Running your own business is no longer the reserve of seasoned professionals. Do you have the desire and drive to start your own business? Here is a 6 - step plan on how you can start your dream business and become an entrepreneur.

First of all you need to evaluate yourself!

- evaluate your skills and knowledge!

- know the type of business and industry you want to venture into!

- know how you'd like to work!

Ideally, you would want to gain some experience working in the area of business you want to pursue but do not be afraid to venture out into the unknown if you are motivated enough.

Nice one.
Hey, can you drop your email id?
My nl email is fualty. I cant access it.

missbronze:
Nice one.

Hey, can you drop your email id?

My nl email is fualty. I cant access it.

yeah my email is tnemag@gmail.com

2nd step - If you must start your own business, you need to have a good business idea.

A good business idea identifies a need and provides solutions to that need.

You need to know if there is a demand for your product or services.

You need to identify your target market, that is know who exactly needs your product/services,

You need to know if people would be willing to pay for your services/products and for how much,

You need to know if your services/product would offer a Unique Selling Point (u.s.p),

You need to be aware of any possible drawbacks or limitations in realizing your business dreams,

You need to know how your product/services can be free from legal implications,

If your offering or business idea is not strong enough, work on it or develop another,

If your business idea is good, always test it to ensure that changing circumstances don't render it obsolete.

Hi people, hope you had a great weekend where ever you are? Last week we discussed two steps in which you can become and entrepreneur or business person. This week, we will treat the next two steps in our session. Please, be kind enough to ask any questions and I will gladly answer you.

3rd Step - KNOW YOUR COMPETITION.

You need to identify your competition and understand how they do business.

Who are your competitors?

Your competitors are business people who are into the same business as you, that is they do the same business you do!

Search for them online by entering key words or phrases related to your business, service or product on search engines.

The top listed companies will give you an idea of who your main competitors are.

You can also find them in advertisements or features on industry magazines and trade publications.

These can help to reveal local or international competition.

You can also attend trade shows like trade fairs and exhibition workshops.

The largest and most successful of your competitors will likely have a presence at these events.

After you have known them, it is time for you to evaluate them.

Learn how people perceive or think about their services. You can do this by checking consumer reviews on google.

You can also learn how they promote themselves by signing up for any of their marketing materials, such as newsletters, company updates, social media or their RSS feed.

Learn how they work or through their sales process.

Look at your competitors and pinpoint their strengths and weaknesses. This will help you in knowing the best way to sell to your target market!

Hi guys! Happy new week ahead! Good news people, I might be having my first client/customer for my new business. All it took was for me to ask a question cos I saw her need and it rhymed with my solutions.

Your first customer might be close to you. All it takes is too ask the right questions. Do a marketing research. I am still on the verge of doing my research and its an on-going thing.

Tomorrow we will treat the 4th step.

Happy sunday folks!!!!

4th step - THE BUSINESS PLAN.

After you must have carried out the first, second and third steps, it's time you write down your business plan. Now a lot of business people think this is a plan allows them seek and secure funds for their business. Yes it can help you secure a loan or funds with any financial institution,but the most important reason you need a business plan is to know how you will run your business on a daily, weekly, monthly and yearly basis. Whenever your business encounters problems, it will be your guide or holy book to enable you go back on track!

YOUR BUSINESS PLAN IS YOUR BUSINESS GUIDE TO SUCCESS!

You can even change it or add new tips or ideas to it, especially we you discover what new strategies your competition have developed.

A successful plan will clarify your idea, define your long - term goals and provide a blueprint for running your business.

Your business should include;

- The business concept: You need to know the background of the industry you are venturing into. You also need to create and define your business structure. You need to describe how your products or services would work or provide solutions to your target market needs.

- Marketing and Competitors: You will have to include details of your target market demographics. This includes their age, sex, location, income level, religion, ethnicity, and will reasons they will buy from you. You need to identify your competitors and list they type of products and services they offer.

- Sales and Marketing: In your business plan, you need to create a unique selling strategy to ensure that your target market buy from you or purchase your products/services and how you will build your customer base.

- Management Team: It is important that you include details of everybody you are going to work with, their responsibilities and the skills they will bring to the table.

- Financial Requirements: You need to know how much it will cost to run your business. Here you take stock of how much you will be making on a daily basis and how much you will be spending too. This will be based on realistic projected financial statements.

- Risk Assessment: We all run risks in life. Knowing the type of risks your business will encounter is important. These risks may affect the success of your business. In the plan you will need to state how you would overcome them when you encounter them.

I advise that you start running your business before you go look for funds. When investors see that your business has value, they will fall over each other to put their money into it. Same worked for facebook, twitter, google, microsoft, jumia etc.

Hello friends! How is your week going on? Hope good?! This is the 5th step of the write up be posted this week. Sorry for the delay.

5th Step – FIND A MENTOR!

Starting your own dream business is not that easy. Challenges will not let you do so. People close to you will ridicule you and do everything in their power to discourage you and laugh at you. If you can overcome your fears, you will achieve more. Surround yourself with people who will assist you in achieving your goals. One of the best ways to do so is to seek or find a mentor.

If seeking a mentor, look for someone with;

- A successful business you wish to emulate,

- Experience in the industry you wish to enter or venture into.