Thinking Of Starting A Business?

Every business you see today started as an idea at some point in the mind of the entrepreneur. That is why Sam Adeyemi said, “Everything in our world today was created twice, first in the mind and secondly in reality”.

Are you looking to start a business? It starts as an idea. From your own thoughts even though you can leverage on the ideas of others but don’t steal ideas. You can generate ideas by thinking of unique and creative solutions to our everyday issues and problems.

A business will not do well in any part of the world when the promoter is not deliberate about it from the very beginning. There are lots of copy and paste businesses around here. People just copy ideas. No creative thinking and we’re not deliberate enough to deliver top notch services either.

By curiously reflecting on our everyday issues, you’ll open yourself up to the real causes and possible solutions to the problems. Fantastic ideas are born that way. After getting the idea, research extensively about it especially the needs you’ve identified. Something more innovative may come up.

How much knowledge of the idea and the solution do you have?
Why do we always ignore knowledge when it comes to business?
Why is the knowledge of an enterprise and the dynamics of it’s workings not important to the entrepreneur?

If you’re really serious about starting a service or product based business, then get good knowledge of the kind of business you want to start.
How viable is the idea?
Who are the people that will need your products or services?
What need is it solving in the marketplace?
What is the market size for the idea?
Does it have potentials?
What other options or alternatives are readily available in the market?

Starting a successful business isn’t complicated, most successful businesses didn’t start out complicated, they started small and simple, but growth often brings complexity. You need knowledge of your chosen industry as a form of protection for any amount of money you want to invest. Know the business yourself.

Remember, we have so many needs in Nigeria and Africa and these needs are all opportunities for a business. Once you have the knowledge, check out the requirements to start off. If it’s a product based business, find out what machineries or equipments are needed and a suitable location to situate the business. What kind of financing will you need? It is always recommended that you start small and with your own funds.

Pick a business model to pattern your business after. Business plan is good and so also is business modelling. Make a choice and plan your operations. Put your marketing plan into the model and you may also want to engage the services of professionals in giving shape and structure to your potential business.

Finally, start with whatever you have, engage your spirituality and you’ll be on your way to an adventure into entrepreneurship.

#MM

3 thoughts on “Thinking Of Starting A Business?”

  1. Message: Thank you for this write up, gave me tremendous insight on what I believe I didn’t do, what I did and didn’t do right or well when I was starting my business.
    Hope there will be a piece too on how to reinvent a business gone sour soon.

  2. Thank you Tunde ADISA. You’re truly qualified to speak about Business, you’ve been there and your experience is enormous.
    Thank you sir for sharing with us from your wealth of experience.

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