TEN THINGS TO CONSIDER BEFORE STARTING UP A BUSINESS

Starting up a business can be very easy and encouraging if you understand the concept involve. Obviously, starting up a business is not the main issue, maximizing is also another factor that should be considered. In this program, we are going to be learning some basic ideas in starting up a profitable business.
These tips, were gotten based on Business researchers and best selling books on Entrepreneurship.


1. 1. BE CLEAR ABOUT YOUR “WHY”?
Embarking or venturing on a road to being a business owner is one that needs to be considered and observed in detail before setting out. Being an owner of a business is not for every one, it is bit challenging, there is lack of certainty, it can be very hard financially and it will take a lot of work. it is never a walk in the woods. It is NEVER a walk in the woods. You just need to be clear about WHY you need to venture into that business.

2. 2. CHECK OUT THE COMPETITION AND WORK
Give your self a time to visit any competition, or similar styles of business .See what they could do better. This would give you an imagination of how business would be different and also create impact in the environment you intend venturing into. To start a business without checking the competition is a very silly approach.ok lets be frank now, you intend selling books in a school and possibility the next day you start working there only to find out that they have up to over 15 books stores there and lack canteens moreover what would one expert, that’s a school.

3. 3. KNOW EHO YOUR CUSTOMERS ARE:
It is important to know who is going to buy your goods, research about the people intend selling to and know what they attest to and possibly detest. Who is your niche market? Describe your ideal customer? The clearer you are about who you are going to be selling to the clearer you can be about your branding, your geographical location, your marketing, your cost or rather pricing. Be as specific as you can about your customer and try to know more about them. If you intend going into food business, know the type of food they like. The food MR A might accept might not be the same with MR B.

4. 4. RESEARCH ON HELP TO DEVELOP A REALISTIC BUDGET
When starting up a business, it is easy to be overwhelmed either due to the gain or loss, but mind you that’s just for the while. If you don’t plan further, you might end up getting a bad story. This often to over estimating income and estimating the costs linking with starting up a business double how much you will get, double how long it would take to start up the business and halve the income.
Remember: A successful business requires Patience.

5. THINK OF HOW TO GET YOUR CUSTOMERS
To be frank, many individuals make this mistake a lot. How? Yes How… starting up a business, requires patience as I earlier stated. Research who you intend selling to and what they like. Research on their financial status e.g. you can’t come to a non-developed area where they sell rice for 100 to sell yours for 500? Jerkkk You will loss I tell you...
Why you may ask?
Who are your buyers I am going to also ask. You need to know about the people you intend working with I tell you, you are going to succeed.

6. GET YOUR ADVERTISERS.
Source for people that would help bring your business to the notification of people outside. This step is mostly related with geographical location and economic status. If you find your self where people there are not socially inclined, you create an approach to them. If you find your self in a town, you can take your business online. There are many advertising companies that are willing to help boost your business for little amount of cash. Work with them and see you business moving to the next Level.

7. Get an ACCOUNTANT
Though you can be an accountant of your own if you are working on a small scale business. There’s nothing to stop your finances yourself and completing the whole tax return and company accounts, but an accountant is often a wise business investment. Not only will they save you hours of frustration and ensure that your accounts are legal and above board, but they can actually help you save money by ensuring that you are making the most out of tax break

8. GET YOUR MATERIALS READY
Similar to getting ADVERTISERS: You may have a business but if no one knows you, your business is not going to gain a dime. Marketing materials can be very simple as like getting flyers, banners or even using strategy 6 above to get your customers aware that your business exists. You can establish a web presence as I earlier stated in many platforms like Facebook, Twitter, Linkedwithin,Or even Google.These are platforms people visit everyday and there is a 1001 possibility that someone via those social media platforms will come in contact with your business and if it moves in form with what they have in mind will contact you.

9. GET READY TO WORK
Starting up a business and earning from it is not something that involves coming up and feeling relaxed. Hard work is to be put in place if you wish to succeed in that business. Be agile, be willing to put up a smiling face to your customers/consumers and I bet you will not regret.
Let me give this little tip I learnt from a friend. She sells goods for 100 N and her neighbor sells for 80. Obviously, anybody would love to buy from the one selling for 80N but I decided to buy from the girl selling for 100N: Not that I have the money to spend or to use but have been observing the two sellers. The Latter always put up a smiling face to consumers while the former acts like a kinda hudde.Puts up angry face while selling to the consumers and that’s one secret I got to know.

10. BRANDING
Branding your package is ....

Source: http://unnedu..com/2014/12/ten-things-to-consider-before-starting.html

A top notch advice.