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Essay: Starting up a new business

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  • Subject area(s): Business essays
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  • Published: 21 September 2015*
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  • Words: 1,262 (approx)
  • Number of pages: 6 (approx)

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Starting up a new business is never easy.
Starting up a business can rewarding you with a new life but are no guarantees there but to survive there are some decisions to made and how to collect the information.
The new business which I will start up going to be a mechanical garage. Choosing a business name is one of the most important part of the business and his name is ‘2 fast garage GT’.
DECISION TO BE MADE
PAY
A primary decision to be made of recruiting personal will take into account a competitive salary, however it is well known if you decide to have qualificated staff need to have high wages. The ‘minimum wages is ??6.31’ (from October 2013 www.gov.uk) for this decision to be made we need to know the competitors wages and decide what is the best for us.
LENGTH
Another factor that will affect the decision making processes is the length of working hours. It is important for business to have 8hrs to 10hrs working hours a day in order to make a profit and make the business to run well, on the other hand for employees will be an opportunity to make a higher salary.
SECTOR
The next decision to be considered regards the sector of business activity.
After a research is being done shows the private sector is most appropriate for startup a new business.
In the table below can be seen a decision making proses.
SUMMARY
This are some of the factors which need to be considered in a making decision. This decisions will not be taken ease. There are several factors which will be considered. Financial resource is one of the most important one. In order to have all decisions first we need to know and haw to asses internal and external sources of information.
INTERNAL and EXTERNAL INFORMATION
DECISIONS INTERNAL EXTERNAL RELIABILITY
NAME FAMILY COUNCIL COUNCIL BRANCH
PLACE FAMILY COUNSULTANT
STAFF FAMILY INTERNET INTERVIEWS
WORKING PROGRAM COUNCIL
PRODUCT&SERVICE SUPLIERS
EXTERNAL
2 Fast Garage GT will be located on industrial area where going to be on opportunity for the new business having a lot of other trades surround me, and they can bring they cars for repairs or for normal service completing my list of clients, also the garage is equipate with a client area where can be serve until waiting with tea, coffee or a snack. Working program will be 8-10 hrs. Per day and if is necessary will be open on Saturdays. One source of communication with clients and suppliers or stakeholders going to be the INTERNET.
The adaptation of the INTERNET in the last 10 years has grown exponentially to have thousands of pages of information. This makes the internet a very common source of information for people. The timing of information makes the internet main benefit of it. The communication process is made easier with the internet. Compare with other sources of information the internet allows the applicant to have instant access to information.
Reliability for internet need be checked because of their open policy, on internet we can find information written by anyone if the source is not verified the information may by not accurate or not reliable. In case of source is proper referred so the original author can be found in that case the information can accurate.
READING MATERIAL it is another source of external information which going to be used for business. Newspaper and brochures and media can provide from a specialist or company in that domain. The reading material is more exactly source because information is checked and published.
INTERNAL
The Employees are engineering experienced workers whit more than 10 years of experience, all staff will be train at work to meet expectations. Their experiences can help make an informed decision and they can have information which can be vital. An employee’s insight will be less reliable then a manager but they still help on decision making.
One method of improvement of communication will going to be connecting CCTV cameras for monitoring and controlling also all the client requirements will be recorded on Clients Garage Agenda.
‘Communication is transfer of information and understanding from one person to another person.’
In order to have a communication always is need at least two individuals. (SENDER and RECIVER), and this make communication to be what Receiver understands not what the Sender says, and this is critical for success in business communication. For efficiency employees need to have good relationship between themselves and managers team-training exercises will be adopted to improve this communication structure.
It’s well known in an organization need to be order and in order to have that a Manager need to take place in hierarchy. The Manager will be the most knowledgeable in the company to inform the employees and keep contact with stakeholders. Manager information are most reliable because they are in the best position to advice and can answer more questions than other sources. The communication between manager and employees in the professional manner and environment can be improved with regulars meetings.
STAKEHOLDERS
In general a stake holders is anyone who can influence or is influenced by a business. They can be direct or indirect. Example of direct or indirect stake holders
DIRECT STAKEHOLDERS INDIRECT STAKEHOLDERS
MANAGERS COUNCIL
COSTUMERS GOVERNMENT
PRIMARY-depend on them SECONDARY-not essential
employees media
costumer
investitures
Local communities
After it is well known the importance of stake holders in my organization will take place next stakeholders.
To be understood on what I’m doing first I must understand them. Communication build dialog which can help to have a strong relationship whit them, and this going to be in my benefit.
The importance of my stake holders is shown in next table below.
Others professionals stakeholders who my by involve in the new business may be competitors which can be one of the new investitures. To make them to pay attention and attract them to new business I will show them my business plan on face to face meeting with the governor after I’m personally ask for, by telephone or leave an equerry for an appointment on they manager.
STAKEHOLDERS RELATIONSHIP
FORMAL MEETINGS INFORMAL MEETINGS MAILIING LIST NEWSLETTERS WEB SITE INDIVIDUAL BREFINGS TOURS OF DEMONSTRATION PUBLIC FORUMS ADVERTISMENTS
EMPLOYEES MEDIA TO ALL STAKE HOLDERS AND CLIENTS CLIENT,STAKEHOLDERS REGULAR UPDATES OF PROFECT
COSTUMER
COMMUNITY
INVESTITURES
Relationship are not ease or quick. To have a powerful relationship we need to collaborate, to have trust and to learn from each other. Communication need to be set early to create a safe environment which all are free to speak. The communication between organization and stakeholders can be improved for vital success and growth with regular meetings where they can be involve on decision process and any concerns can be asked.
The strategy for improvement for my business is marketing segmentation and information
INFORMATION
DEMOGRAPHIC 20-35years/25-60years
Medium income to high income
Most man Newspaper
GEOGRAPHIC Town Internet
BENEFITS Quality of work and quickly done
Good price Survey
PSYCHOGRAPHIC Medium social class Economical & political newspaper
SUMMARY
This garage will be my business in future, to be the e best in the town the staff will be well trained and capacity of work will be very good, we want that the costumers to be very satisfy.
It is hard to run a company which is dealing with people because I have to be the best in all and the communication is the major fact which will help me to be the best, so I have to improve my communication skills by doing some courses.

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