Tired of waking up early in the morning and working your ass off for someone else’s business? If you ever feel like it’s already time to start a brand of your own but have no idea where to begin, here’s a list to get you started.
1. Make a list
List down the products that you can make and all the services that you can possibly offer. Make sure that you are passionate about these things so they won’t feel like chores when you actually pursue them.
2. Look around
Being inspired can make a big difference when you’re starting a new venture. Look around, explore, and take note of what businesses are out there. You may either jump on the trend or start a business out of something that is missing in your community.
Photo from The Green Tea Enthusiast Shop’s Facebook page.
3. Gauge the market
Once you’ve finalized the product or service that your brand will offer, it’s time to check out the competitors. Learn about the top players in the industry and how big their market shares are. By doing this, you can pinpoint the qualities that will make your business stand out and able to compete with the existing brands.
4. Make a business plan
A business plan consists of a background about your business, your products and services, your rates, your business model, timeline, finances, and all those nitty-gritty details that will guide you as you go along. Your business plan and strategy is the backbone of your brand and how you’re going to earn from it.
5. Get the necessary papers
We know, you’re almost ready to open up your biz but of course, you’ll need to secure all the necessary documents first. Time to queue in long lines while waiting for your Mayor’s permit and Barangay Clearance.
Make sure to process your business registration for government agencies, such as DTI and BIR too. Check DTI’s website for the complete process.
There you go! It’s time to finally launch your biz and make your startup brand grow! Good luck, you little entrep, you.
Do you have anything to add to the list? Tell us in the comments.
