HOW TO RUN A BUSINESS

There can be a choice made by you whether to get a job or to start your own business. Doing a business involves more risk. Truly said, More risk more gain, No risk no gain. Job and Business both involve risk but it is higher in running a business as then you are an entrepreneur and all losses/profits will be borne by you. Running a business, you really can choose your future and don't have to do the normal expected things. Below are some ways which would help you to understand how a business can be started and operated successfully. 

STEPS: 
1.) If you have decided that you wish to start your own business then you need to be clear about certain things like What is your objective? What is the industry/type of business you want to start with? What is the product/ services? How much money do you need to start a business? So once these points are considered you can move ahead to plan a business idea. 

2.) Now it's time to find out a business idea. You may have a unique idea or you may need help to figure out what could work for you. There can be a big list of business ideas. You need to choose the same based on your objective and convenience. These Ideas may involve:

• Home Based Ideas
• Low-Cost Business Ideas
• Online Business Ideas
• Service Business Ideas etc

3.) Now that you have a business in mind and are clear on the reasons for your choice, it's time to get started. You need to now finalize the setup. A few actions would be required now. - Finalizing the product or the services to be offered. - Consider the legal form of business you will be operating under. There are basically four choices:

• Sole proprietorship
• Partnership
• Limited partnership
• Corporation.

- Deciding on who would be the customers or the target group. Vendors for the raw material if required.  - Finalizing the location where the business is to be started. - From where the start-up capital is to be arranged. - Physical setup of the organization. - How much workforce is needed. - Any other requirement to operate the desired business. - Taking all necessary government approvals before starting the business. 

4.) At this point in time, your small business or home-based business should be up and running. Now it is important that you keep yourself updated on the current market happenings like the competitors who have entered the market, the change in the choices or likings of the customers, etc. This would help to improve your offering and you would be able to hold your position in the market even when the market is very competitive. It is always a good practice to update your business and take action to improve your business operations. 

5.) With your consistent efforts and God‘s grace, you might have become a successful businessman by now but still business faces chaos and issues which need to be attended from time to time. An important key to a successful and lasting business is to find problems and eliminate them before they get so big that they start to have a negative effect on your business. These conflicts might be related to suppliers, employees, or customers. With each of them, the issue should be tackled nicely considering the long-term relationship with them. You need to be fair in your approach. A long-term relationship with your associates will make you survive in the market for a long. 

6.) 
Running a business successfully will give you financial stability, freedom to work on your own, and everything you want from your business. A practical approach and well-thought stargazes would help you grow and achieve all you dream of. 


7.) You need to be clear and determined about the objective to be achieved and try to achieve those goals by fair means. 

 8.) 
Cost-cutting should be practiced in operating a business. If you wish to be a success in business, a tight hold on your expenses is a must. In fact, a good rule of thumb is that anything that does not make money for you or protect your investment, should not be purchased at this time. 

9.) Recruiting those who are self-motivated, talented, versatile can speed up the success of your organization. With the skillful employees, productivity would increase and the system would become more efficient. 

10.) Give your best and always encourage your team. Make them feel a part of the family, not just the workers. 
11.) You should be open to other opinions. Employee participation can also be helpful. It will also bring creative ideas to your company. 

WARNINGS: 
Success comes with consistent efforts, there is no shortcut. Stay away from unfair practices/means. This can bring down the credibility of you and your business in the market. Be sure that you are following all legal procedures.