How to Start A Business and Manage It?

Darlena Pagan.Com is the only website that you will ever need to learn about business, success and power. This is an empowered website on business research on How To Start A Business to How To Manage A Business. How To Start A Business? First, it is important to know what to sell. Selling a product will benefit you and your customers; once you have a product to sell. It is recommended that you brain storm the product and learn the 5w's theory to business. Brain storming a product that you will sell take some time but it is all worth it. First, get a pen and paper and start to write down everything you know about the product. Ask friends and family about the project and ask them will they buy the product if you sell it, this will give you some ideas about the quality of the product. Learn how many people like the product and how much they are will to pay for the product. This is a good idea because it helps you know how much customers are willing to pay for the product. In addition, it is good to learn who else is selling the product and how long they have been selling the product and what they charge for the product. It is good to know how much the product is selling in the market so you can price your product. It is also a good idea to know the age and gender who are willing to buy the product. Knowing the age and gender help you to market the product, it is important because it helps you to understand the age and gender and how to reach your potential target. Location is a big part of selling a product because it allows you to know where it is selling and how many people are buying the product. According to Hall, A. (2012) "Knowing a customer to this depth is one of the key characteristics of highly successful business leaders." Managing your business is extremely important because it demonstrate that you have control of your company and products, it is highly recommended that you manage your products to align with the computer's culture and goal. According to company's culture, Walmart believe that Service to our customers, "Respect for the individual,Strive for excellence and Act with integrity." Walmart had bring out some strong cultural belief and it is recommended that your product align with your cultural belief so to increase customers and profits.  After you have brain storm your product, it is recommended that you create a business plan. Business Plan help company to meet their goal. According to TD Bank. (2013) " The importance of planning should never be overlooked. For a business to be successful and profitable, the owners and the managing directors must have a clear understanding of the firm's customers, strengths and competition. They must also have the foresight to plan for future expansion. Whether yours is a new business or an existing business in the process of expanding, money is often an issue. Taking time to create an extensive business plan provides you with insight into your business. This document can serve as a powerful financing proposal."

 References

Hall, A. (2012).  

     To Succeed as an Entrepreneur Know Your Customer, Retrieved from http://www.forbes.com/sites/alanhall/2012/06/14/to-succeed-

     as-an-entrepreneur-know-your-customer/

 TD Bank. (2013).  

Developing a Business Plan, Retrieved from http://www.tdbank.com/small_business/workshops/BusinessPlan/textbusiness_plan.htm

Walmart. (2014). 

     Culture, Retrieved from  http://corporate.walmart.com/our-story/working-at-walmart/culture