ShikhaVS

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5 STEPS TO TURN AN IDEA INTO AN SUCCESSFUL
BUSINESS
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Getting
Started - Idea / Concept, Belief, Commitment
matter

• Acc to statistics, 50 of businesses dont
  succeed in their first few years and 30 fail in
  their first year.
• You have to follow systematic methods to make
  sure you start from a solid base.
• Ask yourself is whether your concept is clever
  and unique as you think.

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5 Step Plan to Implement Your Business Idea
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Market Research - getting started means doing
your homework

• Several businesses launch, but they end up
  finding somebody has already done the same.
• Do a full analysis of the market and the audience
  
• Begin your research by doing a SWOT analysis,
  outlining the strengths, weaknesses, threats, and
  opportunities connected with your idea.

5
Financial Planning - just believing you will pull
through is not enough

• Put together a financial Plan.
• Its helpful when you start and matters more as
  you grow and is is a BIG PLUS youre appealing
  for funding.
• More accurate your financial plan, greater the
  opportunity of success and raising money.
• Think about hiring a Business Plan Consultant

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The Marketing Plan - Market Planning,Audience,
Mapping,
Positioning.

• Its now time to develop your plan for the
  market.
• A Marketing Communication Strategy is the
  starting point.
• Explain why and precisely what it is youre
  marketing.
• Consumers have a very brief attention span
• Start with the benefits of your services or
  products. Remember AIDA.

7
Evaluate business at regular intervals - the
numbers and trends matter

• There is one thing you must never stop doing an
  evaluation.
• Always keep looking at what youre doing and how
  youre proceeding,
• Know the strengths and weaknesses of your plans.
• Idea evaluation is a crucial part of your
  business.

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For more details read successfully implement a
business idea.

THANK YOU