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How to start your own Business

Success starts with an idea, then a plan to realise it and then the proper mindset for the business adventure.

So you have an idea that you always wanted to start your own business and be your own boss. This article will give you some tips on what to do and where to go.

To start your own business there must be a PROBLEM or NEED that you can solve , there must be a SOLUTION to the PROBLEM or NEED and you have to have the SKILL to turn the solution into MONEY.

Questions you have to ask yourself.

a) Is it possible?

b) Is there a big enough problem or need so that I can supply the solution?

c) Can I make it happen?

d) Do I have the skill to make it happen ? otherwise I must go and learn it.

e) Do I have control over it to make it happen?

f) Will it be fun?

g) Am I willing to put in the time , the effort, mindset and money to make it happen?

h) What is the smallest risk I can take with the biggest return?

i) Can I let the business work for me? Work on the business and not in the business.

j) Is the business scale able?

k) Can I automate the business?


Remember what they tell you about big risk big return is the biggest myth in business.


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6 Steps to Wealth

 

There are a couple of questions an entrepreneur needs to ask himself or herself before starting any business adventure. They call it the what, who, where, how ,why and when questions.


Contact us 076 555 6632

wholesalersincapetown@telkomsa.net

wholesalersincapetown@gmail.com


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Let’s define what is an entrepreneur

Entrepreneur is defined in the Oxford English dictionary as “one who organizes, manages and assumes the risk of a business enterprise”

   

Types of Businesses

There are different types of businesses you can start. The cheapest form of business with the least amount of risk is network marketing.


Network marketing is the marketing of products or services to firstly your friends and family and colleagues and sell to them without having to carry stock . Network marketing or Multi Level Marketing (MLM) is a marketing strategy in which the sales force are compensated not only for the sale they themselves generate,but they also receive a percentage from the sales that other people that they recruit. This recruited sales force is also known as a participants downline and can provide multiple levels of compensation. Network marketing are also known as referral marketing.

When last did you refer somebody to a movie or product without receiving any compensation for it.
 
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Networking marketing is currently the fastest growing business in the world.

Network marketing is the cheapest business to start with very little capital, and it depends on the individual to make it happen. You will come on a type of a ladder and whoever is below you that you introduced you will also get a percentage of the sale that they make.

It is like laying a pipeline. Work once then the water will start to flow for always and you just have to do maintenance on it. As they say build a pipeline and be not a water bucket carrier.

Examples of network marketing are Mannatech, Amway , Holiday Club, Tupperware, Avon, Szen, Justine etc.

You are in business for yourself , but not by yourself.
 
Benefits of Network Marketing is that you don't have to employ anyone , so you don't have to pay any salaries. You can work when you want to flexi hours. No boss to report to.

You have to start somewhere.
 
 
Virtual Real Estate

What is Virtual Real Estate ? It is the acquiring of websites names and selling them at a profit. A good book to read is Get Rich Click!: The Ultimate Guide to Making Money on the Internet by Marc Ostrofsky that can be bought on Amazon.
 A website cost would be R100 for the year for the reservation of the name and hosting that can start from as little as R8-95 per month. We use Gridhost as our hosting company. This is one of the cheapest businesses to get started with. You write an article about anything that you like or have a passion for, become the expert in that field .
 Put some google ads on it and you can receive compensation everytime somebody click on the Google ads that is on your website. As long as the clicks amount to more than what you pay for hosting you can start to make a profit from day 1.

 
 
 
What was the last great business book that you read? When last did you spend on yourself to increase your business knowledge ?

Start Selling online with NO Website yes you read it right. 

Sell on Bid or Buy with just a picture or pictures of the item you want to sell . When you get paid go to the wholesaler and buy the item and send it away.

Bid Or Buy
 
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Another good book to read is Rich Dad Poor Dad written by Robert Kiyosaki also available on Amazon. Robert Kiyosaki writes about Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom quadrants that you can find yourself in 1) Employee 2) Self Employed 3) Investor 4) Business Owner. In which quadrant do you find yourself and how can you move to the next quadrant.


Read this books as part of your Skills development.Why must you take all the risk if your business fails?


by Napoleon Hill

The Dan Sullivan Question
by Dan Sullivan
 
The Checklist Manifesto
 
 
The 12 week year
 
 
Work The System
 
 
Another good book to read is Formula For Riches by Hannes Dreyer Click Here! 

Every successful business or entrepreneur has a Formula or a System. What is yours? What is your business model? Hannes Dreyer teaches you that the lower the risk the greater the growth .
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Always wanted to start your own internet business then go to
 

Franchise

You can buy a franchise if you have deep enough pockets or enough assets that the banks can claim if it doesn't work. Franchise is the buying of a proven product or service with a track record. Franchise start from between R 50 000 to more than a million. Buying a Franchise is like buying a proven system that has worked in the past and will work in the future if you use the exact system.

Mindset

Let see if you have the proper mindset to run and start your own business.

Being an entrepreneur comes with a lot of pressure, but as the saying goes “No pressure, No Diamonds

Do you have the mindset to be a leader?

Do you understand the seriousness of the times?

Do you have a backup plan A or B or C?

Do you lead by example?

Will you accept making informed decisions?


Product

What is the product or service that you are planning to sell?

What market research have you done to see if there is a market for your product?

Go to Google and search for keyword tool and search keywords or name of your product to see if there is a viable market for your product. You can search in the country you are, or globally. This is one of the most important tools that you can use to do some market research. You will be able to ascertain if there is a big enough market for your product or service. Remember the bigger the problem that your potential customers or buyers have , and you have the solution to their problems , the more money you can make. Look for big problems to solve. The bigger the better. People go to Google because they have a problem that needs to be solved.


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C) Name of your company

The name of your company plays a major role. Make sure that the commodity that you intend selling are in the name of your company , because when people search for your product on Google it will rank higher in the search results.

They say that 90% of all start-ups fail in their first year and of the 10% that do make it, 90% fail in the next 5 years.

Now when do entrepreneurs make money? Most only make money when they sell their business.

Check if your intended company name is still available at CIPC (Companies and Intellectual Property Commission), go to customer transactions on the left and click on additional services, and search if the name of the company you intend registering are still available or if you have an existing CC or PTY if it is not deregistered or in the process of being deregistered.

If you intend putting up a website for the business then you can go to www.coza.net.za to check if the name are still available. Go to registration information and click on WHOIS (registration details).
 
If you want to register your business online in South Africa you can also do it with Swiftreg . Swiftreg will register your PTY company. They are situated in Cape Town near N1 City.
 
Company Registration
 
 

Planning

Start with a business plan for yourself and do a SWOT analysis (Strengths, Weakness, Opportunities and Threats).

Ask the who ,what, where, how and when questions. This is just a small sample of what you can expect on this site. If you need more information we will be happy to answer your questions if we know the answers. Do rate this article on facebook, like it and suggest the site to your friends www.wholesalersincapetown.co.za 

Email Campaign

Always wanted to start a email campaign or sms campaign to your clients then go to Touch Base Pro. They have the solution for your problem. Click on the advert below to go to their website.
 
 
Are you looking for your own website then go to www.webdesignerhosting.co.za . Remember a website is an extension of your business or like another branch without premises and more staff if you use it correctly.

 
 

 

Always wanted to become a professional Graphic Designer , but didnt know where. In this E-course it will not only learn you how to become a professional Graphic Designer, but will take you on a journey to become a true professional Graphic Designer. Click Here
 
 



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 Google keywords To see if your product or service are searched on the net
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Contact us for a quote
wholesalersincapetown@gmail.com
wholesalersincapetown@telkomsa.net


Fax 086 548 7071
Tel 076 555 6632
 
 
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