Are you thinking of starting a Business?
but don’t know how to start a small business in Dubai?
Starting a small business requires a lot of thought processes, decision making, choices, and a strong mindset to work on it constantly. Identifying a profitable business niche to getting the offers or services delivered requires many important tasks within.
Running a business can be a roller coaster ride, but proper guidance and determination can make it hassle-free, and smooth. So, before getting into the launch, you have to be very clear about your mission, and vision for your business.
Your business involves your products or services, employees, clients, vendors, dealers, and a lot of external factors also. The curation, location, people involved, mode of business, registrations, sourcing of materials, data keeping, finance everything should be taken care of well.
All these can be overwhelming when you hear them for the first time.
But,
Today we would be helping you to break down the entire process into simpler steps, and guide you to start a small business in Dubai in the easier way possible.
The main key elements to focus on when you start a small business in Dubai
1. Apply for a license, and register your business.
If you are starting up a revenue-generating business in Dubai, getting a legal license is important. Register your business legally with all the proper, and relevant information. Be very clear about the documentation, and legal procedures. This ensures you avoid all the legal penalties or issues that can happen otherwise, or in the long run.
This task can be daunting if you don’t have proper guidance. There are different types of licenses based on the mode of business operations. If you are not sure of the legal procedures, get an expert, and get your registration process, and license done with their help.
Though it requires some initial investment, it is always a great option considering the future. Make this the first priority. Then you are ahead of the first step to starting a small business in Dubai.
2. Find your profitable Business Niche
The very first step to starting a business in Dubai, or any other place, is arriving at a profitable business idea. You can come to a decision, by asking yourself 3 significant questions:
- What are your best skills, that you are passionate about, and love doing?
- Can you monetize these skills and interests of yours? Is there any market demand for it?
- Do you think your skill can solve a significant problem or pain point in the market?
When you brainstorm the answers for all of these, we are sure that you will arrive at your profitable business idea. It can be a product-based business or a service-based business. If it clearly solves the pain points of a set of people and has enough demand in the market, you can go ahead with it.
2. Defining your ideal Customer
Once you have decided on a profitable business niche, the next thing to consider is the people to whom you are going to sell this. Yes, your ideal clients we meant.
In order to sell something, you have to know who will be benefitted from your product or offers in the best possible way. Your target audience should be the ones who are going to get the maximum benefits out of your product. Only if you have a clear idea about your ideal client, you will be able to market your products to them.
What if you are marketing to the wrong set of people? They are never going to buy from you, right? So make sure you do a clear Customer persona exercise for yourself.
3. Define your business operations
There are a lot of procedures that come into the backend of your business. From sourcing your materials, having a workplace setup, hiring manpower, coordinating the online setup, setting up the website, e-commerce site, and other legal formalities, to financial investments, it is a long process.
You have to decide on how you want to operate each aspect of your business. It is crucial to arrive at a decision about the location, need for a production unit, the delivery, and packaging of products, and the list goes and goes. All of these should give a proper in-depth thought in the first phase itself.
Know more about how to work with a Business Coach in Dubai
4. Arriving at a Brand Name
Choosing a brand name is an area where you need to think about a lot.
A brand name should be something your target audience can quickly remember. It should not be too common that it can get drowned in the market, and also not so difficult that your clients may forget it. Make sure you get the domain availability also.
Make it crisp, and catchy. The name should make an impact on any person’s mind. The name should reflect close alignments with your brand also.
5. Pricing
One of the ultimate goals of any business, would be revenue generation, right? So if your pricing goes wrong, everything would go in vain.
Your pricing would include, your worth, your time, and efforts, your expertise, and your profits as well. Do a background market research of prices so that you can get an overall idea of where you stand. Never make it too law to attract more clients, as this may lead to attracting the wrong client.
Though you have to consider your efforts, make sure that it is what your clients would pay also. If it’s a product-based business, make sure you have products of different price ranges, and if it is a service-based business, again, make sure you have both high ticket and low ticket offers.
6. Team development
If you are a solopreneur, there are so many advantages that are prominent in your business. Mainly when it comes to the finance, and administrative aspects. But at the same time, hiring a team for your business is going to benefit you in the long run. The crucial step is to decide when you have to scale your business and expand your team.
The sooner you hire, the faster you may achieve your goals. Gradually, your business can scale and generate revenue in a better way.
7. Business Strategy
Marketing and promoting your business are as important as curation and delivery of the products or offers. You have to decide on the platforms you are going to market your products.
There are a lot of platforms available for eCommerce and social media platforms that can help you market your business. You have to choose them wisely according to the nature of your business, where your target audience hangs out the most, and the mode which works the best for your business.
Marketing channels ranging from social media to google ads are flourishing day by day. You have to decide when you want to invest, how much you want to invest, and how often you need to invest in promoting your products.
As social media marketing is taking over the world, make sure you make that a part of your strategy as well.
Learn how having a social media marketing strategy can also help you grow your business
If you are looking for expert advice, or a team to support your marketing needs, and help you generate more leads, we are just a call away. Our marketing agency works closely with the brand, and helps them build a fanbase, and convert their followers into clients.
Are you all set to start your small business in Dubai and upscale your Business on the right path? We can’t wait to see you start your small business set up in Dubai, and flourish.
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