We are creating some blogs for educating people for the water bottle business, who are entering as a business owner. That is our perspective.
So, As a business owner what you should do?
In this blog, We are going to cover the five basic steps to Start Your or Launch Your Mineral Water Business. So, Once You do the Initial Googling you may be in the place at what to do exactly?
In this blog, We Are Going To Guide You for Going Further with Your Business, As a Business Owner.
When You are a business owner, You are an investor…And the first duty Of any business is to generate some good revenue over a Period Of Time.
So, In that Case, to Assure you of what Practical Five Steps Should Take that We are listing Down:
Step 1: Decide Your Approach: Starting Small Or Big-Way
What Should be Your Approach?
So What We are mean by this is many times there are first Generation Entrepreneurs which we are observing, So for them taking an Initial huge Investment will not be a good option for them, Comfort-wise.
and they are not used to the risks and the follow backs of business life or entrepreneur Life. So, We suggest that you take a bottom approach. Start Slow. Slowly Bigger and reach a goal then invest again.
Rather the extra-base family business says Third-generation business. They know Pitfalls and know How to hold themselves in difficult times. So, for them, we would suggest that you should go to the bottom of the approach so you are comfortable.
Of course, they are comfortable. Even established businesses also prefer the bottom approach. So, Decide whether you want to start huge and then come down and break it down and then come out of your business.
So, this is the number one step that What should be your approach…So, This is the first step you should take.
Step 2: Study different Business Models: Own Plant/Branding/Distribution/White labeling
The second step is studying different models of this business. There are various ways people do it..It’s just not that You should have your own manufacturing plant.
So you should study the models like having your own plant Or just branding it and getting it from anybody else. Whether you should go for only Distribution kind of business with a raw capital.
Or you can even think of white labeling..You must have seen that somebody else is making it and you making it for hotels..There are many kinds of models available, So study these different models and study the resources needed.
Each model needed some resources so study the land, water, money, and all that. The documentation part and most important ROI(Return Of Investment). So once you do some estimation and forecasting you can have your Own ROI and this kind of thing.
Step 3: Your Own Business Model: Business Model Canvas
The third step is arriving at your own business model. First of all, Identify what you are comfortable with, as we told you. The investment kind of thing how much can you take the risk.
Though you may protect it still you should be comfortable with that kind of investment. We would suggest that don’t go out of the way.like your readiness is 25lakhs and the cost sheet comes to 1cr. or 2cr.
You should really think about it and then do it in your investment.
Step 4: Have a Proper Business Plan
Point number 4 is Once you decide your business model you should have a proper business plan in action.what the plan does is decide your mission, your vision, goals, milestones, how you are going to meet, periodic review and all that.
Step 5:Protect your Intellectual Properties
The last step is whatever you create, as a differentiator protect your Intellectual Properties. Intellectual Properties is the most important thing.
so, you should create and protect your trademark, copyrights, designs. So, all that is available and available under the government Start-up Scheme also. So, Government is Offering Good Concession rates for that.
If you need any expert advice please come to us, we will guide you.
So, these were the five-point on actually you should build your basic decision to go for the mineral water business.