Fromthesun: How to Start Your Business?

In this 21st Century, a lot of people are interested to start a new venture of their own, & it may be due to: (a) they are tired of the present job, (b) they want to be their own boss, or (c) the current life style has made them frustrated. Starting a business is with its own frustrations, as you are starting it all from scratch. You are unaware of the facts and figures of expenses to be made as good as the revenue to be generated. Suppose you have a business plan or success road map to serve you along with a fixed budget. But many people never correlate the plan to the capital amount they will need at least for the 1st year. Further, a lot of small business houses are totally oblivious to the facts like, (a) who are the competitors in the niche, (b) the type of products or services they offer, (c) what is the current turnover of their business, etc.

Some people never pay any heed to the role of the Government in the formative stage of their business, such as land laws, license, permit, registration, safety, labour, tax structure etc. & these factors are to be ironed out before opening the business door to the world.

Example:

You can start a home based business with very tiny capital, & perhaps zero gestation period. But still, you have to plan your business and study existing the rules and regulations in order to execute your plan. Insurance sector has created a large number of small home based entrepreneurs throughout the world. To be a smart entrepreneur in the insurance sector, you must go through the details of all types/categories of insurance plans offered by the companies, though you are not going to offer all insurance plans to a client at a time. Some of the various insurance plans offered by the companies in the market are: