How important is experience when starting a business? How can a company attract customers? How significant is a company's image, and how can it be improved?
An entrepreneur must choose very carefully when to start a business, usually after some market research and experience has been gathered in the chosen field. Catalin Ungureanu, the founder of Inox Style, which manufactures stainless steel home decor products, considered these aspects when he created his own business in 2004.
"I had 15-years' experience in the constructions sector when I decided, together with my partner, to set up the company that provides stainless steel railings and stairs, a segment that was poorly represented at that time," explained the entrepreneur.
In his opinion, starting a business in a sector one is unaccustomed to brings with it risks.
"However, they say that in order to make this step you have to be a little bit mad or you won't succeed, but you must consider the risk very carefully. I had no fears when I made my decision, because I was aware of my potential and I believed I was the best," he specified.
Ungureanu had to draw up a business plan, rent some space, acquire the necessary equipment and recruit workforce, while initial investments in the business amounted to 5,000 euros.
"The field I now operate in was chosen in the wake of accumulated experience," he added.
What does his status as an employer mean to him? Being connected to the problems that emerge and taking on a great deal of responsibilities are just a few aspects mentioned by the businessman.
As for the material benefits your own business can bring, Ungureanu said that even though the material aspect comes second, he believed he could become a millionaire in the future.
He cited red tape and a changing legislative framework as some of the most difficult hurdles he had had to cope with.
The business started with 2 employees and now there are 12 people in the firm.
Inox Style's customers include state institutions, company headquarters, industrial enterprises, bars, clubs, restaurants, drug stores, hospitals and private clients.
"For customers, it was the company's productivity and innovative attitude that counted. Customers were also attracted by the consulting services offered by the company and the unique stainless steel models for sale".
The firm's partners include Sicomed, Elvila, Euroconstruct International, Kandia Excelent, Farmexim. Prices for railings start from 100 euros and prices for stairs from 3,000 euros," he added.
In 2007, the company posted turnover worth 200,000 euros, up 100% year-on-year, in the wake of the company's improved position on the market, while the generated income is reinvested.
Inox Style
Initial investments in the business amounted to 5,000 euros
Started with 2 employees and now there are 12 people at the firm.
Customers include state institutions, company headquarters, industrial enterprises, bars, clubs, restaurants, drug stores, hospitals and private clients
In 2007, posted turnover worth 200,000 euros, up 100% year-on-year, in the wake of the company's improved position on the market
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
