Lean Start Up | 7 Economical Keys

 

A Lean Start Up | 7 Economical Keys

The following is a list of beneficial steps if you want to start up a business on the right track.

 Business Idea -- The first step to a lean start up business is to have an exciting business concept that can be viable initially and stable in the long run.

A note of caution, all of us, even Joe, Sally and Bill can express an idea that sounds great! It can be much more difficult to turn that great idea into a viable business although. Ask yourself questions. Ask others questions. Do your homework and your research.

 Domain Names -- The next phase is to, not only, have your business name but secure it! This would be the physical web address that a user would type to find your business. Once marketers can trace the fact that your business is/ can be viable, they will try to swoop up any associated domain name.

 Business Structure -- Now that you have your name secured, decide on 'how' you want to offer your products/ services. Is your business only online? Do you need a traditional storefront? What payment methods will you incorporate? These considerations will need to be made before you start a business, most definitely.

 Plan on Paper -- Put your business on paper by creating a Business Plan. Having your ideas in a concrete form will, not only, help you evaluate the structure you have so far, but, will ease the process of organization. Being organized is intrinsic to the start of a business.

 What is your Budget? -- Organizing your business finances will be ultra important as well as you need to plan for this. How much do you want to spend on advertising? What is the ROI of said advertising? Even when success is discovered through your business, ALWAYS keep track of your advertising dollars as your business can become complacent with wasting the budget. Keep your business efficient.

 Social Media -- In this day and age, you will undoubtedly need social media to help get your message out regarding your business. What platforms will you use? How much of your time can you spend on social media? If and when you use a social platform, have a plan in place to manage it.

 Web Hosting -- This would be the physical server space that you would rent to hold your website and your web content. Hosting prices cycle on a per month basis.