What is the basic requirement for starting a new business other than capital investment. Are contacts really necessary? Can marketing only benefit the initial stage?
From India, Mumbai
Dinesh Divekar
Business Mentor, Consultant And Trainer
Freelancer In Hr &indirect Taxes For
Harsh Shukla
Ceo And Md Of 3 Uk Based Mnc's
Anita P Panicker
Sr Hr Executive
Mechanical Engineer
+2 Others

Dinesh Divekar

Earlier I have given exhaustive reply to the similar post. You may click the following link to refer it:

From India, Bangalore

Prepare a report on the following lines you would analyse your new business yourself
1 Introduction
2 Year wise production build up and Estimated Sales Revenue
3 Market analysis - SWOT
4 Technology and Techno economic norms
5 Location, Infrastructure & Layout
6 Raw materials – requirement, specifications, sources etc
7 The plant and facilities
8 Environmental aspects and pollution control
9 Project execution and implementation schedule
10 Plant management and man power
11 Project cost and means of finance
12 Cost of production and financial analysis-ROI

From India, Bangalore
Harsh Shukla

1). Basic requirement of starting a new business depends entirely on the nature and activities for example a manufacturing factory will be different from an office based service. So please give details of your new venture.

2). Contacts are NOT necessary. People will do business with you if you can fulfill their needs at a competitive cost that will add value to them.

3). Marketing should be constant and carried out at all times. However, the degree and amount of marketing will depend on your ability to service your clients.The purpose of marketing is to ensure that you have a constant supply of new orders and new clients that will replace those that you loose, as time goes by. Remember that your new clients were once somebody else's clients and they lost them to you, therefore you are in constant danger of loosing them to someone else!

From United Kingdom, Barrow
Anita P Panicker

For starting any Business it is very essential to know the in and out the said business ie you should have good experience in that field. Because it will help you to understand the working and no one will be able to cheat you.
Apart from that your experience will help you have good contact's and this is very essential when you start a business, because what ever marketing strategy you develop, people are not ready to invest in new vendor's until he or she has done similar kind of work in the same field.
Even if you are able to get a client you have to continue marketing in order to get new client's if you want to have continuity in your business and keep rolling your fund.

From India, Mumbai

I have recently entered into services business. You should be always prepared for anything that your business demands.
To fight a war, You must have opponent, you must have ground to challenge and fight, must have enough weapons, trained manpower, and of course infrastructure set up to sustain. Chances of winning the war goes with excellent strategies and high moral. So Be prepared for all this and you win.

From India, Vadodara
How Marketing skills can be improved to grow the buiness quickly ,Espcially to start up the new buiness what will nowdays fast moving produyct or process in mechanical/auto /electrical engineering
From India, Kolhapur

Question is very important, for the starting a new business there is also required be clear with product or services which are going to provide customers, check out qualities of others providing product and decide how much you should provide for both quality and product. Recruiting the well skilled staff, as well as experienced staff also needed for starting business. Forecasting also required for the business future, Risk management studies for the avoiding the future lost or prepare prior for the same with alternative options for recovering from situations of loss.
Well financial management ....

From India, Mumbai
It all depends on what you sell, where you sell and whom to sell. All the way, the product has to be enough potential to withstand the competition.
From India, Hyderabad

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