Entrepreneur Start up Process Essay Example | Topics and Well Written Essays - 750 words

Entrepreneur Start up Process - Essay Exampleation and research. It identifies you to your customers and anyows you to differentiate yourself from your competitors. When offset to look for a business organisation name, business possessors strikes to firstly identify the business type if it is a product or service etc. Then they sidetrack to search for business name and narrow the search by making a list of the best names and sharing the list with others. beforehand selecting a name the owner should consider the following factors Choose a name that has meaning for your pose grocery store Use a descriptive name to advertise your product or service see not to have the name be restrictive Think about how the name looks Plan for all uses of your business name After that check the avail faculty of the name in Australian Securities & Investments Commission (ASIC) website and if it isavailably start the registration process by registering your business name with Australian Taxatio n office (ATO). Then go to the Office of Fair Trading or visit their website to fill in the application of registering a business name. The business name should be memor open, available, and allows your company to grow. Please note When setting up your business, if you choose to verify as a sole trader, partnership or a trust, and not as a company, thence you will have to register your business name in the state or territory in which youll operate. If your business name includes your or your partners, first name and surname, then you dont need to register your business name. Choosing a Business Location Figure 3 Business Location The recompense location scum bag be critical to the success of your business and poor decisions are usually hard and expensive to overcome. Therefore, after deciding what type of business youre going to run, whos your business essay to target and what is your business trying to target such as companies, universities. After evaluating the business type, audience, and market target, you can start searching for business locations. However, your most important consideration in choosing a location is your ability to satisfy your target market. Market Market information is a key for a business success. If an owner is unaware of the customer choice, taste, market trends, market approaches, and customer management skills, the business would not be able to generate sufficient or required volume of sale and would be losing its customer base in the long run. Competitors The information of competitors and their business strategies are highly critical for business success. By knowing the market policies and discount offers provided by the competitors to the customers, the owners of the business become