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Starting Up

5 Holy Grails For Starting Up Business Not Projects

5 Holy Grails For Starting Up Business Not Projects
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You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

It is not an easy to Start. You have to go under various phases before you start up. So to make your life an easy one, I am sharing few things which one need to keep in mind while starting up.

1. Clear Vision: One should be specific about details when forming the vision for your startup company. The entrepreneur should have a clear vision in his/her mind in terms of business plan, model and strategies to set up the business. It’s a shot in the dark without any clear vision.

One should do extensive research and development along with a detailed follow-up. A healthy start-up is a company with clarity about what its vision is. This is not only important for the founders, but for every person working on the start up.

2. Analyzing Cross-factors:

The entrepreneur should analyze the cross-factors like time, money etc. to make an effective use of both. He/she should be able to evaluate in what areas he/she can spend, Is there a really need of spending money in that particular area or it can be avoided or further it can be controlled with the help of barter.

The same works with time. One can need to see how much time-demanding are particular tasks or activity and then he/she should work accordingly.

3. Quarterly/Annual Goals:

Goals-setting plays a key role in any business irrespective of its form. The entrepreneur must set goals on tendency and keep an eye on it whether it has been achieved within a set period of time or not. Also, he /she should be able to clearly differentiate between goals and objectives with which mostly young entrepreneurs get confused.

One can afford to miss the goals but not objectives. Furthermore break-down your goals, its way more achievable and easier to track.

4. Business Relationships and Networking:

One need to understand the importance of business relationships and networking as these serves you long term in the business. Treat these relationships like plants which constantly need water to grow else they will die. So, give a proper attention to these relationships to nurture it further. In addition to that, building the right relationships can definitely help you get off the ground.

5. Brand Visibility:

Don’t get focused on just making the money. Brand Visibility plays an equal role on every medium. It’s very important to be present on every accessible platform irrespective of the fact whether it’s online or offline. The more you are visible in the eyes of your target audience, the better your credibility will sound.

From participating in events, social meets, creating a search engine friendly website to maintaining a profile of the brand on key social media platforms and engaging with the users on those platforms, adopt and apply every suitable strategy to gain the attention of your target audience.

As brand visibility and brand building plays a very important role in early stages, try to make the most out of it wherever possible.

Edition: December 2016

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