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You want to start a business but you don't know where to start ? Well this might help you.


Starting a business can be something tiresome, and sometimes confusing because most of the time we are not sure where to start. In this article we are going to look at the basics that one should consider if he or she wants to start his or her own businesses. 

The first step is to ask yourself if really you are ready to start your own businesses. Yes , motivational speakers will all tell you that everyone can be an entrepreneur but are you ready to be your own boss? To employ other people? To work very long hours? To handle criticism and pressure? To handle financial difficulties? and if your business is struggling in it's debut won't you just abandon and leave? The hard truth is that not everyone can handle that pressure, some people are very smart and can work for others and live a very good life. But if you are really committed and decided you can start your own businesses.  

The next step is to indentify the right business for you, is it in manufacturing, service or etc. It doesn't need to be new on the market but you need just to innovate so that you can compete with your competitors on the market, making sure that you will have people in need of your goods or services (products).

More to that, you have to deeply study your market, because you can't just invest your money like that, you have to study the location, the market in itself, will the people buy my products ? Why should they even buy my products? What do they have different from other similar products on the market? Most entrepreneurs skip this step which is vital for their businesses and which can cost them a lot. 

The other step is to establish your roadmap detailing your business in a very simple summarized way, showing what your business is , the partners, the services or goods offered, the cost , the resources ....etc. Your business road map will give you a clear picture of your business and from it you will design your business plan including your long & short term objectives which are measurable and realistic. 

Following that clear and concise step, one other major thing which has consequence either positive or negative on your business and most people don't think about, is the business structure or category or type. You have to carefully choose to which category  your business will fall into, is it LTD ( limited)? Is it ULTD ( unlimited)? Is it an enterprise? Is it a partnership or a sole trader? And you have to understand each type because each has its benefits and disadvantages.

It is worth to note that, you will need enough money relatively to your business idea so that your business can work, so you will need a source of funds, you can even borrow and be able to manage well your finances so that your business can keep the pace, pay back the loan and make profit. 

However it's not just money as though money is a very important asset to your business, the image you give it, is what will make it last because  clients will indentify your business not only by the products or the impressive offices or stands you have but also by the quality of service and client relationship you have with them. Therefore, your image is your brand.

Other things that you can consider includes the location and whether you buy the work place or rent, for how long and insurance for your business. You will need also to think about marketing and for this you need to embrace technology through websites or social medias. 

Finally, this is one of the most important thing you should consider when you want to start your business or even boost it, and it's nothing else other than seeking help from people who are good in such matters and are ready to provide you with the right ideas, those who are ready to help you with preparing the business road map, the business plan, those who can tell you more about the market and the right innovations needed, marketing, sells and etc....here what you should get is that you can't do it all by yourself, you need help. 



Do you have a question ? let us know in the comment section. 


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Comments

  1. Umusare Cynthiađź’–February 10, 2022 at 12:29 AM

    From this one can start a business with assurance to succeed
    Thank you

    ReplyDelete

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