Have you ever thought of creating a business? I’m pretty sure you have. Have you ever sold something to a person? If you have, you’ve already started one! I haven’t introduced myself yet so I’ll start. I am a year 7 child that has an interest for Business Studies. I am lucky due to the fact that in London, there aren’t many schools that teach this subject. I have learnt a lot from almost the past 6 months (from the time I am making this website)and now I would like to share what I know so far.
Coming Up With A Business Idea:
Coming up with a business is one of the key things you should have in mind. If you have absolutely no idea of what your business should be, then read on. Coming up with a business idea is a bit complicated to some people (including me) however I have some tips that I am going to share to you.
#1: Make a business about something you like(the easiest option). It can be from writing books to selling games.
#2: Now that you’ve got an idea, make your idea original. Here is a question to get you thinking: What does it have that no other product has?
#3: How are you going to sell it? Selling your product online is turning extremely popular. That’s a good way to sell your product!
The 4 Ps:
The four Ps are essential in business. The four Ps are product, place, promotion and price.
This is self-explanatory; it’s basically what you’re selling so that you can make money from you’re product. No product, no money!
A lot of people promote their product before it’s released, which is smart (in my opinion). This is because you can get people’s attention and they’ll get ready to buy your product and know when it’s released. That way,you’re attracting more attention to your product. A good advert is persuasiveand clear. So when you advertise your product make sure that your advertisement is convincing and clear!
Price is also self exploratory; it’s how you make money from your product. You’ll always have to put your product at a reasonable price. If not, not many people will but it! Here’s an example: if a can of coke was £5, would you but it? Of course not!
Place is where you buy the product.