. Is it legally right.Please tell me what are the starting permissions and legal procedures which I have to complete and from where.Please help me.

- Last Updated on May 10, 2012, 1:40 pm

- Page Created on November 20, 2008, 4:27 am

 

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