Web3 – Entering a New Internet Ecosystem
In the digital world, innovation is constant. And now, we are facing an important transformation of the Internet – Web3. Imagine you are walking into a vast, lush and colorful forest. In this forest, each […]
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.!
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