Running a business

Brick and mortar business, online or side gig.

What do you need to have to run a business?

I strongly believe that all business people have their own take on it. They might argue as well, but at the end, business is business and it is not called a business until it is running.

Have a quick look below if you are prepared:

1. Location. Somehow it works for a good traffic location, it is not necessary. If you have a good food to serve and a fantastic service people working with or for you, then you can disregard this perception.

2. Capital. Though you can’t start a business with out this, you can still try. By asking financial institutions or to business people who wants to lend you money for a return percentage of their investment. First is to have everything laid out and the projection. What would you need to achieve in 3-5 years.

3. Food. Authentic. Asian. Western. It depends on what country you are in, but, again, people tend to try new food and cravings change. It is amazing to see food business with lots of traffic. What were they serving? Burgers, pizza, salads, some sushi, and some decent buffet selection. If you are planning to open a food stall, try not to copy what is there in the neighbors, there is no market for that. If, just in case you fail, you can always try something else.

4. People. Unless you want to do everything by yourself, you need the Right People to run your business. If they don’t do how you want it to be run, fire them. A good staff take care of the business, in return, you need to do your part as the owner to retain them. Focus on your people and you dont need to worry any day of your business.

5. Clients. Without them you can’t survive. Be part of the community, help and reach out. Promote a healthy competition, your competitor is always a prospect guest.

There’s more to it, but these 5 aspects are the first to look into to start.

I’ll post more soon.

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