How to start a business from scratch
Posted: Mon Jan 06, 2025 6:23 am
Now, we'll give you ten golden keys so that you don't miss anything when you want to start your business. Ready, set, go.
Define your business idea.
Determine the type of business you will have (online-offline).
Create a business model.
Know your market.
Know your ideal client.
Determine your budget.
Start with an MVP.
Create a business strategy.
Define your sales plan.
Invest in ongoing training.
1. Define your business idea
Every profitable business starts with a good business idea. Creating the best idea will depend on factors such as the type of business you want to pursue, the audience you want to attract and of course the business opportunity that idea represents, that is, how viable and profitable it is.
See how to create a good business idea here.
2. Determine the type of business you will have (online-offline)
Within your business plan you will need to define your distribution, sales and attraction channels. You may decide to do everything online, making e-commerce 100%, or opt for traditional means. You can also combine both, but always defining your strategies well.
3. Create a business model
This is the core of your strategy for having a phone library successful business , because this model is where you will capture all the resources you need, the key activities, your strategic partners and how your business will work.
It is important that you do not skip this step, as it will be of great help not only when starting the business but throughout its life. Here is an article so you can create a business model using the Canvas method .
4. Know your market
Knowing the conditions of the market you want to enter with your business is very important and you need to understand both the historical movement and the competitors you will face and the best way to generate strategies.
For this reason, we recommend that you carry out a thorough market study and define your objectives before launching your sales strategy.
5. Know your ideal client
Define the profile of the people to whom you are going to sell your services or products. Forget the expression “for a general public” because you need to clearly define the segment of people who are interested in you and need what you offer.
Start by asking yourself this about your buyers:
Where do those people live?
What media do they consume?
What are your daily problems?
What does my product or service make easier for you?
Also remember that there are segments that are not your ideal client and these are people who are not willing to pay for your product, they put a lot of "buts", they do not find it useful to consume what you offer, etc.
If you encounter many of these people on your way, you are probably not choosing your market segment well and it is time to rethink it.
Knowing who you are going to sell to allows you to better plan your communication and promotion strategies.
6. Determine your budget
You also need to have a well-defined financial plan for your business that includes your budget and the resources you have to launch your strategy. Review when you are going to allocate to promotional strategies, how much your total investment is, and project your sales so that you have clear business goals.
7. Start with an MVP
An MVP is the first prototype of your product or service. Your Minimum Viable Product is just the first test of what you plan to sell and it is recommended to make one to validate your idea.
The point is simple: before you mass produce what you're going to sell, or buy too much, test it with a small group of people and launch your idea even if it's not finished . It's easier to prototype than to keep stock or overload yourself with work.
8. Create a business strategy
This is a step that you absolutely must take . A business strategy is generated from your business model and your financial plan and covers both promotional and organizational aspects with your key partners, such as suppliers and distributors.
It will be very useful for you to have a broader vision of the commercial possibilities of your business, in addition to marking a roadmap for you and your team.
9. Define your sales plan
Establish the path you will follow to achieve your sales goals. You will achieve this by creating a sales plan, which is a document that you will share with your sales team or with yourself now that you are starting out.
In this document you will establish the strategies you will use to get your customers to buy. It is different from the marketing and sales strategy because it is more detailed in terms of sales actions.
10. Invest in constant training
As we have already mentioned, knowing your market and your customers better will allow you to continue innovating and improving your business in areas that you may not have considered at the beginning. Good investment generates good profits.
Define your business idea.
Determine the type of business you will have (online-offline).
Create a business model.
Know your market.
Know your ideal client.
Determine your budget.
Start with an MVP.
Create a business strategy.
Define your sales plan.
Invest in ongoing training.
1. Define your business idea
Every profitable business starts with a good business idea. Creating the best idea will depend on factors such as the type of business you want to pursue, the audience you want to attract and of course the business opportunity that idea represents, that is, how viable and profitable it is.
See how to create a good business idea here.
2. Determine the type of business you will have (online-offline)
Within your business plan you will need to define your distribution, sales and attraction channels. You may decide to do everything online, making e-commerce 100%, or opt for traditional means. You can also combine both, but always defining your strategies well.
3. Create a business model
This is the core of your strategy for having a phone library successful business , because this model is where you will capture all the resources you need, the key activities, your strategic partners and how your business will work.
It is important that you do not skip this step, as it will be of great help not only when starting the business but throughout its life. Here is an article so you can create a business model using the Canvas method .
4. Know your market
Knowing the conditions of the market you want to enter with your business is very important and you need to understand both the historical movement and the competitors you will face and the best way to generate strategies.
For this reason, we recommend that you carry out a thorough market study and define your objectives before launching your sales strategy.
5. Know your ideal client
Define the profile of the people to whom you are going to sell your services or products. Forget the expression “for a general public” because you need to clearly define the segment of people who are interested in you and need what you offer.
Start by asking yourself this about your buyers:
Where do those people live?
What media do they consume?
What are your daily problems?
What does my product or service make easier for you?
Also remember that there are segments that are not your ideal client and these are people who are not willing to pay for your product, they put a lot of "buts", they do not find it useful to consume what you offer, etc.
If you encounter many of these people on your way, you are probably not choosing your market segment well and it is time to rethink it.
Knowing who you are going to sell to allows you to better plan your communication and promotion strategies.
6. Determine your budget
You also need to have a well-defined financial plan for your business that includes your budget and the resources you have to launch your strategy. Review when you are going to allocate to promotional strategies, how much your total investment is, and project your sales so that you have clear business goals.
7. Start with an MVP
An MVP is the first prototype of your product or service. Your Minimum Viable Product is just the first test of what you plan to sell and it is recommended to make one to validate your idea.
The point is simple: before you mass produce what you're going to sell, or buy too much, test it with a small group of people and launch your idea even if it's not finished . It's easier to prototype than to keep stock or overload yourself with work.
8. Create a business strategy
This is a step that you absolutely must take . A business strategy is generated from your business model and your financial plan and covers both promotional and organizational aspects with your key partners, such as suppliers and distributors.
It will be very useful for you to have a broader vision of the commercial possibilities of your business, in addition to marking a roadmap for you and your team.
9. Define your sales plan
Establish the path you will follow to achieve your sales goals. You will achieve this by creating a sales plan, which is a document that you will share with your sales team or with yourself now that you are starting out.
In this document you will establish the strategies you will use to get your customers to buy. It is different from the marketing and sales strategy because it is more detailed in terms of sales actions.
10. Invest in constant training
As we have already mentioned, knowing your market and your customers better will allow you to continue innovating and improving your business in areas that you may not have considered at the beginning. Good investment generates good profits.