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WHEN you are thinking of starting your own small business it is hard not to get carried
away by all the excitement.
But for every entrepreneur that makes it look easy, there is another who fails, in fact
almost half of all new businesses in Australia close within three years, according to the
Australian Bureau of Statistics.
So what are the things that you should consider before taking the plunge to give you the
best chance of success?
After then important things which the founder should do before setting up a new business
:
1. Why are you thinking of starting a business?
You need to be clear about why you want to start out on your own. Do you have
the right skills, and avilable business idea that people will buy into? Are you
simply frustrated with your current job and need a career move, or do you have a
strong desire to do something new – on your own?
You need to be sure that you’re doing it for the right reasons, as running your own
business can be tough at times (but immensely rewarding if you get things right).
The people said: When you disappointed, let think the starting reasons
So you had to judge your idea If it is great or not to feasibility follow
2. Is there a market for your idea?
If you’re going to offer a new product or service, you will either have to be sure that you
can create a new market, or take a slice of an existing market. How are your potential
competitors faring, and what can you offer customers that they don’t? If you’re entering a
busy market, can you do things better than your competitors? If you can’t compete on
price, can you compete on quality or something else?
Identifying your customers
Once you’ve decided that you have a viable product or service, how to do present
it in front of your target audience? What is your route to market? Deciding upon
the right sales channel will depend to a great extent on what you are offering. If
you’re setting up a web design firm, your sales channel will be very different than

if you’re setting up a local childcare business, for example. In all cases, you will
need to determine where your customers are, and how they’re likely to interact
with your business. Examples include: direct mail, PPC (Pay-Per-Click), attending
trade shows, sponsoring events, local / national press, and any number of less
mainstream (and even ‘quirky’) ways of reaching out to your audience.
3. Focus on their product especial the different
What makes you different?
How are you going to differentiate your business? What are your unique selling points
(USPs)? You may not be able to compete with your competitors on price, perhaps, or on
location, but you should be able to identify qualities your business offers which others


can’t, or don’t do effectively.
Example: Sometimes you can take time to visit any competitors, or similar styles of
business. See what they do well, see what they could do better. This gives you the
opportunity to figure out how your business offering is going to be different and ideally
better than your competitors. To start a business without checking out the competition is
madness.
You find out the competiton that is your difference
Example: After researching market and competitors you can give USP. What makes you
unique may be as subtle as unusual branding, or the way you deal with your customers.
When your company service customers well. They will come back with you. Almost
business aware rarely so you should focus on the other competition don’t note.
4. human resources
An enterprise, when conducting production and business, must have human resources and
material resources. Human resources is very important. Business can't operate without
human control. Human resources is the element that makes up the organization, operate
and determine the success of the business, helping businesses survive and develop in the
market. With intelligence, people know how to manage, operate, facilitate the business to
make the profit. Human resources are dividing into many levels, departments to manage

and work effectively.
Human resources decide on the use of other resources: capital, technology, natural
resources. After all, Human resources are the main actors in creating capital and
proposing new ideas, take the role of selecting and applying advanced technologies. In
many cases, capital and technology can be mobilized and implemented, but to build a
team of enthusiastic, dedicated, capable and effective employees is much more difficult.
Therefore, in order to survive in the long run, enterprises should focus on developing
human resources right from the beginning
Human resources are precious assets. Businesses will fail if not organized, using human
resources properly, science. Therefore, there should be incentive policies, talent detection,
combined with other resources to achieve the goal.
5, Finding a mentor
A mentor is someone who agrees to share their skills, knowledge, expertise, and
professional contacts with you. Mentors can help you set career goals, resolve difficult
problems, and make sound career decisions. People with mentors earn higher salaries, are
promoted more frequently, and report higher job satisfaction than those without mentors.
Sounds pretty good, right? You may already have one, since many mentoring
relationships arise organically at work or in school. But if you’ve found yourself without
a mentor, and you want one, here’s how to go about finding one:
1.What do you need from a mentor?
Having a mentor can:
- Provide you with many advantages. Mentoring is a brain to pick, an ear to listen ,and a
push in the right direction
- Help to shorten your learning curve, open yourmind to new ideas and possibilities
,identify opportunities and advise on how to promote yourself


- if you select mentor who works at the same company as you do, they can provide in
valuable insider information how to navigate the company polities and achieve your goals
=> Mentoring is a great idea

2. Where should you look for a mentor?
Once you narrow down what you need from a mentor, searching for one becomes a bit
easier. Here are a few places to look
- Within your network: Former supervisors, professors, volunteer managers, or contacts
you know through your friends and family are great places to star
- Strangers: Perhaps no one in your immediate network quite fits what you’re looking
for. There is no harm in considering a stranger to be your mentor and there are a few
placestolook:
*Look through the members of associations related to your field or the field you’re
interested.
*Check the alumni directory of your alma mater for potential connections.
- Programs: There are a growing number of programs that facilitate mentoring
relationship
3.What does your relationship look like?
In your initial contact, send an email asking to meet up for coffee, in their office, or a
phone call. Conduct this initial meeting like an informational interview: ask some
specific questions about their career path and experiences. Also, get a sense of the
chemistry. This is an exploratory conversation to get a sense of whether or not you’ll be a
great pair.
Once you’ve established contact with the person, continue to cultivate the relationship,
you can provide valuable information to your potential mentor, do it! At this point, you’re
also testing the waters yourself—is this person who you want to be your mentor? Are you
clicking?
Are
you
finding
their
advice
useful?
If the answer is yes, you may want to formalize the relationship.