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  Entrepreneurs are frequently told that a business plan is the first crucial step before launching a venture . This formal document is more than a formality; it's a strategic tool that helps you focus on critical details, uncover overlooked issues, and refine your path to success . However, a truly effective business plan is the result of deep preparatory work. Before you begin writing, entrepreneurs and experts advise working through several key elements that will form the backbone of your document . Here are the six essential things you must do first. 1. Determine Your Purpose While a primary goal of a business plan is to demonstrate profitability to investors and lenders, profit is far from the only thing that matters . Alan Williams, co-author of "The 31 Practices," notes that business plans often focus on  what an entrepreneur is going to do, overlooking the more critical questions of why the business exists and how its people will behave . Entrepreneurs should f...

 Every entrepreneur is told they need a business plan. It’s the roadmap that guides your strategy, secures funding, and focuses your efforts . But jumping straight into writing the formal document is a mistake. A great business plan is the final output of a deep, strategic thinking process. Before you sit down to write, there are several crucial foundational steps you must take. Completing this preparatory work will not only make writing the plan easier but will also ensure that the plan itself is built on a solid, well-researched foundation . Here are the six things you must do first. 1. Determine Your "Why": Define Your Purpose A business plan traditionally focuses on the "what"—what you will do to make a profit . But a sustainable, inspiring business is built on something deeper: your "why." Why does your business exist beyond making money? Why should employees be excited to work for you? . Take the time to articulate your company's core purpose and...

 Formally registering your business is the foundational step that transforms an idea into a legal entity, capable of transacting, owning property, and growing. In Nepal, the company structure is governed by the Companies Act, 2063, and all registrations are handled by the Office of the Company Registrar (OCR) . Understanding the different types of companies and the specific documents required for each is crucial for a smooth registration process. This guide provides a detailed overview for Nepali citizens, foreign investors, and those converting existing firms. Understanding Company Types in Nepal Private Limited Company (Pvt. Ltd.): An entity with a maximum of 50 shareholders. This also includes companies with a single shareholder . It is the most common structure for startups and small to medium-sized enterprises. Public Limited Company (Ltd.): A company that is not a private company, with at least seven founders and a minimum paid-up capital of NPR 1 Crore . Its shares can be ...

 Turning an entrepreneurial vision into a reality is an exciting journey, and in Nepal, one of the first formal steps is legally establishing your business. The most common structure for new ventures is the private company. A private company can be started by a single individual or a group of up to 50 shareholders . Registering your company can seem complex, but by following a clear process, you can navigate it smoothly. This guide breaks down the essential steps, documents, and fees required to register a private company in Nepal. Where to Register? All companies in Nepal, regardless of type, must be registered at the Office of the Company Registrar (OCR), which operates under the Ministry of Industry, Commerce and Supplies . The Registration Process: A Step-by-Step Walkthrough Much of the initial process can be completed online, making it more convenient for entrepreneurs. Step 1: Reserve Your Company Name The very first step is to ensure your proposed company name is unique and ...

As entrepreneurs, we are obsessed with the "how." How to build a better product. How to scale faster. How to secure the next round of funding. We fill our calendars with strategy sessions and our minds with metrics, relentlessly optimizing the tangible parts of our business. But what if the most significant driver of our success isn't found in a spreadsheet or a business plan? In his book, Twelve and a Half , serial entrepreneur Gary Vaynerchuk argues that the secret sauce to business and life success lies in a set of emotional ingredients—the "soft skills" that are actually the hardest to master. These aren't just feel-good buzzwords; they are the bedrock of a growth mindset and the operational framework for resilient leadership. Forget the pitch decks for a moment. Let’s talk about the real toolkit you need to not only succeed but to build something meaningful and sustainable. The Foundation: Your Inner Compass Before you can lead a team or serve a market,...