How to start a business?
I think you have decided to start a business on your own. First of all, applauding the courageous decision and setting up your own business should be a source of growth for yourself, beyond the financial rewards you will earn in the future. Being able to behave freely, all the steps to achieving your goal are made of your own sweat and tear crystals.
Whether it's a dream you've been warming for years or an idea you've come up with recently, it's important to plan carefully before taking a step forward. This guide provides for business step-by-step instructions on how to start a business, so please follow these steps to prepare for starting a business.
Four Frequently Asked Questions About Entrepreneurship
What should I do to start a business?
There are a number of important steps, such as preparing a business plan, financing, conducting a market survey, selecting a location, registering, opening a business, and obtaining permits and qualifications for some industries.
How do I write a business plan?
A business plan is like a blueprint for opening, running, and expanding a business. Important items include business concept, business description, market analysis, competitive analysis, service or product lineup, operational planning, and financial considerations.
Where to get funding for the business?
There are various ways to raise funds. You may want to ask for financing from the state, municipalities, financial institutions, or your relatives and acquaintances.
What kind of business should I do?
Business types include personal business, corporate business, general incorporated associations, and non-profit organizations. We recommend consulting with a tax accountant, lawyer, or other professional to determine which business type to choose.
Create a business plan
No matter how good your ideas are, if you do not solidify your foundation, you are only dreaming of its potential. The first important step in starting a business is creating a business plan.
There are two reasons for creating a business plan.
- First, a business plan is a plan that describes the launch, operation, and expansion of a business. We will look back later and use it as an indicator against actual conditions.
- Second, when financing from the outside, you need to prove that you have a thorough calculation and a business plan.
There is no template for writing a business plan that can be used in every industry. Participation in entrepreneurship seminars and online courses held by the Chamber of Commerce is one way to create this. There is a lot of information for entrepreneurs, so please look for it.
The description of the business varies slightly by industry, but there are some important items in common. It is easy to read by inserting visually appealing materials such as graphs and figures into the format. Also, the length of the business plan will vary depending on the content, but please make sure that the following content is included.
The outline of the plan is at the beginning of the business plan. This is the part where you can understand the business at a glance and write what to do to achieve the plan. This is the most important part of making the first impression of the plan. After you have completed your business plan, please go back and refine it again. This will make it clear what you want to emphasize.
This part should be aware of the presentation. For example, write clearly and concisely, as if someone asked you "What is the point of this business?" It is also good to add the feasibility and future potential of this business and the reasons to support them.
We will delve deeper into the markets we enter. We will explain the relationship between the current market situation and business using objective data such as statistics and questionnaires. Not only the status quo but also the weaknesses of the market and the benefits of the business covering those weaknesses.
Investigate the strengths and weaknesses of the competition. If there is no competition at the moment, let's talk about how to stay ahead if others enter the field.
Service and product lineup
This section details the products and services offered. If necessary, mention R & D, patents, and copyrights necessary to provide products and services.
We will explain daily business operations in an easy-to-understand manner. Specify details such as whether you need to hire employees or how much labour is required for shipping and inventory management.
Items related to funds. We'll start by explaining how much money you need to get started, how much more you need to expand your business, how much capital you have, and if necessary, how to raise funds.
Acquire skills and qualifications
It is rare to have all the skills needed to start a business and run a business. This is especially true if you are new to the business. For example, even if you have experience and qualifications as an esthetician, you may be an amateur in daily accounting.
Write all missing knowledge to a list. Next, look for training and courses that can supplement that part. The entrepreneurial guidance and online courses offered by local governments are suitable for acquiring knowledge easily. You may want to look for experienced people to give advice or ask senior entrepreneurs how to start a business.
There are some areas that are difficult to learn on your own. Legal and tax-related are examples. In that case, we recommend that you hire a professional with a number of years of experience. Ask a trusted person, such as a trusted person, to introduce you.
Think about location
Where do you start your business? Of course, it will vary greatly by industry. For example, in a carpentry business, you may not need to rent an office. However, beauty salon management requires space for cutting and shampooing.
Setting up a store to start a business is one of the most difficult and important and careful investigations and planning. First, make sure that you have a clear understanding of local regulations and costs when renting a store. Consult your local government or specialist as needed or entrust an intermediary.
In addition to laws, regulations, and costs, you also need to consider your brand image, local security, transportation, distance to business partners, and business expansion plans. Talk to your local manager or check out the free local information and demographics provided by the municipality.
When funding is needed
If you don't have the funds needed to start a business, you need to raise funds. Here, the created business plan is useful. There are many other ways to secure small business entrepreneurship, including loans from general financial institutions, relatives and acquaintances. But think carefully before you get a loan. For example, what about ownership of a company? If you don't want to give up ownership, investors should avoid it. If you are going to get a loan from a financial institution, be sure to check the details. We will calculate exactly how much money you will actually need and how long the repayment period will be.
Knowledge of taxes and regulations required for business
By the way, after the steady preparation, the happy part as a manager is waiting. It's the first sales moment. Before that, of course, you need to be ready to accept payments. As you can see, the important selection criteria are that the payment method is easy to set up at a low cost, that you can pay by credit card, and that the fee structure is simple.
More and more people prefer to pay with a card over paying with cash. If you can not use the card, you can miss sales. Square's IC card reader, which accepts major credit card payments, allows you to pay safely anywhere just by plugging it into the earphone jack of your smartphone or tablet. An IC card reader costs 4,980 yen, and a 3.25% settlement fee is charged for each settlement.
Entrepreneurship can be a daunting task, but its value is invaluable. If you have a good idea, it's important to have a solid foundation for success. Follow the steps and start your business.