How do I open a successful business? It is not an easy question that requires a person to understand the market standards well and try to study the feasibility of the project in all respects, with the addition of a new challenge that appeared and cast a shadow over all aspects of life, it is the emergence of the new Coronavirus, which pushed a large number of people to work remotely, which put small companies in a great problem.
The number of small business in Egypt has reached about three million, and about 7 million people work in them.
These companies are trying to survive the current Corona crisis by preserving their capital and sources of financing, and they also work hard to preserve their clients, the companies and joint offices try to support each other to save fixed expenses and participate in saving them.
Some companies have also offered online marketing services, either free of charge or at reduced prices, and other companies such as “Makanak” contribute to solving the crisis by bearing a large proportion of the costs of office rents, companies, lighting expenses and others to support companies and small projects to overcome this crisis with the least possible losses.
To open a new project during this period, you must bear in mind all the challenges that you may face, whether related to financing or the market and its requirements, but it must be on top of the Coronavirus, and the company that helps and supports you must be chosen to start strongly despite this crisis.
A lot of people want to start a business, but how can they? The matter requires them to think about several things, the most important of which is the reason behind this desire, do they want to achieve themselves, or the goal is to achieve money, or is the matter only caused by the desire to experiment and enter a new field to discover it?
Determine your goal first, and then start searching for a suitable idea for your project that fits with all your available capabilities and experiences. Think about the market needs around you; choose a creative and impressive idea.
Did you choose the idea? Now think about its requirements and ask yourself what your nascent project needs to succeed? Is it a new and unique project, or is it a duplicate of other projects? Are you ready to compete?
Think a lot before the real start. The important thing is that your start is strong and at the same time based on scientific foundations compatible with your abilities. Open your project with factors that guarantee its success and continuity.
Collect your financial capabilities and recharge your mental and moral strength. Start and go on strong foundations to continue, compete, succeed and achieve distinct profits.
How do you determine your project idea?
Choosing a project idea is the first step to its success and ensuring its continuation. How do you define your idea? Here are the most important rules:
- Study first, it is preferable for the project idea to be commensurate with what you study and with what you have of practical experiences, to work in your field so that you have a reasonable amount of knowledge that will secure you success in the future.
- Look for your hobbies; if you refuse to work in your field of study and specialization, then you can choose a field that suits your hobby. Many have started projects for handicrafts, drawing, cooking, sculpture, imitation and acting, their love for their hobby made them move quickly on the path of excellence, enjoyment while working supports your success.
- Choose what the market is missing; if you want to work in a specific region, you must study the market well in it, and choose a field or activity that this place needs. The market’s thirst for a specific service or commodity makes your project a rare currency that everyone is accelerating for it.
- Follow the market; it helps you a lot through specialized magazines in business, finance and websites that offer new ideas. Think and choose until you develop an idea that fits your desires and abilities.
How do you determine your project costs?
After determining your idea, you must allocate an adequate budget for it to support its success, prepare a feasibility study for your nascent project, determine your capabilities precisely, and determine the sources of financing that you can provide, either through bank loans or with the help of a financing partner and do not forget to determine the project expenses well, to ensure yourself a profit margin that pushes your new project forward.
We made serious attempts to answer the question: How do I open a successful business? What interests a large segment of people, especially young people, if you are thinking of the right start, and have a great idea for a special project, you have determined everything and you lack a special place, “Makanak” with you and around you supports your beginning and makes your ideas a reality in real life.
