소자본 창업 추천May 25, 2023 8:36
Due to the shrinking consumer market and uncertainty about the success of startups, small-capital startups receive major attention among prospective entrepreneurs.
Small-capital startups, which were mainly snack and coffee franchises, are now spreading to various industries such as chicken, food, and delivery restaurants, and large franchises are also suggesting various methods to enable startups with small capital.
Small-capital startups generally refer to startups with startup costs of less than 100 million won, including store expenses. This method of starting a business reduces the burden of start-up costs and has the advantage of minimizing fixed costs by operating in a small space with a minimum number of people. In addition, the key money is relatively small, so it is possible to generate high returns on investment, and damage can be minimized even in the event of a start-up failure.
Nevertheless, deciding and preparing to start a business is difficult and may result in failure. Therefore, in order to succeed in starting a small capital business, it is a good idea to prepare a few tips below.
Small capital startup, 5 preparation tips to avoid failure (Startup Management Newspaper)
1. Create your own startup notebook
The most important success factor in starting a business is execution. Instead of being limited by format, try writing a startup note to write down all your thoughts and information about starting a business. It may seem daunting at first, but after a week or so you will start to see direction. Continuing to write startup notes can be of great help in running an actual store.
I wrote it as ‘start-up note’ to make it easier to understand, but I would like to change it to ‘business plan’.
Aren’t we serious about our records? Even things that cannot be seen just by thinking about them can be organized and supplemented by recording them.
When writing a business plan for starting a business, let’s take advantage of the 75 essential questions!
Small capital startup, 5 preparation tips to avoid failure (Startup Management Newspaper)
2. Take initiative in starting a business.
The main reason why many would-be entrepreneurs fail is because they chase after popular startup items. If you start a business without finding a specific business idea that suits you, about 60% will close within 2 to 3 years. To reduce the possibility of failure, you must proactively select an industry by considering your strengths, weaknesses, and inclinations.
He said that you can only see what you know. If you actively attend startup fairs or business information sessions for each brand, explore various industries, select the optimal startup item through consultation, and then start a business, you can greatly reduce the risk of failure.
Small capital startup, 5 preparation tips to avoid failure (Startup Management Newspaper)
3. Study relevant legal requirements and regulations.
Prospective entrepreneurs also need to understand and be familiar with relevant legal requirements and regulations. Since these legal requirements and regulations are directly connected to the economic aspect, it is necessary to study laws related to the Labor Standards Act, Food Sanitation Act, and Tax Act, which must be kept in mind in the startup market, and identify potential risks in advance through case studies.
4. Do accounting
Of course, the main purpose of starting a business is to generate profits. To achieve this, it is basic to prepare an expected profit and loss statement before starting a business. By preparing an expected profit and loss statement in this way, you can set manageable expenses and effectively control expenses according to changes in sales.
Profit requires management of both sales and expenses simultaneously, and in situations of long-term recession or fierce competition, expense management may have a greater impact than sales. Therefore, it is very important to develop number sense before starting a business.
Developing number sense offers a variety of benefits to entrepreneurs. First, expressing the various results that occur in stores in numbers can provide an objective basis for decision-making. By understanding sales trends, cost structures, profit margins, etc. through numbers, you can establish effective strategies. Second, because you can accurately understand the business situation through numbers, you can predict and prepare for potential risks in advance. This allows entrepreneurs to plan and execute business activities more efficiently.
Small capital startup, 5 preparation tips to avoid failure (Startup Management Newspaper)
5. Create a customer happiness scenario
For a successful business, customer satisfaction and repeat visits are very important. Customers are more likely to come back if they are satisfied with a product or service after purchasing it. Therefore, entrepreneurs must always plan and implement scenarios to improve customer happiness. This scenario includes not only improving cost-effectiveness but also providing customers with a special experience when they visit the store.
Small capital startup, 5 preparation tips to avoid failure (Startup Management Newspaper)
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