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Topic 4: PREPARATION BEFORE STARTING A NEW BUSINESS There is one saying by a Chinese businessman: “If you don't give up, you still have a chance. Giving up is the greatest failure” Jack Ma

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Topic 4: PREPARATION BEFORE STARTING A NEW
BUSINESS
 There is one saying by a Chinese businessman: “If you don't give up, you still have a chance. Giving up is the greatest failure” Jack Ma There are many young
people
, who choosing to create their own
business
 paths
instead
 of joining a
company
 or businesses. They want to build their own career and make profits
instead
 of going to work as an employee with great work pressure and limited
time
. Self-employment will bring a lot of advantages but at the same
time
 many difficulties and challenges. Self-employment has many benefits because of the following reasons.
Firstly
, you won’t have to worry about deducted wages or being fired so you will have a more stable working environment.
In addition
, self-entrepreneurship helps you take control of your
time
. In the beginning, it can be very hard, but you will master the method and feel like enjoying the freedom and relaxation.
Secondly
,
business
 will help you expand your relationships, study many new things from experienced
people
, learn to cooperate with others to survive challenges in the whole career. And the most important thing you will get when doing self-employment is the financially autonomous. You won’t have to wait for the paid-day each month and will be active about your income stream.
On the other hand
,
business
also
 has many disadvantages and difficulties: -Limited capital: we need capital to open a
business
, capital to import raw materials, capital to pay expenses, capital to pay employees' salaries… - Lack of knowledge and experience:
Business
people
 cannot avoid shortcomings in their work: employee management, order management and customer management… which will affect
business
 performance. - Limited product introduction and weak auditability. You need to prepare some measures in
business
, if not, you will encounter many difficulties. So, what do you preparation before starting a new
business
? Especially when starting a new
business
 is passion, genuine desire to get rich, love to do
business
 and bring realized values to the social community. But passion is not enough, you need to do more. 1. Name your
business
 Coming up with the perfect
business
 name can be hard. It must impress with
people
. 2. Promote your
business
 The most important part of starting a
business
 is the promotion stage. Getting your
business
 in front of
people
 will help you generate sales so that your idea turns into a
business
. A fer ways you can promote your
business
 idea: -Facebook: you can run Facebook Ads (Facebook Advertisements). You can
also
 post in Facebook group -Instagram: grow your Instagram followers so you can make sales with each. Instagram post. You can
also
 add direct link in Instagram Stories to capture more sales. -Selling on online sites: Shoppee, Lazada, Taobao…. 3.
Business
plan
First
, you need a
business
plan
 to get to know your
business
 and to create the path that will describe how you will get from where you are to where you want to be. A good
business
plan
 can help you determine what you need to make your
business
 a success – from personnel to financing, location to advertising. But to truly make your
company
 succeed, you must pay attention to what you find during
plan
 preparation. Be thoughtful.
For example
 your capital is 300000$ and
then
 try to wing it on 600000$. Let try to do the best you can. 4. Goal Setting Goal are the step-by-step plans that will make your dreams come true Your main goals should be measurable in
time
, dollar, quantity or comparison. You might have goals of a certain amount of profit for a certain number of items by a certain date, your goals might include a particular ranking in the market. If you can’t measure it, it’s not a goal. 5. Strategy Your
business
plan
 is long- term planning and it will cover a lot of ground. You need thinking ability, judgment ability to evaluate factors affecting from outside and
company
's internal environment. 6. Mission Statement - Determine what the
business
 can do for its customers - Determine what your
business
 does for its employees - What does the
business
 do for the community? 7. Mobilization of capital The track record you have, the easier it will be to raise money for your
business
 Join the stock market to raise capital: Market securities are always the most effective place to mobilize capital in the method of capital mobilization.
This
 capital is long-term and strong enough to serve the
first
 long-term thoughts of the
plan
 Borrowing from relatives: Relatives
such
 as family, friends, colleagues ... are your abundant capital. Building a
business
 may be the riskiest road for most
people
. But if you can survive and keep improving your skills, your potential for wealth is unlimited. 8. Start small and build I recommend that
people
 start small and build, leveraging other
people
’s training programs and systems to gain the experience, education, team of advisors. A great way to start small and build of is to pursue opportunities in franchising or network marketing, because these provide great training and proven systems. 9. Invest in
people
 I look for spirited entrepreneurs who are prepared to succeed and are “willing to pay the price”. They’ve done their homework and have a strong track record of success. The better they are at basics Conclusion After preparing the necessary things, it is
time
 for the
business
 to start doing
business
. And in the
business
 process,
first
 of all we need to manage the
business
 effectively. We must make efforts to learn, absorb experience, always innovate and create. Learn to listen to customers and improve the shortcomings which will make
business
 easier, chart the right path for both the
company
 and the
business
, create for the
company
 and the
business
 industry has a solid foundation for the future. *Starting a
business
 always has challenges, the important thing is how you deal with it.*
Submitted by nhatrangthanyeu2013 on

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    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
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  • Paragraph 4 - Conclusion
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