There are basic things that one should know before establishing any business in the world, in Africa, America, Asia, Europe and the Middle East. These are indispensable facts and truths that must be followed religiously or according to the doctor’s prescriptions. Any negligence in any of them leads to failure or many never allow you to start any business. These simple steps are outlined below:
1. Identify the needs. Each business provides a solution to the needs of its customers. These solutions could be the provision of goods and services. Everyone under the sun has one need or another and is looking for a solution. And as you identify the needs and provide the solution, most of the time you will be rewarded in cash, for what you are already in business.
2. Identify your passion. There are many needs around us, but sometimes difficult to identify. So to do this, ask yourself the following questions, what do I love to do? What is your Hobbie? Singing, baking, serving, teaching, etc. Anything he likes to do without stress or a lot of supervision, or a lot of planning is his hobby. There are people who want to enjoy for money, so give it to them and earn some money.
3. Training. Training involves learning to know what you like to do more effectively and efficiently using the latest technologies and methods. Training brings out the best in you and sometimes identifies your passion and the needs around you. It is the acquisition of knowledge and wisdom is the correct application of knowledge. So training makes you wise. How much training do you have? Get trained today to enjoy tomorrow, save your time and money today to earn more tomorrow. Get more training today in any field in your business … or neglect it and regret it tomorrow. Technologies change and improve daily; improve along with training. Can you use the computer? Know that the money of half the money in the world is obtained through the Internet / computer. Ignorant is terrible, train today.
4. Capital. This is one of the biggest factors that condition the start-up of any business. Most companies were unable to get off the ground due to lack of them, or were unable to expand and continue due to insufficiency, and sometimes their surplus leads to lack of proper planning and poor management. There are several ways to obtain capital to start a business listed below: i. Personal savings. ii. Savings and cooperative regime. iii. Daily contribution and savings scheme (Isusu or Akawo). Iv. Contributions from family and friends. V. Bank loans. Saw. Camaraderie.
5. Location of the business. The type of business you want to start will determine your location. The factors that determine its location are but are not limited to: Closeness to raw materials, Closeness to market / customers. An agricultural business will not be located in the center of the city but in the town where there is a lot of agricultural land. While an internet / computer business will be located in the city center with internet facilities.
6. Socialization. Every business grows as a result of products / services and customers. A business transaction is complete when it reaches the end consumer. Training makes you an expert, while socializing links you with your potential customers. Always make friends, have a working phone line (24/7), an active email account (free), connect to Facebook and Twitter (free), let many know what you do, use bulk SMS to advertise your products and services.
7. Honesty and integrity. Skill and training get you on top, while honesty and integrity keep you on top. It’s one thing to start a business; it is another thing to maintain that business. Deliver what you promised on time, never change anyone. Bad news spreads faster than good news, so be careful and courteous to your customers. Maintain a high level of integrity and make sure you achieve it. See you at the top.