How to Start a Business: A Guide to Starting a Software House
Added on 2021-05-29
5 Pages1793 Words127 Views
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Kamlesh kumarName: Kamlesh kumarSection: BSCS-10C CMS:348395Submitted to : SirMuhammad YousafOOP ASSIGNMENT -2
TOPIC : How to start any businessPrior to start a business One(Entrepreneur) should decide what to produce orwhich services he/she should sell. One must do market research, which will tellhim/her if there’s an opportunity to turn his/her idea into a successful business. It isalways necessary to gather information about potential customers and businessesalready operating in your area. Use that information to find a competitive advantagefor your business. If he think his business can deliver something other companiesdon't (or deliver the same thing, only faster and cheaper),After that Entrepreneur must need to answer the question ‘Why’?: “Why tostart this particular business” In the words of Simon Sinek, 'always start withwhy,' It is good to know why you are launching your business. it is always wise todifferentiate between whether your business serves a few persons or a marketplace .When your ‘why’ is focused on meeting a need in the marketplace, the scope of yourbusiness will always be larger than a business that is designed to serve a personalneed."Once the Entrepreneur find the room for his idea in the market and he/shehas addressed the question “Why to start this particular business”, Now he isready to bring his business idea on real ground or market.Next step before starting real working Entrepreneur should make a Brainstormplan Or road map : Roadmap or Plan which one of the most important thing that allthe successful companies use to design in advance for the next 5-10 years, Anstartup should also have a business plan orbrainstorming a business namebeforenailing down the idea's value.1.What to produce :Here I describe my decision process tochoose to open an “Software House”, Asdescribed above in 1st point that beforechoosing a business idea we must, considerthe market need for that idea, gatherinformation about businesses already operatingin that area, So as ever growing need of software, cross-platform applications andwebsites, this industry has larger scope than any other industry, It was nearly USD388.98billion industry in 2020. Therefore there is always a need of a promisingSoftware solution in the market. Another important feature about this business is that
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