Banner

Basic knowledge for beginners

04/05/2022

Before starting to implement your idea, make sure you are fully equipped with business knowledge as well as basic business management knowledge to be able to control and operate your business well and avoid possible risks.

Business ideas

A business idea is one of the most important things when starting a business. A good business idea will help you have a solid foundation to develop your career.

Product differentiation is one of the important things, in today's competitive market, if your product/service does not have outstanding points in terms of quality, design or sales; service, it is very difficult to succeed. In addition, the startup idea must be suitable for your financial capacity, suitable for your own ability and suitable for the market, customers you are aiming for.

Define the business model

Different business ideas will have appropriate business methods for each of them. Therefore, you need to determine the form of business based on the following criteria:

  • Customer segmentation: Who are the target customers? What class and age group?
  • Unique Value Proposition: Why would a customer buy your product?
  • Competitive landscape: What alternatives are available to customers?
  • Competitive advantage: A feature that cannot be easily copied or purchased elsewhere.
  • Sales Channel: How the company will reach customers.
  • Revenue Stream: How the company generates income.
  • Revenue model: How the company makes profit.
  • Key Partners: Essential partners and suppliers to the business.
  • Cost structure: What are the company's costs and how will that affect pricing.

Building a Marketing Strategy

What methods will you use to promote your products and bring them to your customers? Will you promote them through the Internet, television, or banner advertising? Right from the beginning, you must practice the principle of making money first to help your company stabilize, then gradually develop it. Cherish each contract and each customer, no matter how small the value you receive.

In short, for those who want to start a business, you should be confident, never give up when you fail. Remember to equip yourself with basic business knowledge before starting a business.

Hope this article will be useful to you.!

Category:

RELEVANT NEWS

arrow left arrow right

Comparing HanaGold and JWR apps: Differences from nature to safety levels.

The collapse of JWR shows that not all platforms claiming to be "gold investments" are based on the same value foundation. When comparing JWR and HanaGold within the same frame of reference, the differences become clear, stemming from the nature of the product, the risk management mechanism, and so on.

RWA in Vietnam: The Panorama 2025–2030

In recent years, Real World Assets (RWA) has been seen as a new approach to applying technology to asset management, cash flow transparency, and optimizing capital connectivity. Globally, many independent studies have noted the growth rate […]

Bonds & Fixed Income Assets: The Right Tokenization Model

In the global capital market structure, the typical recurring cash flow asset group, bonds, is often considered the stable foundation of many portfolios. In Vietnam, after a period of rapid growth and then strong adjustment, the need for “transparency – standardization – number […]

Tokenize F&B Revenue: The Optimal Model

The F&B (Food & Beverage) industry in Vietnam is growing strongly, with an estimated scale of tens of billions of USD per year with a large number of stores, brands and franchise models. Along with the opportunities are familiar "bottlenecks": capital needs for expansion, operating costs […]

Tokenizing businesses: capital structure and compliance framework

Among the forms of assets associated with the real economy, enterprises are the group with the potential to digitize economic benefits in a standardized, controlled and transparent way. Tokenization here is understood as the encoding of information and rules for distributing benefits related to activities […]