👝 BUSINESS IDEA

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💡 Job vs Business

What is money

Money is an essential part of our lives and it plays a major role in how we live and how we can pursue our dreams. But what exactly is money? Money is a medium of exchange that allows us to purchase goods and services. It can also be used as a store of value or as a unit of account.

In order to get money, there are several ways depending on your needs. You can work for it, invest in stocks or businesses, or even borrow from banks or other financial institutions. However, the most important thing to remember is that you should always spend your money wisely and save for future use as well.

Discipline isn’t about waking up early — it’s about not betraying your future self.

You said you wanted to change your life. Then you hit snooze 12 times.

You said you wanted to build that business. Then you scrolled for 4to 6 hours.

You said you were done with distractions. Then you ran back to comfort.

We keep lying to the version of us we claim to become. That’s why we stay stuck.

Habits that have a high rate of return in life:

- sleeping 8+ hours each day
- lifting weights 3x week
- going for a walk each day
- saving at least 10 percent of your income
- reading every day
- drinking more water and less of everything else
- leaving your phone in another room while you work

💡 Five common mistakes when scaling a business

💠 Here are a few key mistakes that entrepreneurs themselves most often talk about:

1️⃣Start expanding a business that is not ready to scale. It is better not to open new outlets if the income is unstable and the industry is unpromising.

2️⃣Try to make new points unique. This is more difficult and expensive than transferring already established processes to locations.

3️⃣Work with unverified people. If you expand your business, there will be more and more responsible tasks and you will need reliable people.

4️⃣Run a business alone. The workload will increase if things are not delegated. Learn to exhale - even if you really want to take on all the tasks yourself.

5️⃣Automate processes that you don’t understand. There can be many pitfalls that will only hinder automation.‌‌

...

💡TIPS FOR STARTING A BUSINESS :

✅ Create a customer acquisition strategy.

✅ Narrow down your target customer.

✅ Develop a brand identity.

✅ Build your online presence.

✅ Generate and nurture leads.

✅ Set up your sales infrastructure.

✅ Identify your sales goals.

✅ Hire a sales rep.

✅ Get more out of your sales activity.

✅ Keep your customers happy.

✅ React quickly to customer issues.

✅ Keep track of touchpoints with customers.

✅ Create feedback loops.

✅ Create a FAQ page on your website.

👝 Business plan for a stationery store

1. PROJECT SUMMARY
⚒ The goal of the project is to open a stationery store for the retail sale of office supplies and related products in Rostov-on-Don. The store's target audience is schoolchildren, students and corporate clients. The main advantage of the business is the high demand for products, which guarantees a stable income. The difficulty of running an office business is the need for constant participation of the owner.

2. INDUSTRY DESCRIPTION
⚒ The Russian stationery market is under active development. Steady growth in sales volumes led to the fact that in 2016 the market capacity amounted to 90,448.1 million rubles. Despite the crisis in the economy, the stationery market continues to show positive dynamics. This is explained by the fact that office supplies are consumer goods. Even in the face of falling incomes and a deteriorating economic situation, retail stores maintain their sales volumes

3. DESCRIPTION OF GOODS AND SERVICES
⚒ This project involves opening a stationery store for the purpose of retailing office supplies. The product range includes various product groups aimed at a wide target audience. The majority of the assortment, about 70%, consists of the most popular and cheap office supplies (pens, pencils, notebooks, printer paper), and the remaining 30% is made up of goods for children's creativity, student supplies, etc.

4. ORGANIZATIONAL PLAN
⚒ The preparatory stage lasts about two months, during which registration procedures, establishing partnerships with suppliers, searching for suitable premises, recruiting personnel, purchasing equipment and goods are provided.

5. FINANCIAL PLAN
⚒ To launch a project, it is necessary to calculate the amount of investment. To do this, you need to determine the costs of purchasing equipment, the initial purchase of goods and the formation of working capital, which will cover losses in the initial periods. The initial investment for opening a stationery store is 577,000 rubles.‌‌

⚒ 12 ways to come up with an idea for your business ‼️

1.Write down the skills you have.
2. Dream about where you would like to see yourself in 10 years.
3. Remember what you wanted to become as a child.
4. Look around: what your loved ones, acquaintances and friends are doing.
5. Try yourself in an activity that you would never dare to do.
6. Write how much money you want to receive per month. Break the amount down by day and see in which activities you can earn that amount per day.
7. What would you be doing now if you had 1 million dollars in your account?
8. What kind of activity do people who live the way you want to live do?
9. Often a hobby becomes a profitable business.
10. What craft would you teach your child?
11. What business would you happily wake up for every day?
12. Action is the key.‌‌

Enjoy the space between where you are and where you are going.

Listen to the silence, it's telling the truth.