To begin with, it is crucial to identify all the strengths and weakness, as well as all the opportunities and threats before taking on any commercial activity, and creating any business; to know all your skills to develop an entrepreneurship. Following that, it is necessary to be aware of all the competition in the market where you want to startup your business, thus, you will be able to have more innovated ideas to be remarkable among all the competition and to lure the people you expect to become clients.
It is also important to conduct a sort of poll to ask people questions about what they would like, need or would be willing to pay for; to seek advice from other entrepreneurs, or research ideas online. It is useful to research the potential rivals or partners within the market as well. In addition to this, it would be really helpful to let people participate in your business or idea of business by providing opinions on what you should do or change to meet their needs.
Plus, it is important to provide good quality goods but cheaper which would attract more people.
All the business plan should be written down, starting with the name and following by the description of the company and the goals to achieve. The description should include: market strategies, for instance the target market; a competitive analysis, the desing and development plan, operation and management plan and finance factor.
