Thursday, 1 December 2016

Tips for making a Small Business Profitable

In this Lifestyle and Business Blog, we would like to use the name 'Small Business' and 'Startup' as synonyms. Startup is often used for IT or IT enabled businesses whereas Small Business can be anything from a Cake shop to a Laundry to s Stationary Shop or a Graphical Designer. 

We would like to cover information related to all Small Businesses here. The information which we would like to cover is about all multiple small businesses. They can write a post about their business. Check the Submit Business Info page for submitting your business information, which is an offline process. We will review and publish this information on our blog if it meets the standards and norms.

We have started covering details of small businesses with required details. You can contact us for any queries. Please do not hesitate to contact us even if you are outside India. We will try to provide all possible help we can. Read about 50 businesses you can start under INR 3 lakhs (US # 5000)!

Tips to make your small business / startup profitable:
  • Try to select a niche but a required product or a service
  • Select a business with less investment to start with
  • In the initial stages of your business, keep minimum dependency on others
  • Try to limit your expenses as much as possible
  • Keep proper accounts of all earnings and expenses
  • Use Social Media effectively for promoting your business
  • Use all methods of Organic digital marketing (free) before starting with paid Ads
  • Create a website and a blog Have good content on them.
  • Try to find out where will you get the raw material at best price & quality (for Products)
  • Do not invest a lot in buying an Office / a Business Space
  • Keep minimum required inventory
  • Keep proper business accounts
  • Consider onlines stores as an option if you are into trading business
  • Perform Internet research for competition & market
  • Do not limit the thoughts to your physical area of business
  • Use Internet effectively to provide your services wherever you can
  • International product selling is not that easy for small business, but keep exploring the tie-up possibilities
  • Search for businesses you can do from Home / Home Office / Shared work place
  • Look for Internet based businesses which has opened a new horizon for small businesses
  • Search for mentor, consultants to get you to the next level
  • Keep some diversification as you may not succeed in only one thing immediately
  • You can focus on the products / services selling their best and reduce the diversification later and become an expert

Hope you like this tips. You can add more tips in Comments below & we will add them to the main blog. Explore this Blog for small business ideas you can implement in minimum investment. Please do not hesitate to contact us for any additional queries on this blog post. Keep reading multiple posts on this blog about Small Business and as a Tech Blog, we cover Technology related posts also.

No comments:

Post a Comment