Arise RobyPresents

ARISE TRAINING & RESEARCH CENTER

11 COINS THAT MAKES

BILLIONS IN BUSINESS

1. Choose Passionately

Firstly, you need to identify your favorite hobby which you are passionate about and simultaneously, find out whether it is possible to implement the same idea to start with something new.Once you have decided to start a business from your hobby, it’s very important to enjoy the hard work you will be putting into the business.Once you start the business do not take it lightly as you will be investing money. Live it and breathe with it. This would be the first step for a successful business venture.

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2. Provide a worthy Product or Service

It’s very important to know if there is a

good market for your product. Well!

This can be done very easily. Once you

start selling your product or service,

you will get to know whether it’s worth

doing a business with it.In fact, many

people waste time in building a

platform around the idea and later

discover that it is not a viable business

option. So, to avoid these kinds of

situation, try to find out if you have

something to offer to the market which

people want to buy and meanwhile

have a huge demand.

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3. Networking and Establishing Yourself

Once you have established a business then it’s time for you to establish yourself and maintain a good network.

For instance, if you are attending a party or any casual get together, you can always talk to your friends about your new business venture and its demand in the market.

This could be the most basic step that you could follow to step into the market. Through this, you might probably get insights about the similar product or service which you are selling.

Other than that, you can use all the major social networking sites and blogs to share your ideas and knowledge. Once you get noticed for the kind of business you are doing, you will get all sorts of possibilities open up to you.

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4. Sell Your Product Free Of Cost

Hobbies that are transformed into a

business can be considered as

blessing. Since you have the luxury

of developing your business

gradually and you can sell your

product or service free of cost. It will

help you largely in recognizing

yourself with the product you are

selling.Apart from that, you can start

making and selling customized

product through which you can take

your whole business into a whole

different level by gaining lot of trust

from the customers.

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5. Don’t leave Your Day Job

Without creating a good market for your

product, do not leave your day job. It’s

not advisable to leave your job until

your idea is accepted successfully in

the market along with better return on

investments. Besides, when starting a

new business, you need to be backed

with a strong financial security.For

instance, let’s consider that you left

your job to improve your business,

after few days you will start worrying

about money. Meanwhile, you will

start losing on your creativity and

when you take any decision you will

only think about how much you will

be earning out of it rather than how

creative you could be.

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6. Research! Research! Research!Research is the most essential thing for

any business you do.The most wonderful concept of turning your hobby into a profitable venture is you will never feel you are actually working. Seek people who have also turned their hobbies into business. Also you can take adequate help and advices from such personalities to know the pros and cons of starting a business out of your favorite hobby.Joining industry and trade organizations can help you in becoming a professional in that particular field from just being a hobbyist.

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7. Build Credibility

Initial credibility built by the customers provide you a rough sketch about where your company is going to stand in the next few years.Whenever possible make sure that you try to promote your product by having maximum media exposure so that you get noticed in the vast market place..For instance, if you are starting a scrapbooking company, you can get yourself a blog and attend some conferences.

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8. Conduct a Market Test

Perform a market research and test the market before you invest all your hard earned money into a new business.Through market research you can find out your competitors, the price points that they follow and their targeted markets.After analyzing your competitors you will be able to develop a plan for the market that will help you to double your sales. In fact, there are various channels through which you could test the market, such as eBay, Amazon, Etsy, to name a few.

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9. Have Good Peers and Teammates

You need to have trustworthy friends around you who will give you good piece of advices along with solid feedback about your product or service.Your friends include financial advisers who support you for the e-commerce site; technology people, business mentors, creative geniuses and many more.Always remember that a good team will qualify as a successful company.

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10. Your Friends and Family Can Give You Feedback

Your thinking can be greatly influenced by your family and friends. Always keep your mind open for suggestions and criticisms. Do not consider anybody’s advice light because you never know a silly idea can work well for you.

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11. Always Treat Your Hobby Like A Business

Treat your hobby like a business even though you are not able to make it a big shot business. You will have to stay professional by responding to all the phone calls and emails, meeting all the deadlines and learn the art and science of customer service.Hard work and dedication always pays off to start a new business out of your passionate hobby.

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