STARTING A BUSINESS
A business is an activity that you engage in with the aim of providing a solution that solves a problem which people may be facing and in the process you make money. It can also be described as an economic activity since at the end of the day, you must make profit .Generally, a business has often been described an activity where you exchange goods or a service for money. However if a business is not solving a problem or alleviating a challenge facing people it may not go far.So what steps do you need to take as you start a business?
- You need to find out what it is that people want. Your business must serve a need or/solve a problem or fill in a gap or alleviate a challenge. Research as much as you can in order to get all the necessary information regarding your business idea.
- What resources do you require in order to start your business? These can be in terms of money, skills, knowledge and facilities among others.
- A positive mindset will go a long way in making you succeed in business. It will help you conquer fear and overcome the Nay -Sayers. Unfortunately in this life, most people will discourage you instead of encouraging you. Do not fear to take risks; as they often say,” Risk nothing; gain nothing”, “No risks, and no gain”.
- It is advisable to engage in a business that you love; you have passion for, you are knowledgeable about and you have skills. You need to do a SWOT analysis of yourself to start with; what are your strengths, Weaknesses, Opportunities and Threats?
- Start small and grow big; starting small does not mean that you will remain small; Business is a learning process. You will make mistakes and learn from your mistakes. Always remember that a;’a journey of a thousand miles, start with one step”, and “Rome was not build in a day”.
