8 Steps to Starting a Business

1. Idea and market research: Identify a service or product that you see as has a problem in the current market. Understand the demand side (customer) and supply (competition) to identify opportunities which don’t always have to be a blue ocean.

2. Business Plan: Create a simple plan using a framework such as business canvas.

3. Legal Structure: Choose the legal structure for your business (sole proprietorship, partnership, Pte Ltd) and register your business with ACRA.

4. Financing: Determine how you will fund your business. This is our expertise. More reason to schedule a chat with us!

5. ⁠Product Development: Regardless of what you are selling, if it solves a problem and meets customers needs/standards/makes their life easier, they will pay for it.

6. Marketing and Sales: Develop a marketing strategy to attract customers and promote your business, including online marketing, social media, advertising, and sales tactics.

7. Launch and operate: Launch a MVP (Minimum Viable Product) through an appropriate sales platform and manage day to days operations, sales, customer service and finances.

8. ⁠Adapt, change and Grow: Continuously monitor and adapt your business to changes in the market and customer feedback.

Starting a business takes dedication, hard work, and perseverance. With Ikigai, fueled by experienced founders and entrepreneurs, let's turn your idea into success. Schedule a chat with us today!

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