8 Checklists to Prepare before Starting a Business

mar anto on Sep 17, 2021 in Information

Becoming an entrepreneur is a dream for some people. The dream of being free from financial problems and having a large-turned business is often the main reason for people to start their own business.

Unfortunately, for new entrepreneurs, starting a business seems very scary. The fear of the risk of failure to not knowing where to start is something often faced by some people. For that, Duitku has listed 8 checklists that need to be prepared before starting a business.

1. Do a Market Research

Before starting a business, you need to think about a type of business that has a great opportunity to grow. Therefore, you need to do market research by collecting information from the side of potential buyers. Topics of questions, such as why customers buy products, price benchmarks, and quality offered can make it easier for you to find a competitive advantage for your business.

2. Save Money to Start Your Business

Before launching a product to the market, you need money to fund your business. There are three sources that are commonly used by entrepreneurs who are just beginning. First, funds from personal savings, loans from family or colleagues, and investors. Before deciding to borrow money for business funds, make sure that your business has a strong strategy so that investors are interested to invest in your business.

3. Decide a Name for Your Business

A name plays a role in introducing your business to potential buyers. Psychologically, the name has power and can be a reminder and differentiator between your business and your competitors. For that, create a business name that has a strong background story. It’s fine if your business name is short as long as a buyer can remember your business name, even when they only hear it once.

4. Find a Unique Selling Point (USP)

You need to find the unique selling point (USP) of your business because it’s what makes your business different from other competitors. To find a USP, try to summarize your business in two sentences. Next, inform investors or customers about the sentence that comes to your mind.

5. Decide What Product You Want to Sell

After deciding the name and the target market, it’s time for you to start thinking about the products to be offered. Make a framework regarding what products customers want, how to sell them, what things are needed to sell them, and map out the manufacturing process. This will make it easier for you to determine which products to sell on the market.

6. Create a Marketing Strategy

Regardless of how good the product you are selling, you still need to plan the right marketing strategy in order to catch the attention of potential buyers. This marketing strategy includes competitor analysis, long-term targets, strategies and solutions that need to be carried out, sales systems, and a website (if needed). Make a clear plan so that your business can grow quickly.

7. Get a Business License

Although there are no particular rules regarding online business, it is better if you also pay attention to the legal aspect. By getting a business license as early as possible, your business looks much more professional and trusted so customers will feel secure when making transactions in your business.

8. Recruit Employees

For an early business owner, the selection of human resources is often ignored because some people think that a new business is still growing and does not need employees. When the fact is that recruiting employees and planning a clear employee management system is highly recommended so your team formation is in line with your business goals. Therefore, think about the team needed and hire the right employees.

For those of you who are starting a business from scratch, it is very common to do everything alone by yourself or with a limited number of employees. If that is the case, you can take advantage of technology to make it easier for you to manage your business. One of many things you can do to save your time is to use Duitku Payment Gateway to automate your business checkout process.

With Duitku Payment Gateway, you don’t have to bother responding to customer chats one by one to confirm a payment transfer.

Payments from any method can be received automatically 24/7 so shoppers can complete purchases instantly with ease. This easiness in payment will definitely attract buyers to make repeat purchases of your business.

Those are the 8 checklists that need to be prepared before starting a business. Remember, before choosing a payment gateway as your business partner, choose the one who has a license from Bank Indonesia and is PCI-DSS certified like Duitku.

Let’s automate your payment process and start your success with one transaction with Duitku!

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