Starting a business is a big decision as it is related to your income and future, and it will be a lifelong career that you will work for.
When you decide to start a telescopic ladder project, it’s not enough to run a successful business with a passion, enough thinking and research before acting is essential.
So, research what can help us.? And after the research? What should we do?
Please read on to find out the answers below:
What You Need To Do Before You Start
Research the Market
If a product is unpopular, or if it is already obsolete, then don’t even think about it, it’s destined to be a failed project, and it‘s best to hurry up and try to change the track.
So the first step is to investigate whether your target market has demand for the telescopic ladders. Offline you can visit your local supermarket or hardware shop, and online search on Amazon, eBay, Shopify, and other e-commerce platforms. If you can find telescopic ladder figure, it proves that consumers have a demand for it.
After the first round of research, you will find that there are two scenarios, fierce competition, and not so fierce competition. Fierce is reflected in the fact that there are too many brands of telescopic ladders on the market! Of course, it also shows that your market is very receptive to telescopic ladders, no matter what, this project is also able to do up. Not intense then the opposite, this situation is very good for you to carry out business.
Once we know the market, we have to investigate what competitors we have, their styles and prices, and other useful information to ease decision support for our business route (planning) later on.
Decide on your business model
There are various channels of business models such as e-commerce, wholesale, brick-and-mortar, supermarkets, drop shipping, and so on. People have limited energy, so it is difficult to choose one way to go deeper and take care of other areas at the same time. Of course, you can try more if you want, but if you start, choose the one that suits you best.
Develop a Business Plan
With all the previous research work, you have enough business information and should have a general idea in your mind, it is best to organize these ideas into a formal business plan in time.
This business plan should contain the key elements of your business model, your capital budget, and your goals for the year; the rest is up to you.
A solid business plan will be the cornerstone of your future actions, allowing you to make every decision , without deviating, and achieving the results you have planned for.
Finding A Reliable Supplier Is The Key
Going back to our initial question, what should we do after the research? The answer is, to find a reliable supplier partner.
This is the most important step because a good supplier can help you start from zero, you don’t even need to do the above things (research work) yourself, as a global supplier they know the market better than you do; a good telescopic ladder supplier can provide good service and support, so you can follow up activities with peace of mind.
A good supplier should be able to do the following for us:
Provide high-quality products
High-quality products will lead to a steady stream of consumers and a good reputation, which is the foundation for your business to go long. We should choose an honest supplier of telescopic ladders that can provide you with consistent quality.
Customized service to your needs
Some suppliers favor customers who have already achieved success, they focus on them and do not get their resources tilted or extra services for newcomers who are starting.
Yet the complexity of international trade can be exhausting for us without an experienced helper partner and the hassle.
Not to mention if we also want to customize products and services, get competitive prices, etc.
Omit to find a supplier, there is a quick way to tell if he is friendly to newbies, see if his response time is timely, and if our questions are always responded to. In short, the contact process is something that we can all relate to.
A good after-sales service should be able to stand up and offer solutions when we encounter quality problems and consumer complaints; provide us with the latest market and product information, so that we can both gain from the communication discussions.
In short, receiving goods is not the end of cooperation with a supplier. A strong after-sales service can tell whether he is a responsible company or not.
Researching beforehand lets you know if the project is worth doing, and finding a reliable supplier determines the longevity of your business.
As a newbie, getting these two things right will be a big part of your business success.