05
Well said by Harold Koontz "Management is the art of getting things done through and with people in formally organised groups."
1. Planning: As it is said if you failed to plan you have planned to fail so as an entrepreneur you need to plan the every aspect of the business.
2. Organizing: you need to organize all the resources properly so that it could be more efficient for your firm.
3. Staffing: Hiring and recruitment process is very crucial with man power and human resource your company can’t move effectively.
4. Directing: The director is the actual hero of a film and it is same in this case the directions are very important for quality work so that it will lead towards the growth of the organization
5. Controlling: Last but not the least controlling the whole system checking the faults and correct them for the betterment of the enterprise.
The action or activity of gathering information about consumers' needs and preferences. Here are some low-cost tips for market research for new start-ups.
1. Primary data collection: Collect the first hand information through online surveys and forms to know what people want. Primary data is reliable and technology makes it more feasible and pocket friendly.
2. Secondary data collection: Read a lot of articles, research papers to know the other prospective sometimes it helps a lot and gives your idea a new shape.
3. Competitor’s evaluation: Check your competitor’s potential and how they have catered the market.
4. Ask for lead user: In the laymen’s term provide sample of your product so that the user tells you the pros and cons before launching the product in market.
Steps for Marketing your start-up
The action or business of promoting and selling products or services including market research and advertising is called marketing .there are basic steps which a newly established business should follow 1. Strategic positioning: We need to plan that where we are going to place the product to attract the target group. We need to design how we are supposed to cater whole market so that they could know the companies prospective in laymen terms the mission and vision of the company. 2. Branding: Branding is a very important aspect the look and packaging of product which lures the customers to buy the product so it is very crucial. 3. Advertising and Guerrilla marketing : We need to create awareness about our product so that people could know about it ,Guerrilla marketing helps to insert ads in our daily lives which will target the psychology of the customers and he will buy your the product or services. 4. Public relations: We need to create a goodwill in front of our target audience so that it won’t affect the business and lead to the attachment and connection between company and customers, this will lead towards brand loyalty and equity. 5. Web presence: Everything is getting digital day by day so why not marketing and to maintain web presence we need to create blogs, v-logs and online competitions so that our audience should feel updated.
Steps to Manage your start-up
Tips for market research for a new enterprise