6 answers
Victoria
Student
Yuma, Arizona
1
Question
Asked
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How do I make a business successful?
How do I make it successfully, how do I know what’s the best thing to make a business for, how do I even start it up?
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6 answers
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
350
Answers
Spanish Fork, Utah
Updated
Katherine’s Answer
Hey Victoria,
The best two resources I know for building a business are:
This workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng)
And Dave Ramsey's book EntreLeadership
You might also like Ken Coleman's book From Paycheck to Purpose.
The best two resources I know for building a business are:
This workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng)
And Dave Ramsey's book EntreLeadership
You might also like Ken Coleman's book From Paycheck to Purpose.
Rebecca Tang
Banking
1816
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to become an entrepreneur. Have you thought about what industry you want to start your business?
Below are my suggestions:
1. Think about the industry you have interest or you have strength
2. Do some analysis on the industry, eg entry criteria, competition status, any alternative or substitute, etc.
3. Attend industry related courses and management courses
4. Work in the industry some time to understand the operating model and establish people network
5. Start the business online first if possible
Hope this helps! Good luck!
May Almighty God bless you!
Below are my suggestions:
1. Think about the industry you have interest or you have strength
2. Do some analysis on the industry, eg entry criteria, competition status, any alternative or substitute, etc.
3. Attend industry related courses and management courses
4. Work in the industry some time to understand the operating model and establish people network
5. Start the business online first if possible
Hope this helps! Good luck!
May Almighty God bless you!
Anthony Kofi Hene-Amoah
Translation, Editing, Project Management, Research and Evangelism
174
Answers
Jema, Brong Ahafo Region
Updated
Anthony’s Answer
Hello!
Please, note the following, relating to how to make a business successful :-
1. Acquire more knowledge in the business.
2. Transparency, Diligence, Faithfulness and Accountability in the business.
3. Look for more favourable marketing centres.
4. The need for more capital for business expansion.
5. Proper business management, especially, Team Management.
Best regards.
Please, note the following, relating to how to make a business successful :-
1. Acquire more knowledge in the business.
2. Transparency, Diligence, Faithfulness and Accountability in the business.
3. Look for more favourable marketing centres.
4. The need for more capital for business expansion.
5. Proper business management, especially, Team Management.
Best regards.
mathew Maina
TRANSCRIBER/DATA ENTRY/TRANSLATOR
1
Answer
Nairobi, Nairobi County, Kenya
Updated
mathew’s Answer
To start a successful business:
1. Leverage Your Strengths- Choose something you're good at and passionate about—this keeps you motivated.
2. Solve a Problem -Find a real need in the market that isn’t being met and build your business around that.
3. Test Your Idea- Get feedback from potential customers to ensure there’s demand before fully committing.
4. Start Small- Begin with a simple version of your product or service, then grow as you learn.
5. Be Adaptable- If something isn’t working, change it. Flexibility is key.
6. Build Relationships - Surround yourself with people who can support and advise you.
7. Keep Learning - Stay curious and keep improving. The more you know, the better your chances of success.
1. Leverage Your Strengths- Choose something you're good at and passionate about—this keeps you motivated.
2. Solve a Problem -Find a real need in the market that isn’t being met and build your business around that.
3. Test Your Idea- Get feedback from potential customers to ensure there’s demand before fully committing.
4. Start Small- Begin with a simple version of your product or service, then grow as you learn.
5. Be Adaptable- If something isn’t working, change it. Flexibility is key.
6. Build Relationships - Surround yourself with people who can support and advise you.
7. Keep Learning - Stay curious and keep improving. The more you know, the better your chances of success.
ERASMO MONTALVAN
Business Development Manager
1
Answer
New York, New York
Updated
ERASMO’s Answer
Starting a successful business can be exciting and challenging, but with the right steps, you can make it work. Here's a simple action plan to help you get started:
1) Identify Your Passion and Skills
- What do you love doing aka what do you want? Think about hobbies, skills, or activities you're passionate about. A successful business often starts with something you enjoy and are good at.
- What problems can you solve aka what do you need? Businesses thrive by solving problems. Identify a problem people face and think about how your skills or interests can provide a solution.
2) Research Your Idea
- Who needs your solution? Determine who your potential customers are. This is your target market.
- Check out the competition. Look at other businesses offering similar solutions. What do they do well? What could you do better or differently?
3) Create a Business Plan
- Outline your goals. What do you want to achieve with your business in the short and long term?
- Plan your finances. Consider how much money you'll need to start (e.g., for materials, marketing) and where that money will come from.
- Set up a timeline. Establish milestones to keep yourself on track.
4) Start Small and Test Your Idea
- Build a prototype or small version. If you're selling a product, create a sample. If it's a service, offer it to a few people first.
- Get feedback. Ask potential customers for their opinions. Use their feedback to improve your product or service.
5) Final Tip:
Don’t be afraid to make mistakes. Every successful entrepreneur has faced challenges and failures—what matters is that you learn from them and keep moving forward.
Good luck, and go make your business dream a reality!
Next Step - Research and Brainstorm Business Ideas: Based on the action plan, your immediate next step is to start brainstorming and researching potential business ideas. Here's how you can do it:
1. List Your Passions and Skills: - Write down 3-5 things you love doing and are good at. These could be hobbies, subjects you're passionate about, or skills you’ve developed.
2. Identify Problems to Solve: - Think about common problems or needs related to your passions. For example, if you love baking, maybe there’s a need for unique or custom-made treats in your area.
3. Research the Market: - Look up businesses that already exist in your area of interest. What do they offer? How could you improve on their offerings, or what unique angle can you bring? Once you've done this, you'll have a clearer idea of a potential business idea that aligns with your passions and the needs of others. This will set you up for the next steps, like creating a business plan and testing your idea.
1) Identify Your Passion and Skills
- What do you love doing aka what do you want? Think about hobbies, skills, or activities you're passionate about. A successful business often starts with something you enjoy and are good at.
- What problems can you solve aka what do you need? Businesses thrive by solving problems. Identify a problem people face and think about how your skills or interests can provide a solution.
2) Research Your Idea
- Who needs your solution? Determine who your potential customers are. This is your target market.
- Check out the competition. Look at other businesses offering similar solutions. What do they do well? What could you do better or differently?
3) Create a Business Plan
- Outline your goals. What do you want to achieve with your business in the short and long term?
- Plan your finances. Consider how much money you'll need to start (e.g., for materials, marketing) and where that money will come from.
- Set up a timeline. Establish milestones to keep yourself on track.
4) Start Small and Test Your Idea
- Build a prototype or small version. If you're selling a product, create a sample. If it's a service, offer it to a few people first.
- Get feedback. Ask potential customers for their opinions. Use their feedback to improve your product or service.
5) Final Tip:
Don’t be afraid to make mistakes. Every successful entrepreneur has faced challenges and failures—what matters is that you learn from them and keep moving forward.
Good luck, and go make your business dream a reality!
ERASMO recommends the following next steps:
Chinyere Okafor
Educationist and Counseling Psychologist
554
Answers
Port Harcourt, Rivers, Nigeria
Updated
Chinyere’s Answer
Hello Victoria,
Good question!
Building a Successful Business: A Step-by-Step Guide
1. Identify Your Passion and Skills:
What are you good at? What do you enjoy doing?
What problems do you see in the world that you could solve?
Is there a gap in the market you could fill?
2. Conduct Market Research:
Understand your target audience: Who are they, what are their needs, and what are they willing to pay?
Analyze your competition: Who are they, what are their strengths and weaknesses, and how can you differentiate yourself?
Assess the market potential: Is there a demand for your product or service, and is the market growing?
3. Develop a Solid Business Plan:
Outline your business idea: Clearly describe your product or service and how it solves a problem.
Create a financial plan: Estimate your startup costs, projected revenue, and profit margins.
Develop a marketing and sales strategy: How will you reach your target audience and generate sales?
Define your legal structure: Choose the best legal structure for your business (e.g., sole proprietorship, partnership, LLC, corporation).
4. Secure Funding:
Determine your funding needs: How much money do you need to get your business off the ground?
Explore funding options: Consider personal savings, loans, crowdfunding, investors, or grants.
5. Choose a Location:
Consider factors such as: rent, accessibility, parking, and proximity to your target market.
6. Build Your Team:
Hire the right people: Look for individuals with complementary skills and a shared passion for your business.
7. Launch Your Business:
Create a strong brand identity: Develop a memorable logo, tagline, and website.
Market your business: Use a variety of marketing channels to reach your target audience.
Provide excellent customer service: Focus on building positive relationships with your customers.
8. Continuously Evaluate and Adapt:
Monitor your performance: Track your sales, expenses, and customer feedback.
Be flexible: Be prepared to adjust your business plan as needed to adapt to changing market conditions.
Do not forget that building a successful business takes time, effort, and perseverance. It's important to stay focused, learn from your mistakes, and never give up on your dreams.
Best wishes!
Good question!
Building a Successful Business: A Step-by-Step Guide
1. Identify Your Passion and Skills:
What are you good at? What do you enjoy doing?
What problems do you see in the world that you could solve?
Is there a gap in the market you could fill?
2. Conduct Market Research:
Understand your target audience: Who are they, what are their needs, and what are they willing to pay?
Analyze your competition: Who are they, what are their strengths and weaknesses, and how can you differentiate yourself?
Assess the market potential: Is there a demand for your product or service, and is the market growing?
3. Develop a Solid Business Plan:
Outline your business idea: Clearly describe your product or service and how it solves a problem.
Create a financial plan: Estimate your startup costs, projected revenue, and profit margins.
Develop a marketing and sales strategy: How will you reach your target audience and generate sales?
Define your legal structure: Choose the best legal structure for your business (e.g., sole proprietorship, partnership, LLC, corporation).
4. Secure Funding:
Determine your funding needs: How much money do you need to get your business off the ground?
Explore funding options: Consider personal savings, loans, crowdfunding, investors, or grants.
5. Choose a Location:
Consider factors such as: rent, accessibility, parking, and proximity to your target market.
6. Build Your Team:
Hire the right people: Look for individuals with complementary skills and a shared passion for your business.
7. Launch Your Business:
Create a strong brand identity: Develop a memorable logo, tagline, and website.
Market your business: Use a variety of marketing channels to reach your target audience.
Provide excellent customer service: Focus on building positive relationships with your customers.
8. Continuously Evaluate and Adapt:
Monitor your performance: Track your sales, expenses, and customer feedback.
Be flexible: Be prepared to adjust your business plan as needed to adapt to changing market conditions.
Do not forget that building a successful business takes time, effort, and perseverance. It's important to stay focused, learn from your mistakes, and never give up on your dreams.
Best wishes!