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Major rules for making small business ideas successful
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FIHL | 21 Aug, 2012
There are many people who are looking for the best entrepreneur business opportunity to generate a steady income flow to secure their present and future. Investing in small business ideas makes a lot of sense as here the initial investments are less and success rate if high.
No compromise on quality aspect:
When starting new business, maintaining top quality is always the first rule behind the success story of any business. When you are dealing with quality products and services, customers will always come to your shop or outlet. Hence, never compromise on this front. Win over the faith of your customers by providing them good quality services and product and move on with a competitive spirit.
Unique small business ideas:
An entrepreneur business opportunity can reach new heights, if the products are unique or at least presented in a unique way. Do something different to make your customers attracted towards your business. For instance, there are many food joints but there are only few that are popular. There can be many reasons behind it. Hence, try to make your business stand apart from the crowd. This is a good way to enjoy maximum customer traffic which in turn helps you earn high profit too.
Demand in the market:
For starting new business it is important for an entrepreneur not to make the mistake of trying to create a demand for the product or service they want to deal with. Bigger companies with huge marketing budget can think about creating a demand for their products but for those starting a small business it is not a very logical idea. Hence, an entrepreneur must focus on satisfying existing demands for small business ideas.
Highly functional products:
As far as small business is concerned, it is a good idea to deal with products that are highly functional and user friendly. For small business concepts, entrepreneur cannot afford to experiment with product. So, before stating new business, think about the products you want to deal with. Research the market to find out the demand for the products and find out what customers are looking for. Besides evaluating your market always make it a point to analyze your present competitors.
Your small business must be legal:
Be it a big or small business, it is important to register your business to make it legal I possible terms. Never deal with products that are not legal or the Government does not approve of it. Read up on the commercial laws of every country in the world. Just deal with a straight-forward, original, honest product and you will soon get to taste success.
It should support repeat-business:
Starting new business is a big step and thus it is obvious that you would like to invest in a business that offers faithful repeat customers. Repeat business is pure gold and it ensures profit throughout the year.
Lastly remember, business is all about proper approach, determination and dedication. Strike the perfect balance between small business ideas and the demand for products in the market to go a long way. (Source: Articlesbase)
* Author - Fanchise India (FIHL)
* FIHL is your best source for information about new franchises and small business ideas in the market. Here you can get all the tips of starting new business in different segments and anything required for a good entrepreneur business opportunity.
* The views expressed by the author in this article are his/ her own and do not necessarily reflect the views of SME Times.
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Electric vehical project for indian market
K.S Jhaveri | Wed Sep 5 06:04:55 2012
I am working at a company in USA manufacturing electric trucks and small buggies. As I wish to set up my own SME in India, i wish to return with lots of technical expertize to manufacture the vehicles , But i have no experience of Indian market for such products and i wish know how to start an industry in India without faltering on any issues.
Any venture funding can help to fund this project initially?
Growth is Life -Success for SMEs
Antony Joseph | Fri Aug 31 15:49:21 2012
I have started a new business recently. However, my aim is not to remain small forever. Maybe, 2-3 years this will remain small and thereafter grow at least on a 20% YOY basis. I have plans to grow this building materials business into a listed company in 8-10 years. While on this, i would like to emphasize that size will come not from your own hard work, but form the work put in by employees. For this one has to go for good quality people and pay them well from the start and plan to enlarge the business thru new and allied products, expanding to new geographies etc. If the wish is to remain small, the ever changing market place will catch you on the wrong foot! In short, what does not grow is surely set for decay and ultimate closure.
Appeal
Kamal Choudhary | Thu Aug 30 17:38:02 2012
These are great golden tips to succeed a business, rest of this problem is there, that if we think about a particular business then there is not any particular government agency to share with necessary information about that particular business. Some of govt departments like Udhyog Bhavan in Jaipur says that we are not having information like u wish, here the will to start a business suffers due to lack of information.
we can sell your produts
Jose Vercher | Thu Aug 30 08:32:18 2012
Do you sell in Spain
Jose vercher | Thu Aug 30 08:15:18 2012
we are in the Spanish market , we help a foreign companies sell in Spain contact directly josevercher@importexportyarn.com
Query on briquettes from saw wood dust
Geoffrey H. Ng'oma | Wed Aug 29 10:01:42 2012
Firstly I must apologise for placing this request on this forum but I do not know of any other which can answer my problem.
I am from Malawi where we have a lot of pine wood saw-dust just rotting.
I have heard about Briquettes and am interested in making them.
But first I would like to know if briquettes from pine wood saw dust burn well and can replace hardwood charcoal in my country.In Malawi, natural woodlands are now bare of trees and as one way of contributing something to the environment I would like to have expert advise from which ever source and how I can get financial assistance to help me buy a briquetting machine.
Thank you for your support.
Geoffrey Ng'oma
Malawi
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Re: Query on briquettes from saw wood dust
Sanjay jhaveri | Wed Sep 5 05:55:36 2012
we can help you to source Briqeting machine from India.
Sanjay
cotact: senver@dataone.in
Phone : 0091 79 26427083
Cell 0919426409232
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ideas of New Business
Bhargav Thakkar | Wed Aug 29 06:33:08 2012
Hello sir,
I am mechanical engineer and having total 9 years experience in Mechanical project, maintenance and fabrication, operation.
Your above detail message is very helpful but i would like to know more about new business ideas. I want to start new business so please suggest me.
issue for research - finance area
vijay | Sat Aug 25 21:54:47 2012
Practitioners may suggest any government policy on SMEs, in the area of finance. so that, i shall be able to assess the impact on SMEs or evaluate the policy in detail.thanks.
Major rules for making small ideas successful.
Shrinivas Moghe | Fri Aug 24 09:36:00 2012
I wished, this article would have come across my reading, 26 years back, when I launched my small manufacturing Unit. Luckily, I happened to follow three of the rules, which this article profess. One was producing the products which are consumed by pharmaceutical unis every day, and demand of which is ever increasing, there by ensuring regular repeat orders, secondly achieving the best product quality and thirdly making my business perfectly legal. But on so many other rules I faltered, and acted as roadblocks. Now it appears, the time to wind up has come. My products are still rated the best, and command premium price in the market, but at 54, I am seeing a situation which is asking me to get down the bus. I am sure, this article will definitely save new entrepreneurs getting down their bus, if they follow the rules of the success.
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Re: Major rules for making small ideas successful.
Radhakrishna | Sun Aug 26 07:57:43 2012
Very good reply!
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Re: Major rules for making small ideas successful.
T.N.Babu Rao | Thu Aug 30 17:13:26 2012
Please do not give up. I am sure with your perseverance you will come over it. Self belief is a must.
All the best
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Re: Major rules for making small ideas successful.
Awadhesh Jha | Sun Sep 2 09:01:46 2012
Dear Shrinivas,
There is a cycle of everything in this planet, a succeeding business is going to see a downfall in future and vice a versa.
In my 12 years of career, i have seen many such small and big business houses going bust despite having everything aligned. However, the best thing that i have seen about these business houses irrespective of their issues and problems, they fought back and regained the same position with revived energy.
look at Air India, Kingfisher, look back at Ruia's; all the business houses has seen enormous success and failure, but manage to revive this.
I don't know the issues in your business, but one thing i know that it can be managed. Trust me, being an Investment banker i have dealt with several such companies in my career.
So just cheer up, take a small break and renew your energy to fight back with full force.
I am always available for any kind of advise that you may require.
best regards,
Awadhesh
ajha@anfaalcapital.com
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Re: Major rules for making small ideas successful.
Dharmvir Khunger | Fri Sep 7 04:10:50 2012
Dear Shirinivas,
It's not too late at 54. your story is more or less mine and may apply to many more, who become desperate, when their dreams fail & desired success is not achieved. And when they find themselves sitting on a threshold, after investing the prime part of their lives to create a successful business & feel like quitting.
But that's the time to stop, sit & look back. You will find solutions out of retrospection.
No new entrepreneur can be as successful as you can, with a bundle of experiences under your belt & a seasoned approach.
So cheer up & carry on your new journey.
Best of Luck
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Perfect business
Dr. matiulla majeed | Wed Aug 22 18:48:54 2012
In fact this is the true and strong business idea which always been liked by the people of every generation.
EXCELLENT OPONION !
Ramesh | Wed Aug 22 03:53:35 2012
Dear sir
the article is thought proving and very valid to SME Sector. Excellent article.
Need more discussion in the same article in the forum. Opportunity to meet stalwarts in the SME sector and networking is very essential for growth.
Small business success
Glenys French | Tue Aug 21 22:55:25 2012
A good reminder
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Re: Small business success
Vijay | Sat Aug 25 21:46:37 2012
i am looking for a research issue to evaluate a government policy or impact assessment of policy issue on SMEs. Could you please suggest
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