How do I start my own company?
I would like to open a water purification company. I have my own capital but need to know where to start. What are some of the obstacles most of you missed when opening your own company and only learned later on?
Every company needs a good website, so I recommend you to think about it. Take a look at the service from https://weblium.com I am sure that the guys from there will make a perfect website for your business which you will find very nice and helpful to you. Hope you will find it useful, good luck ;)
Let me tell you one thing, "You Can't Learn from Others' Mistakes".
I started it in 2014 and wanted to create a firm who helps other in making buying decisions. I wanted to make sure that they make informative decision, and the little i know that people can't make informative decision. They want to go with mass and not information.
So, I learned it hard way, that you must understand your customers mentality and behaviour before you start.
You can find more information about my firm here - https://homefrik.com
Great question Carike! I am in a very similar business situation to you. Can you update us on any progress you made in the last year? I would be interested to hear.
In my experience, the best method to ensure that growth is being optimised and cash flow is being well managed is to do the following:
1. Know what you do and what you don't do
2. Running a business well is different than being good at a trade or profession
3. Challenge yourself to always keep improving
4. Consider financial implications
Find out more information at https://merchcash.com/resources/post/startup-business-loans/
I would suggest you, te make a business case, it is important to cover all the angles of the business you are trying to put up, from the human structure, going through marketing, comercialization and finance.
I would strongly recommend you to look at finance part, in order to determine how much you need, and the time when you will need the funds. Also take into consideration a couple of months of operating expenses in your cashflow projectios.
I recommend creating a detailed business plan with a competitive analysis. This will help to set the direction and groundwork. Next will be a marketing plan - focus on WHO your target customer is and WHY they should buy from you instead of a competitor? What will you do better than everyone else?
The #1 question is…why? Why are you opening it? I can connect you with an incredible international organization (that installs water purification/well systems globally) that can help you answer your logistical questions. Help me understand why you want to do this…and I may be able to help you connect to people that can assist you in getting it done.
My first business, in '87 was selling water purification units. A lot has changed since then, obviously. Back then I was cold calling neighborhoods, trying to get a demonstration in the home. Now, the Internet and follow-ups make it so much easier.
Your biggest obstacle, may be price/competition. Overcoming, bottled water business and price it costs for water unit. Mine ranged from $150-$3000.
My suggestion is to do a well written, produced demonstration of your product removing chemicals, etc. One demonstration I loved to do was show people how to take a shot of whiskey, and turn it into pure water, with my portable unit. Make it dynamic.
Once you complete that share it on social media and continue giving out the importance of have great pure water!
Hi Carike! Here's the link to a resource that just came in that might be helpful to answering your question: http://www.mosaichub.com/resources/resource/15-articles-you-should-read-before-pitching-startu
Avoid these common start up mistakes and start getting noticed earlier on in the growth stage. Hope this helps & good luck!
You are in for a wonderful adventure.
Here is some food for thought about planning your business at http://www.paladinandassociates.com/articles/the-ten-keys-to-a-successful-business-plan/.