Entrepreneurship or entrepreneurship is the first choice for many people choosing a career. Worship is the first thing that comes to our eyes when doing business. This means only Rs 5-1000 can be used to start a small business. But there are many people around us who, despite having enough capital, cannot cope.
You will find many reasons why a book business does not work. Thanks to my little knowledge of the surrounding markets, I discovered a few reasons. Here are some of them.
The regulations for starting a new business must be completed before starting a business
1. Experience: Next to worship, experience is the most important thing in business. You will find that the most successful people have been selling in a store for a long time and then giving it to a gift shop.
Because they have good customer experience, let us, e.g., say you want to start a clothing business. Now you need to know what clothing buyers want in your market and at what prices. There are lower or lower middle-class buyers in the local market, and now if you see that you have a cult following in that market and buy good quality clothes at high prices, those clothes will not work.
Bringing cheap clothes doesn’t work. It just doesn’t sell. Then you should bring some cheap tasteful clothes and know what kind of clothes are sold in the market by the merchants around. You need to know where there is a good wholesale market for this type of fabric and where you can buy it at a low price. The same applies to other products.
2. Site Selection: Site selection is an important aspect of business success. This is not allowed if you are shopping in a place where people do not go or where there are no crowds.
You should shop in places where there are many people, and there are more stores with similar products. However, when selling certain products or services, the store often operates slightly inside or in less crowded areas. In this case, goods or services that are not available in that market or the seller is well known a business can be done anywhere in the market.
3. Product Selection: Product selection is critical to the success of a business. You need to determine which products are in high demand in your market.
When determining your needs, if you find that there is no TV fridge or air conditioner store in your local market, you are bound to fail! Because people go to sub-city or district city to buy AC.
However, in many places, electronic goods are also sold in the local market because the districts and cities are far from the local market or the transportation costs are high. In that case, you will have to worship more and wait patiently for a long time. The more stores there are for a country’s product, the more that product is sold in general.
4. Pricing. Product pricing is an important issue. You need to set the price at which customers usually buy the product.
10,000 characters limit!
Experienced store owners use strategies when setting prices, such as when customers come to buy some products and buy other products related to that product. A product that buyers focus on lowers the price of that product, compensating for it with additional products that are invisible to buyers.
For example, a customer purchased a fan and also purchased wires, switches, and regulators. Now, since the buyer’s focus is on the fan, the seller has reduced the price of the fan by 100 takas from another shop and bought a cable and speed control unit.
5. Store name, signature/advertising activities: Advertising activities are one thing. Given the type of store, it is necessary to determine the name of beauty, simplicity, and traditional name.
Once I saw a shop called “Molla Shop.” At first, he was named, but because of the owner of Hujur, everyone was called the Molla store. In the end, he hung up, signing up “Molla Shop,” and his store did well.
Third, I saw the name of the restaurant somewhere else! In other words, the food in his restaurant is very high, the price is very low, and the food in the restaurant will soon end. The name of the food begins with the name of the restaurant Tanatani!
It can also succeed with your personal confidentiality, good use, pure image, integrity, and behavior. I wrote 5 reasons for approx. Five reasons because my writing was about small businesses. I hope this proposal is useful for small businesses.
