Basic Overview of Business
When any organization engaged with customer to exchange their goods or services with money and engaged in industrial or corporate activities. It relates the same meaning which organized efforts and action of individuals to generate and sell goods and services for profit.
Basically, In a very simple word we can say that an organization where goods and service gets exchanged for fulfill their needs and for the money is called business. As we all know that some investment is required for any business to start.
When we talk about business, Our Mind relate automatically to money. Working on your idea and concept or you can say working for your own project to make yourself financially free is called business.
Nowadays is Business Era, People get pissed off working for others and due to the influence of new technology innovation people start working on their own ideas rather than working for others which they want to do and get financially free.
Type of Business
Businesses are of various types such as privately owned, profit based company, non-profit Company. Business can be categorized in so many ways in term of investment and Business method
Advantage in Business
- Financial Rewards
To establish a profitable empire is always generating financial rewards for your business from your customers. Successful business owners have the opportunity to make more money for the risks they take. An employee will think that business owners will earn only money but when it comes to real game a person who owns.
I will agree on this that when you are owning a business, then you have a more option and chance to generate more money. When you are ready to take risk even you reward will be more in your life. If you feel that you are more worthy than what are paid for then you are about to become an entrepreneurs and ready to drive an entrepreneurship life cycle.
A company, he will have more commitment more than an employee in terms of Tax payer. He will be always in risk zone even if he miss single tax payment
2. Lifestyle Independence
One of the best parts for doing business is owning incredible time not more money. Business Owners are working based on their times. They will decide when they want to be busy or free. They will decide whether they want to go to other personal needs.
Disadvantage in Business
- Financial Risk
When you are doing business then you are taking a huge risk in financial terms. There is a huge risk to lose your entire investment if you are not successful in your business. You might lose your confidence for starting a new business. It depends on your type and size of business. Based on your investment can be defined as the probability of money loss.
2. Personal issue, Stress and Health Issues
When you are working on your idea or driving an entrepreneurship life then you will be having more responsibility and commitment to prove yourself in front of everyone. There is no doubt about it that at that moment of time you will have more stress level which occur so many health issues. A successful story will never tell you all behind the scene which he has gone through to make it a successful story.
3. Time Limitation
The moment you decide to work for your own or when you plan to live an entrepreneur lifestyle then most of the people think that when you are owning your business you will have more free time to spend with your family but this is not the real story from the first phase of your business. You should be ready to sacrifice so many things. You will be busy most of the time in your business planning to level up business where an employee will be busy in a day only for 8-9 hours. But still I would say only businesses are spending too much time on family get together, family functions etc.
When you start your business, you require a customer base to use your product/service. Method to promote your business is called marketing.
Type of Marketing
- Traditional Marketing
- Digital Marketing
- Traditional Marketing
Few years ago, business was running more offline rather than working in online internet space and reason behind this is only you can say that due to lack of computer knowledge or less technology awareness. Earlier marketing was happening mostly door to door marketing to sale the product and service by particular person and sales executive.
There are few ways to do traditional marketing for your business
- Pamphlet distribution
- Door to door marketing
- Tv Ads etc.
2. Digital Marketing
After Internet revolution, there are so many things changed in business process and the customer behavior. Entire ecosystem hits by the internet world and only those businesses are in existence who accepted the change. Now digital marketing made things bit easy to reach out to your customer to promote the business, product and services from one place. You don’t require to visit door to door. You can reach your customer from their social accounts, SMS Notification though mail and many more ways in internet space which will help for Lead generation.
Few technique and method to promote his business.
- Social Media Marketing
- Google Ads
- Video Promotion
- Affiliate Marketing
- Social Outreach
- Influencer Marketing
Anyone starts a business with financial goal and a sales is an exchange of amount for your product/service with your customer. In a very common word sales is a total generated revenue from your goods and service for any organization.
Exchanging of goods and services with money is called sales. Business word will be incomplete without sales word. Any business will work on a particular vision or mission but your idea or vision will become successful only when you are converting a sales it means your vision is turning into a profitable model.
Hope I have given an overview and basic fundamental of Fundamental of Business, Marketing & Sales. In case of any query & concern please comment below. I will reply to your comment or come up with new article based on your concern.
Deepak Kumar Pandey is a Digital Marketing Specialist, Author and a Poet who loves to work on new ideas and penetrate the business market by his digital marketing skills.
Deepak Pandey has one official Page for poetry is called Emotion_ink4 and Owned Hastag #Emotion_ink who is an active writer for Best Data Provider Company. People can read his poetry from his personal Instagram (deep_pandey) and Official Poetry Insta page (Emotion_ink4).