Saturday, 31 August 2013
Sukamto Sia’s Tips on Starting Your Own Business
Sukamto Sia is known in Singapore as a successful entrepreneur. He worked hard for many years in school and as an employee of prestigious firms in Singapore. Eventually, he gained enough knowledge and experience, not to mention confidence, to start a company of his very own. He now wishes to pass along some tips he feels young entrepreneurs will find helpful.
Develop Your Idea. What exactly do you want to do? What kind of business do you want to create? Is it a new product, or does it already exist? Sukamto Sia believes that these are important building blocks in starting your own business. It isn’t necessary to start a business plan at this point, but make sure you think of what you want to accomplish before moving on.
Business Plan Creation. Now that you have an idea of what you want to do, and what your goals are, Sukarman Sukamto believes it is time to create your business plan. It needs to include an executive summary, business description, marketing strategies, and more. Make sure to research what is needed in a proper business plan
Create Your Structure. At this point, it is time to start building up your company name. Figure out who you wish to work with, in order to build your business. Can you do this on your own? Will you need a team to help create your business? Sukamto Sia advises you decide what is best for you in this stage.
Legal Matters. Now it is time to decide what kind of legal business entity your company will be. Will it be a corporation? An LLC? A sole proprietorship? This is an important step, so make sure you have the guidance needed to make the right choice.
Sukarman Sukamto hopes you find these tips helpful on your path to creating your company.