It is the dream of any entrepreneur to start their own company on their own effort and hard work.Every year thousands of people across the world, try their fate in this tough competitive market to start their own business. Launching start-up requires lot of hard work, determination and many end up failing.
When an entrepreneur thinks of starting a new venture from scratch, it takes lot of guts, quick thinking, careful planning and well execution. Now-a-days people involved in business in Thailand needs to be careful about the presentation they doing before the consumer. Therefore before launching a new venture, an entrepreneur needs to be careful about its planning and execution. Any wrong step taken by the entrepreneur can result in loss of the company.
Here we are not only discussing about big companies, it can be big or small companies where the idea needs to be implemented to get the business on the right track and make it going in the long run. A good marketing plan what a start-up requires putting the Thai business on the right track, which will help the entrepreneur to decide how and where and when to spend the resources. A series of steps need to be followed by the entrepreneur in order to get the business off-ground. There is no assurance that you would taste the success. But there is no harm in planning and trying to launch the business by taking few correct steps.
For those entrepreneurs who survive till end after facing the hardship is quite worth rewarding by the obstacles that they have faced in path of success. Few steps need to be taken by the entrepreneur for the betterment of launching new venture in front of the consumer.
1. Ignite your passion
The most important thing in life for any entrepreneur is to have passion and zeal. A start-up does not only require great ideas but it needs real passion to make a mark and solve the business issue. An entrepreneur can never touch the success ladder, if things are being done half heartily.Therefore it is pretty much essential to have great ideas, but the best of the ideas would fail to execute if there is no passion in it. When an entrepreneur starts a new venture, he or she needs to make huge sacrifices and equal amount of hard work and dedication. So without a passion, even a great idea would fail to make a mark on business. So it is advisable for any entrepreneur to have passion for the things that they are planning to start-up or trying to launch.
It is very important for an entrepreneur to have a clear vision about their business that they are suppose to launch in future. Before an entrepreneur plans to pen down the marketing plan, they need to try to have look or focus on his or her business plan. He or she should try to consult the business plan. Self analysis is a very important and entrepreneurs need to question themselves about their decisions and actions. He or she should try to review the goals that they have set for themselves and try to look at the product or services that they are offering to the consumers. They need to analyze how their products and services are going to benefit their potential consumers.How they can distinguish from their competitors and can stand out in a market place. Lot of questions they need to ask themselves and analyze to make before writing a marketing plan.
3. Do market research
Now-a-days consumers are well informed and pretty much conscious about their purchase. It is not mandatory that if your company in Thailand is dealing with buying and selling of product or services, it does not mean necessary that consumer will buy it. Before entering the market, an entrepreneur needs to have a look at the market very carefully. One wrong step can cause blunder. One of the important steps is to do a proper market research of the potential consumer that they willing to attract. It is essential to conduct primary research to know your consumers better. Lot of questions an entrepreneur need to answer himself. Like what are the products or services you are offering to consumer? Will your product would be able to attract the target consumer? Is there is any space for your product in the market? Various tools can be used like interview, surveys, and questionnaires in order to know the taste and choices of the conumer.There are lot of aspects that an entrepreneur needs to consider before jumping to go for a new venture. The success of any new venture depends in the hands of consumer. So after getting all the information and knowing a consumer choice, an entrepreneur can think of taking next step.
4. Write business plan
Once you place an idea, there are few important questions that an entrepreneur needs to ask themselves. When and how they would utilize the resource? What are the goals that he or she is setting for himself or herself? Like this there are lots more questions that an entrepreneur need to assess and decide on the actions that they need to take in the future. A business plan would help an entrepreneur like a guide map where it would be possible to figure it out where the company is heading in near future and would get the scope to choose the options they need to choose to overcome difficulties and try to sustain in long run. It is like a guide map that would help to steer your business along with its grown curve.
5. Assess your finance.
Finance is being considered the back bone of any business. It is not possible to start a new venture without any capital. Before jumping into new venture, an entrepreneur should try to have a look at his pocket. It is very important to determine what you have and what you need? Without a sufficient finance, a business can never sustain in the long run. An entrepreneur must have self sufficient amount of money to start a new business. May be in future they need to invest more money, then they should keep an arrangement for acquiring loan from banks or should try to take the help of financer.
6. Identify your target consumer.
It is not necessary that all consumers would be interested to buy your products or services. Consumers have their individual taste and preferences and would continue to make a purchase on that basis. So it is pretty much important for any start-up to identify their target consumers and the product and services that would be appeal to them. It is essential that a company need to know the consumer choice and their liking. This would make them interested to have a look at their product. But that does not mean company limits their audience. They should spend time and money to reach to everyone. By determine the target audience; it would be helpful for company to know their resources that they need to start-up
7. Choosing location
Choosing location can also play hell and heaven difference. An entrepreneur must choose such location where there are easy available of access and consumers, suppliers and distributors would be able to reach them.
8. Web presence
In the age of social media, web presence is very much essential for a new start up. Social media is one such medium that gives the start-up a platform to reach to millions of consumers in fraction of seconds. The web site can provide all the required information about your company that consumers might be looking for. There are various platforms an entrepreneur can choose or look for like Facebook, blog site. Its all about the information that consumers look for and it is direct medium of interaction with consumers which helps the company to get their feedback and opinions.