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Arise RobyPresents
ARISE TRAINING & RESEARCH CENTER
11 COINS THAT MAKES
BILLIONS IN BUSINESS
1. Choose Passionately
Firstly, you need to identify your favorite hobby which you are passionate about and simultaneously, find out whether it is possible to implement the same idea to start with something new.Once you have decided to start a business from your hobby, it’s very important to enjoy the hard work you will be putting into the business.Once you start the business do not take it lightly as you will be investing money. Live it and breathe with it. This would be the first step for a successful business venture.
ARISE TRAINING & RESEARCH CENTER
2. Provide a worthy Product or Service
It’s very important to know if there is a
good market for your product. Well!
This can be done very easily. Once you
start selling your product or service,
you will get to know whether it’s worth
doing a business with it.In fact, many
people waste time in building a
platform around the idea and later
discover that it is not a viable business
option. So, to avoid these kinds of
situation, try to find out if you have
something to offer to the market which
people want to buy and meanwhile
have a huge demand.
ARISE TRAINING & RESEARCH CENTER
3. Networking and Establishing Yourself
Once you have established a business then it’s time for you to establish yourself and maintain a good network.
For instance, if you are attending a party or any casual get together, you can always talk to your friends about your new business venture and its demand in the market.
This could be the most basic step that you could follow to step into the market. Through this, you might probably get insights about the similar product or service which you are selling.
Other than that, you can use all the major social networking sites and blogs to share your ideas and knowledge. Once you get noticed for the kind of business you are doing, you will get all sorts of possibilities open up to you.
ARISE TRAINING & RESEARCH CENTER
4. Sell Your Product Free Of Cost
Hobbies that are transformed into a
business can be considered as
blessing. Since you have the luxury
of developing your business
gradually and you can sell your
product or service free of cost. It will
help you largely in recognizing
yourself with the product you are
selling.Apart from that, you can start
making and selling customized
product through which you can take
your whole business into a whole
different level by gaining lot of trust
from the customers.
ARISE TRAINING & RESEARCH CENTER
5. Don’t leave Your Day Job
Without creating a good market for your
product, do not leave your day job. It’s
not advisable to leave your job until
your idea is accepted successfully in
the market along with better return on
investments. Besides, when starting a
new business, you need to be backed
with a strong financial security.For
instance, let’s consider that you left
your job to improve your business,
after few days you will start worrying
about money. Meanwhile, you will
start losing on your creativity and
when you take any decision you will
only think about how much you will
be earning out of it rather than how
creative you could be.
ARISE TRAINING & RESEARCH CENTER
6. Research! Research! Research!Research is the most essential thing for
any business you do.The most wonderful concept of turning your hobby into a profitable venture is you will never feel you are actually working. Seek people who have also turned their hobbies into business. Also you can take adequate help and advices from such personalities to know the pros and cons of starting a business out of your favorite hobby.Joining industry and trade organizations can help you in becoming a professional in that particular field from just being a hobbyist.
ARISE TRAINING & RESEARCH CENTER
7. Build Credibility
Initial credibility built by the customers provide you a rough sketch about where your company is going to stand in the next few years.Whenever possible make sure that you try to promote your product by having maximum media exposure so that you get noticed in the vast market place..For instance, if you are starting a scrapbooking company, you can get yourself a blog and attend some conferences.
ARISE TRAINING & RESEARCH CENTER
8. Conduct a Market Test
Perform a market research and test the market before you invest all your hard earned money into a new business.Through market research you can find out your competitors, the price points that they follow and their targeted markets.After analyzing your competitors you will be able to develop a plan for the market that will help you to double your sales. In fact, there are various channels through which you could test the market, such as eBay, Amazon, Etsy, to name a few.
ARISE TRAINING & RESEARCH CENTER
9. Have Good Peers and Teammates
You need to have trustworthy friends around you who will give you good piece of advices along with solid feedback about your product or service.Your friends include financial advisers who support you for the e-commerce site; technology people, business mentors, creative geniuses and many more.Always remember that a good team will qualify as a successful company.
ARISE TRAINING & RESEARCH CENTER
10. Your Friends and Family Can Give You Feedback
Your thinking can be greatly influenced by your family and friends. Always keep your mind open for suggestions and criticisms. Do not consider anybody’s advice light because you never know a silly idea can work well for you.
ARISE TRAINING & RESEARCH CENTER
11. Always Treat Your Hobby Like A Business
Treat your hobby like a business even though you are not able to make it a big shot business. You will have to stay professional by responding to all the phone calls and emails, meeting all the deadlines and learn the art and science of customer service.Hard work and dedication always pays off to start a new business out of your passionate hobby.
ARISE TRAINING & RESEARCH CENTER