Basic of Business
Today we are going to discuss the basic building block (pillars) of Business. In our daily life we come across with many business person like fruitman, coffee counter, grocery shop etc. Some of them have family business and other have started new without any previous experience.
Now, the basic concept of this website is to aware every either old businessman or new one to provide the step by step solution for a successful business. Anyway now come on the today's topic "What is the basic requirement of any business ";
There are many factor that affect the business and differ from nature of businesses. But Some are common in every business.
This is the first step of any business in which nothing on ground and man think to do a business. I think on different ideas, advice to someone, budget planing, market analysis. In all above topic we study deep in future.
If you started any business then it clear that transaction preform in terms of cash or kinds. Then we have a good accountant (Any one have knowledge of accounting certificate doesn't matters) that keep record of transactions.
This is very important part of business and risk starts from here. For any business person, it is necessary to planning of budget and finance before business start. This means how may amount your are going to invest in row material, how many for as operating cost, how many for risk recovery, how many for future growth and etc.
It is also important task to hire a proper employee and manage them for good return. A relation between manger to employee, employee to customer, owner to manager is also affect the business.
A good marketing is mandatory either your business based on goods or services. Now there are some new media for marketing like website , social site, Local search engine ,classified sites that make your customer interaction strong.
This is mainly affect goods based business. After marketing it a great task for any business man to check the availability, sales ratio of different areas and fill the gap.
This is the last topic of today i which we study the ongoing business time to time analyse them and find out the strong and weak part of business.
That's all , Next post we will study more deeply the topics one by one. Kindly Subscribe our newsletter and like us on facebook and twitter to get recent updates.