Setting up a new business requires hard work from the business founders and presidents.in your opinion,what things they should consider before setting up a new business

I.Introduce.
Good afternoon, every body.We are group 5. Today we are very happy to be
here to present our topic.There are 5 members in our group:Thanh
Hương,Nguyễn Hương,Hoàng Linh,Hoàng Lê and me. Today,our group will
discuss topic: "Setting up a new business requires hard work from the
business founders and presidents.in your opinion,what things they should
consider before setting up a new business".
Our presentation is divided into 7 parts:market and market
demand;financing/capital;knowledge;competition;location;law,rules
and
staff-human power.
II.Body.
1.Market and market demand.
I will start with:market and market demand.
First, find out if there is market demand for products or services you do not?
Make a competitive analysis, find a place to open shop and establish a plan to
offer differentiated products / services.
But the market research wanted to become a useful tool for business process
later, you need to grasp the concepts and business ideas. Had in mind when
the concept and the idea then, then you can determine whether new ideas
turn into reality or not? To do this, you need to put some questions as follows:
-Firstly:The market for the product / service you have saturated yet? For
example, this city really need to add a shop selling computer hardware or a
florist shop not?
-Secondly:What you will make offerings meet the needs of the market? If you
are thinking of providing daily care for dogs or deploy an online service for
the commercial business, or any special care somehow, things first, you need
to consider your services are really important and necessary for the
consumer? Customers would be like if no product / service you?
-Thirdly:Your competitor is doing? This is very important, because ignoring
your competitors will not know the potential threats to their business

activities. Knowing the information about competitors will ensure you have a
solid position in the market.


To be able to look at problems from a systematically collected information,
you have to arrange them in the following three categories:
+The strength of competitors than you;
+ Your advantages compared to competitors;
+The similarities between you and them.
-Lastly:You can reach the target audience or not? You need to know the
information about the customer, such as gender, age, occupation, income,
lifestyle, attitude and their social class.
And have identified where the target audience is, you need to know:
+ Who are they, what will attract and appeal to them;
+The number of people will fall into this category;
+Their consumer preferences How;
+ They go shopping when and where.
2. Financing/ Capital
-To start a business must have good financial.
-What is capital?
+Capital is the money or wealth needed to produce goods and services. All
businesses must have capital in order to purchase assets and maintain their
operations.
+Business capital comes in two main forms: debt and equity.
-The Importance of Capital:
+The capital has an important role in every business. It is a prerequisite for
starting business operations. In order to build new plants, buy new
equipment, develop new products, and upgrade information technology,
businesses have to have money or capital. Not only that, in the course of
business activities of enterprises, which are the conditions for enterprises to

expand production both in width and depth, machinery innovation, increase
product quality, increase employment and income for workers ... as well as
organizational management apparatus fully functional. Thereby improving


business efficiency, enhance the competitiveness of enterprises in the market.
Cost of capital is the key to all business decisions
-How to search for business capital?
+In addition to raising capital from relatives, friends, you can seek financing
from collaborators, partners and customers in many different ways. You also
have to consider alternatives to bank loans. The terms and conditions for
borrowing funds will need to be studied such as the cost of borrowing,
security required, rate of interest and the repayment terms. The owner will
need to approach a number of banks to get information about their terms of
lending and draw a comparative analysis to identify which funding is the
most beneficial for you.
3. Knowledge expertise
+You need to have an understanding of the field of activity of the company.
You need to have expert knowledge of the market, financial, legal, ...
Knowledge of marketing necessary to introduce, pr of your company to
customers. This is an opportunity to attract more customers and give them a
better understanding of your products. Also if there are communication skills
is an advantage as well, looking for more investors and customers. If you have
technical skills, you can tackle the job easier, solve the case quickly, there is no
difficulty in trading. To have the expertise, you can learn in school or in
business.
4.Competition.
When starting a new business, we have many things to do and think. One of
them, the competition is always happened. We can’t avoid it. The question
which needs to be answered is “What is unique about the product/service

which will be offerd to survive the market competition”? Informmation such
as who are the competitors, what is their market strategy and what factors
are required to complete with them are important. You need to reduce the
competition, here are some suggestion:
-The first, Companies need to focus on new products. What they need to
know to sell and to whom, how to sell that meet the needs of customers "was
selling, customers should not sell things there now." Because customers who
paid for businesses should know their needs satisfied, the new businesses


viable in the market, a way to capture the market quickly will launch many
new models with features outstanding, beautiful forms will sell more
-The second ,it is the quality of the product. product is always coupled with
quality and can not be separated. Customers buy products to satisfy the needs
of individuals by their features so the quality is measured by the degree of
satisfying the needs of the user. Companies should not sell items of poor
quality because the buyer will not disposable and buy the company back
again . Thus discrediting the enterprise, reduce purchasing power and can
hardly compete with other businesses.
- The third,it is the price of the product. In the market, price is always a
factor of concern both commercial customers because it is a measure of value.
The product now closely linked to the profitability of the business. Also with
customers is the amount they cost money in exchange for benefits from the
products they sell to their business. Businesses should have appropriate
pricing policies to meet the interests of both 2 sides. That is the promotion,
discount policy, the policy applies to students good price to attract customers.
Businesses can find intimate suppliers, input materials imported in large
quantities in facilities known to be discounted, is guaranteed to reduce the
cost of inputs leading to the product may be lower compared with the product
of another business.

-The next , the customer care service, attitude of staff will greatly affect
attitudes purchase preferences of customers. enterprises should attach
importance to this issue because "the customer is king" if satisfied they are
also beneficial for businesses. so companies need to recruit trained staff to
work hard style friendly customer enthusiasm. Eg: Staff standing in front
doors to welcome guests when they come to buy the bow, always considerate
attitude glad to see visitors and introduce products dedicated to answer the
buyer's scabrous , do not be angry yell at customers when they
unintentionally make mistakes that have to gently remind ...
-Finally , communication activities. This is an indispensable activity for a
new business is looking up to a standing position in the market. It is
important to provide information products to customers now that they know
and come to the business. So businesses should invest in media to promote the
brand to everyone. Good businesses should focus on marketing, product
marketing to bring the enterprise to the consumer. Through advertising in the


marketing business should not exaggerate the product's good points that
should convince them to consumer products business with the advertising
program, the introduction of meaningful logos or programs try the product ...
for them to see the reputation of the business through product consumption.


5.Location.
When establishing a company, we need to care about some problems such as
chosing headquaters ,especially primary headquater . Whether you are an
entrepreneur to work overtime or work official hourly , location issues also
become important to you. The success or failure of most businesses depends on
the selection and evaluation of employers in finding a suitable location. Most
businesses in our country are small and medium format, so hiring an office to

work sometimes quite costly. To resolve this situation, saving office has
gradually emerged. With low cost, you just have to pay a little for this office
including staff, fax machine, telephone, ...Because office position effects the
value of a company. A company located in a building of city centre will differ
from a company located in a suburban .So,these are some issues to note when
selecting location for the enterprise:
+ Should have an expert in real estate to help you in negotiating your lease or
purchase locations .It can be your greatest contribution to your new company.
+ Ask to have the additional terms. Once expiry you can renew the lease or
move away.
+Consider the capabilities you need to expand your business and the location.
To do this, your lease covenant should insist that if you need to expand the
location, the area of your rent will be increased, you can move to a different
location in the center or you can cancel the covenant.
+ Do not hury when makinhg a decision. There is no other place is the last
good. +Do not judge subjectively rent. Pay fair rent for an ideal location. Do
not let the lessor dictate all the lease terms.
6.Law,rules.


Besides, when establishing a company, we can’t help caring about laws and
regulations. An nascent enterprise will have many problems, so we should
prepare legislations to compare with what we are doing. Law has influential in
activities of company. In the regulation of company specify working time, rest
time, labor safety, occupational health, reward, discipline… it’s clear for
everyone.

7.Staff- human power .
Human resource is one of the most important problems that the founder
needs to concern about when starting their own business. Therefore,

preparing human resources is essential.
- First, make a list of necessary departments and estimate the suitable
numbers of employees.
-Second, give technical requirements to each position.
- Final, we employ disciplined people, train professional employees and give
them advantages working environment to develop their abilities so that the
effect of work will improve.
Employees can have a tremendous effect on sales and profitability you choose
skilled workforce gains, targeting skills to meet the needs of your operation
for now and in the future. Your skilled staff can result in better customer
service, better work safety practices and productivity improvements. You
improving loyalty

III.Conclusion
-To establish a new business you should perform basic tasks such as job
tren.Do are basic, most essential. It can help the company grow into a system
and firmer. The above are all presentations of our team.Presentation of the
group remains weak, your teacher wishes and suggestions for groups.
Thank you for listening!