This is not a how-to guide, more a study in the beginnings of a business.
How does a business start? How does it grow? What drives some to succeed and some to fail?
What is a business?
We all understand what a business is, but how is it defined?
A search among different sources will give you a range of different definitions. Chambers dictionary list it as defined below:
business noun 1 the buying and selling of goods and services.
This highlights the common theme among all the definitions, buying and selling. It doesn’t matter what the end product of the company is or what service it is that they supply what matters is that someone wants to buy it.
The aim of any business, no matter how lofty a mission statement they may purport to follow, is to make money. They need to provide something that other businesses or customers will part with money to have access to. It’s important to remember that not all businesses will have the aim of a profit. A charity can be run as a business, they may give away all the money they receive or spend it on helping others, but they still need to be able to have that income stream to be able to operate.
How Does it Start?
I’m not going to get into depth about the formation of a business in a legislative sense, whether a limited company, partnership or group, that information is for another time. I want to focus on the concept of a business itself.
A business always starts in the same place. With an idea.