Company Registration Singapore 6 Tips for Newbie Entrepreneurs


Presentation Description

Breaking out of the bonds of a 9-5 job and opting for a company registration Singapore is not an easy task. It cannot be an impulsive decision. You need to prepare in advance before you could register company Singapore. It needs a sound business idea, resources, planning, & an experienced mentor.


Presentation Transcript


Company Registration Singapore: 6 Tips for Newbie Entrepreneurs


Yes, it is quite understandable that you are itching for your company registration Singapore and start your career as an entrepreneur. However, have you planned it thoroughly? ARE YOU A NEWBIE ENTREPRENEUR? You may commit to a company registration Singapore purely based on impulse. You may be aiming to be free of your 9-5 bondage, be your own boss and lead from the front. However, it is an entirely different prospect, if you invest a considerable amount of resources in preparing yourself before taking the ultimate step. Being an entrepreneur is a serious business. Before you take the leap of faith, you need to make 100% sure that you are ready to take on the responsibility. It is huge, even for a startup entrepreneur. Investing in pre-incorporation preparation can mean sustainability and the growth of your nascent business. Here are a few vital tips for the newbie entrepreneurs to muster resources to ensure the success of their new company registration. Go through them before jumping in to register company Singapore.


BUILD YOUR PERSONAL BRAND Before you resign from the 9-5 slavery, you need to let the world know that you are a competent individual. At this stage of the affair, i.e., before your company registration Singapore, you are the most valuable resource of your proposed company. And the others must also be able to see it and believe it. You can let them know about your abilities and capabilities by updating and polishing the resume. Give it a depth by including your inventiveness, accomplishments, knowledge and experience. Place your resume where your future investors, suppliers, employees, and creditors will be able to find it quickly.


BUILD YOUR PERSONAL BRAND Plan Actively to Secure Financial Resources Are you bootstrapping your Singapore company registration? How long do you expect your finances to last? Two years without any fund infusion? Yes, you need to make sure that you have enough funds to last initial barren phase of your new business. You need to really provide for the period before you start selling your products and services. Your budget must include provisions to run your company and funds to sustain you personally over the period. Your funds must last for at least 12 months to 2 years.


RESEARCH AND KNOW YOUR WAR ZONE The process for a company registration Singapore is a fairly easy process. In addition, the professional incorporation services provide expert guidance for the successful completion of the task. They even help out the entrepreneurs with the permits and licenses they need to acquire before the start of their business activities. If you are planning your company registration for a long time, your preparation should also include market research and surveys. These activities will enable you to know more about your intended customers. By knowing what they actually want allows you to tune or add value to your products and services. It will make your products unique to them. A startup needs to come up with products that will solve customers' problems and make a difference to their life.


CREATE BUSINESS PLAN One other thing that you must have handy even before you register company Singapore is your business plan. It is a document that details milestones that you expect your business to achieve. Express your ideas about your business through executive summary, business description, market strategies, competitive analysis, design & development plan, operations & management plan, and financial aspects. Be detailed and include Plan B too.


LOOK FOR A MENTOR The consultants that work in the field of entrepreneurship often complains that the startup business owners comes up with products as per their idea first, then, start looking for the customers. It is far better to know what the customers need and then, improve your idea to make the right product. This where the role of the mentor becomes apparent. A mentor is a person who can advise you and help you in not putting the cart before the horse. Such a professional can assist you by providing emotional support and timely advice. Such a person takes the place of consultants or a business coach and uses his or her experience for your benefit in establishing and growing your business network. Go through the list of your acquaintances who are in business and select the most qualified and seek the guidance.


ARE YOU READY FOR SINGAPORE COMPANY REGISTRATION? When you are satisfied that you have done what you could about the points mentioned above, proceed with your company registration Singapore. Try to manage your job and your new business registration side-by-side. Your job will provide you with the money till you consolidate your position with the budding company. Do not forget open a corporate bank account for your business. It will help you in keeping your business and personal finance separate. Sooner or later you will realize that your new Singapore company registration has grown and needs your full-time attention. Take stock of things and decide whether to quit your job. If you still want to continue with your job think about hiring employees for your company and delegating a few of the task to them. Indulging in a company registration Singapore is easy but nurturing it to its fullest potential is quite a task. It is totally different than doing a 9-5 job. However, it has its own advantages. It is a rewarding channel for the creative individuals for improving the lives of their customers. Stay focused on your goals and moreover be patient, as running a business is like participating in a marathon than in a 100-meter dash.


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