Thursday, October 9, 2008

SME learning experience

Starting a small business is always a exciting experience . There are also lot of problems. However , I would like to refer them as learning opportunity . To start with there is lack of clarity with the business .I think , that is not the right time to incorporate the business . As there are lot of things, gets changed.

So, it is more important to wait for sometime to let the ideas to settle down. There is also requirement of intensive market research inorder to make the idea more clear and to get a clear set of target customer. Besides, it is a common tendency to spend a lot of money in the office and decoration . However, it is not a wise idea to spend a lot of money in office and decoration , unless the business requires a retail outfit to start with.

The rules of starting and small business is in fact applying the " Keep it simple " principle.

No comments: