Rules to follow to succeed in your Start up business

A startup company or startup or start-up is an entrepreneurial venture or a new business in the form of a company, a partnership or temporary organization designed to search for a repeatable and scalable business model. These companies, generally newly created, are innovation in a process of development, validation and research for target markets. The term became popular internationally during the dot-com bubble when a great number of dot-com companies were founded. Due to this background, many consider startups to be only tech companies, but this is not always true: the essence of startups has more to do with high ambition, innovativeness, scalability, and growth.

What does it take to start and succeed in business? Although there is not one answer that fits all businesses, there are a number of practices followed by successful business owners. No matter what you sell, you'll be ahead of the game if you live by these essential rules for succeeding in your own business.

Ø Don't start a company unless it's an obsession and something you love.

Ø Be true to yourself. If you run a business you don't like or don't believe in, even if you have temporary success, it will come back to haunt you one way or another.

Ø Hire people who you think will love working there.

Ø  Sales Cure All. Know how your company will make money and how you will actually make sales.

Ø  Know your core competencies and focus on being great at them. Pay up for people in your core competencies. Outside the core competencies, hire people that fit your culture but aren't as expensive to pay.

Ø Choose products or services that you can sell for a lot more than it costs you to make or buy them. If the difference between your cost and selling prices is too low, you will have difficulty growing the business. When profit margins are too low, you won't have enough money to hire employees, pay for rent, advertise more, and do other things needed to expand.

Ø Make realistic estimates of your expenses, then double them. Most new businesses either forget about marketing, fulfillment, overhead costs, income taxes and self-employment or greatly underestimate them.

Ø Be true to your customers and prospects. Don't promise what you can't deliver. Don't lie or exaggerate the benefits of what you sell and always deliver a quality product or service. Word-of-mouth marketing has always been one of the primary ways small businesses find customers. The Internet and social networking sites spread the word (good or bad) to even more potential customers.

About Author: The author of this article has a passion for writing and has written many blogs related to Company Registration, Copyright Registration, Intellectual Property Rights, legal services, LLP Laws, Trademark Registration