Wednesday, 18 November 2015

SIX IMPORTANT THINGS TO KNOW IF YOU WANT TO START YOUR BUSINESS.

6 IMPORTANT THINGS TO KNOW IF YOU WANT TO START YOUR BUSINESS.

Its no longer a new topic in the mouth of every youths today. The question is "How do i start my own business?" Starting a business is never a problem but the success of the business will be determined by the level of your knowledge. The uproar in the economy is a significant signal why you should be your own boss and be financially free. You cant be guaranteed a job security as many company's financial power is declining every day.

I have been faced with the above questions on my social media and during my monthly  'Success Boost Forum' mentorship. To this end, i have decided to inform you the 6 most important things you need to know before you can start or run a successful business. Answers to these questions determines whether your ideas and plan will ascend to the top. Here are the questions:

1. Have You Discovered What Talent, Skills and What Your Passion is?

In my consulting service,the first thing i always my client is what are your expertise? Do you have a talent? What skills do you have? Answers to this will lead us to the next step.

Reason for lots of business failure today is because many people don't really know why they are in business and they invest in a business because a friend of family is doing it. While some are in business just because they heard that people doing the business is making millions,so for this reason they invest their hard earned money only to get their finger burnt within a few days. These are the set of people that will convince you that starting a business of your own is not good.

Dear friend, i have discovered that talent,skills and passion has a lot to do in your success in life. If you can discover yourself then you can create a niche with your talent and skills, if you do what you like ,it will help you to overcome any odds you might be facing at the starting point. Yes,the aim of every business is to make profit but if you don't have passion for what you do how can you convince people to buy in to your ideas?  You need to invest your money into what you know how to do best. You need to discover yourself get more information and package your ideas.

2. Find Out what People are Looking For.

Since you have identified your talent,skills and passion the next thing is to research and find out what product and service people really want. Use your talent to create a niche and match it with what people really want,if you can get the answer to this then you have already reached the middle of the ladder of success. What and what will these people buy from you? What services are they looking for? You really need to move out and do a good research in your community to see what others are doing that are not good enough. Think if you will need to re-invent,re-package, make it cheaper or introduce a new thing. If you can discover what people want ,the sky will be your stepping stone to financial success.

3. Solve people's problem.

Everyday people are trying to solve one or two problems. If you can find a solution to all their problems,you will become their boss because they will look for you to give them the solution to their problems and this will continually add add cash to your bank account.  Few years ago their is no other way to connect with friends and family and share ideas pics etc but one small boy turned his foolish Talent and passion into a profitable idea to what brings everybody together no matter where you are in the world. That small talent and his passion is what will call FACEBOOK, now as you connect freely he has more than  15 billion people on his network and guest what! He makes money through adverts Company's and most of the big business now buy ad on that free site while that boy smile to bank every day. Today he is making billions of dollars monthly.

Mark Z. the owner of facebook was able to solve peoples problem by creating a platform that will allow them to connect and share things together. This is a great problem and i know people are happy with his idea even you because i know you are on Facebook,lol.  Do you have business couples in your neighborhood, who as a result of the nature of their jobs they cant care for their kids? Take care of their laundry's? While not  think of setting up a creche to help them take care of their kid? While not open a dry cleaning shop and charge for your service?

Don't waist your time,don't let the ghost of NYSC chase you up and down, you can do something meaning for yourself. You can start a coaching class for new students that want to write WAEC,NECO and JAMB etc, if you can do that then you have created a solution that will make you financially free. Their are lots of problems you can solve, all you need to do is just choose one and create the solution. Check out a burning problem in your industry and create a solution to it.

4. Get Information.

You basic understanding on how to run your business successfully and you can achieve that by sourcing for vital information's as regards your business. You to know what and what will make your business grow or fall. You need information on how to get your products and services to your customers and also retain them. You need to learn about the marketing techniques you can use to out smart your competitors. I am not talking about business degree but a basic foundation knowledge to get you started.  You need a mentor and seek the advice of a consultant. You need knowledge to decide on what advice to absorb from your advisers,if they will make or mar your business. You need to learn everything that will make you to succeed, internet is there for you and you can learn from other business owners,attend seminars, workshops,buy and read good books. Remember,it's your business and the success determines your input.  What can you learn to help you grow?

5. Get a Business Plan.

Don't push it behind,you need a master plan ,a road map that will be your compass to success. You need something to defined what you really want,how to get your product and services to your clients. You need to plan your marketing strategies,advertising strategies and how to meet the needs of your potential customers. If you desire to get a loan to start or boost your business, you will need to present your business plan to enable whoever that want to give you the loan know what you are up to. It is the Business plan is everything,you need it so work it out or get a business consultant to get you one.

6. Take Action And Start Now!

Hey, all the big business you see today started out small with humble beginning. Don't worry about the money to start big but work on that little capital and start small then begin to grow it gradually, don't rush just take a step and walk slowly till you can fly. The Dangote Group of company's started small and today he has many big investments. Be a risk taker ,all the successful entrepreneurs today went from adversity to success by being resourceful. Don't be afraid to start even if you have nothing just keep this 6 golden keys in mind and you will make it. You might just be a step away from your first million,so what is holding you back?

On a final note, you need to take some time and look around for business opportunities. Talk to people,research and brainstorm. All you need now is just a small simple idea,refine and innovate it. Get a mentor who you can climb on his shoulder to learn the simple tips of starting, running and managing a successful business. Believe in yourself and think positive.

You will succeed.
Hope Uchemadu
Speaker,Live & Business Coach.
follow me on twitter @ Mr_Uchemadu