5 Things you need to know before starting a business

5 Things you need to know before starting a business

Starting a business? Great decision. But there are things to know before you plunge headlong into running an enterprise. You have decided to start a business, thought of what kind of business you wish to enter into, made financial arrangements, now what? Well, there is more if you want your business not just to be a mere business but a brand!

So get a grip on these vital factors that you need to know before starting your own business establishment.

1. Assess your business viability first

One day you get a brainwave of launching a product and starting a business. This is a bold step but have you done your research first? Have you checked the viability of the product and its profitability in the current market scenario? Assessment of your business viability should be done well in advance.  

2. Draw a timeline

Draw a timeline for the break-even of your business and its profit-making. Scheduling and planning well in advance will only help you know where you stand and alert you if you are falling short of the mark.

3. Register your trademark or Brand name

You have done the spadework for starting your business – choose your product or service; identified its market and customers; arranged its network and coined its brand name. But are you sure that nobody else is using your name?  Use the Government of India – Industry of Commerce and Industry’s Intellectual Property link to do a search if your trademark is being used already. Please be very specific to check for even the spelling also as duplication of a trademark can be a legal offense.

4. Familiarize yourself with taxes and laws

Now that you are ready to launch your product, learn all you need to know about the taxes levied on its trade, the licenses you need to obtain to run your business and the laws governing it. Inter-state and central taxes may be levied during the transport of your goods like CGST, IGST or SGST and you need to have a thorough knowledge of that.

5. Outline a budget and a clear marketing strategy

Chalk out a clear budget and marketing strategy. Without planning and budgeting, businesses fail, a budget and strategy help you to stay on track.

Now that you have understood the steps of starting a business, learn how digital printing can help in creating all your brand collaterals. Even for start-ups or SMEs, digital printing is ideal as it is affordable, adaptable, customizable and highly efficient. Let us see how.

The role of Digital Printing in your new business.

Building a brand is a meticulous task made easy by the use of digital printing in the following ways

  1. Marketing- Printing Visiting Cards

Marketing is the pulsating vein of any business and it is made easy by printing visiting cards for all your important company executives. The visiting card is going to be the face of your business when your marketing executive circulates it in the market. Opt for digital printing to get the best resolution of logos and colors on your visiting cards.

  1. Corporate Presence – Letterheads the basic platform for official correspondence.

Every legitimate company should have well-designed and premium quality letterheads. The letterhead is the carrier of your official communication to the outside world. Digital printing renders the finest quality to your letterheads with the sharpness of letters and brightness of colors.

  1. Promotion – Flyers and Brochures

Promotional activity is the push that marketing gives to achieve your product’s penetration into the market. Pamphlets, leaflets, brochures, flyers, coupons – all these form the range of promotional materials used in print for marketing.

  1. Packaging Design

If you are into retail, then your product has to be the final deciding factor in both looks and quality. So the packaging for your product must be really alluring in its design, style, and printing.

Print collaterals carry your brand image boldly and visibly and justify your corporate presence. Make sure that you use digital printing for these from a skilled print provider like Printstop to avoid compromising on quality. Let digital printing create wonders for your business by making a mark on your print collaterals.

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