How to start a business

Posted by Imam Larh on Friday, 23 March 2018

how to start a business
There are several ways to start an Accounting Business or enter the business world, namely:

1. Buying an existing business
2. Purchase failed business assets
3. Establish new business


a. Very similar to what has been there

b. Unique or special products / services

4. Purchase the right to manage (franchise)
5. Start a partnership

According to Suryana (2003: 69), there are three ways that can be done to start a business or enter the business world, namely:

A. Pioneering new business (starting), which is to form and establish a new business using self-designed capital, ideas, organizations, and management. There are three new forms of business that can be pioneered:

  1. A sole proprietorship, ie a form of business owned and managed by an individual;
  2. Partnership (partnership), which is an association (association) two or more people who jointly run a joint business.
  3. Corporations (corporation), ie companies established on the basis of legal entities with share capital.
To start a business, an entrepreneur candidate must have the required business competencies including:

  1. Technical ability, ie the ability of how to produce goods and services and how to present them.
  2. The ability of marketing, namely the ability of how to find the market and customers and the right price.
  3. Financial ability, ie the ability of how to obtain sources of funds and how to use them.
  4. The ability of relationships, namely the ability of how to seek, maintain, develop relationships, and communication skills and negotiations.
B. Buying a company of others (buying) 

which is buying a company that has been established or pioneered and organized by others by name (goodwill) and existing business organizations. It is not easy to buy an entrepreneur company that already exists. 

Read Also: Accounting History

Entrepreneurs who will buy the company other than have to consider the various skills, abilities, and interests of the purchase of the company, the buyer must also consider the potential sources of the company to be purchased, including:
  1. The intermediary trader the seller of the company to be purchased.
  2. The investment bank that serves the company
  3. Company contacts such as suppliers, distributors, customers and other things that are closely related to the interests of the company to be purchased.
  4. Business and social partnership network to be purchased
  5. List of magazines and trade journals used by the company to be purchased.
C. Management cooperation (franchising), which is a partnership between entrepreneurs (franchisees) and large companies that provide licenses (franchisor/parent company) in the approval of the sale and purchase of monopoly rights to conduct business (franchise). In franchising, companies are entitled to the monopoly

organize the company as if it were part of a licensing company equipped with the product name, trademark, and standard operating procedures.

The parent company (franchisor) allows the franchise to use the name, place/area, guidance, employee training, advertising, and ongoing material supplies. This cooperation is usually with initial support, covering one or all of the following aspects:
  1. Selection of places.
  2. Building plan.
  3. Purchase of equipment.
  4. The pattern of the workflow.
  5. Selection of employees.
  6. Advertising.
  7. Chart
  8. Help at the opening ceremony.
In addition to initial support, other ongoing assistance may also include the following factors:
  1. Recording and accounting.
  2. Consultation.
  3. Inspection and standards.
  4. Promotion.
  5. Quality control.
  6. Research.
  7. Legal advice.
  8. Other materials.
In franchising cooperation, the parent company provides ongoing management assistance. The overall image (goodwill), manufacture, and marketing techniques are given to the franchise company. Not a few forms of franchising conducted between countries. For example McDonald's, Kentucky Fried Chicken (KFC), Pizza Hut etc.


A form of franchising-like co-operation is a foster father or partnership system. In this foster or partnership system, most are only provided with capital assistance, marketing, and business counseling.

Summary

1) To explore business opportunities, an entrepreneur must think positively and creatively including:

  1. Must trust and believe that the business can be implemented
  2. Must accept new ideas in the business world
  3. Should ask yourself
  4. Should listen to the suggestions of others
  5. Should encourage and interact
2) The success of an entrepreneur in managing his business can be identified based on:
  1. Attitude and willingness and concrete actions
  2. Courage to take the initiative
  3. Skill or expertise
  4. Creativity and confidence
  5. Experience and education
3) Factors that cause entrepreneurs to fail in running their new business:
  1. Not competent in managerial.
  2. Less experienced both in engineering skills.
  3. Less can control the finances.
  4. Failed in planning.
  5. Inadequate location.
  6. Lack of equipment supervision.
  7. A less serious attitude in trying.
  8. Inability to make the transition / entrepreneurial transition.
4) 15 personal characteristic variables that you need to consider in determining the line of business, namely:
  1. Income
  2. Buy and sell
  3. The morning man or the night mand
  4. Travel
  5. Employees
  6. Day off
  7. Status
  8. Working with family
  9. Special exercises
  10. Longer work time
  11. The potential in the future
  12. Physical stamina
  13. Connect with people
  14. Set up your own working hours
  15. The owner's intervention
5) Some business fields that you can choose, among others:
  1. Field of agricultural business
  2. Field of the mining business
  3. Field of the manufacturing business.
  4. Field of the construction business.
  5. Trading business field.
  6. The field of financial services business.
  7. Individual service business.
  8. Field of the general services business.
  9. Field of tourist services.
6) there are three ways that can be done to start a business or enter the business world, namely:
  1. - Pioneering new business (starting),
  2. - Buying someone else's company (buying),
  3. - Continuing management cooperation (franchising)
7) To start a business, an entrepreneur candidate must have the required business competencies, including:
  1. 1) Technical ability.
  2. 2) Marketing ability.
  3. 3) Financial ability.
  4. 4) Relationship ability.
8) Management cooperation (franchising), which is a partnership between entrepreneurs (franchisees) and large companies that provide a license (franchisor/parent company) in the approval of the sale and purchase of monopoly rights to conduct business (franchise).

9) In franchising cooperation, the parent company provides ongoing management assistance. The overall image (goodwill), manufacture and technique of marketing given to the franchise company. Not a few forms of franchising conducted between countries. For example McDonald's, Kentucky Fried Chicken (KFC), Pizza Hut etc. 

A form of cooperation similar to franchising but different is a foster father or partnership system. In this foster father or partnership system, most of them are given only capital assistance, marketing, and business guidance.

Taq: Accountancy business

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