Building a business is no easy task. This easy to read step by step guide provides an outline for starting a business in just four easy steps.

Creating a successful and profitable business is no easy task. It’s reliant on many outside factors, including competition, timing, and demand

Which you have very little to no control over at the beginning. Assuming all of these outside factors are in your favor, having a sound business plan can lead to having a successful business.

Here are five steps to consider when you’re building your business from the ground up:


1. Determine your business brand. What are you selling?

This question isn’t as easy to answer as you may think. For example, Nike is in the sportswear business, but the truth is that when you buy a pair of Nike shoes and a t-shirt at the mall you’re buying a lot more than sportswear — you’re buying an image, a feeling. You're buying the Nike brand.

Keep in mind, there’s more to a brand name and product that, well, the product. Your brand is what sets your product apart from your competitor’s. so its best your work on your brand and create a selling point for yourself



2. Select your market. Who are you selling to?

This step is a bit less interpretive as the first, though equally important. Who are you selling to? or more importantly, what do you know about this person?

Understanding your consumer is a key to success. What do they do? Where do they hang out? What do they watch on television?

These are just a few of the questions that you should be able to answer about your consumer. Knowing the answers to these questions can answer a lot of questions of your own when it comes to a devising a marketing strategy.

Buiding a brand you should have this amazing ability to figure out the things that people want to have." This ability to perceive your consumer's desire can only be a result of knowing them like your neighbor, Friends, and family.


3. Create a marketing strategy. How do you speak to these people?

This is a culmination of understanding your brand and your consumer. As mentioned in number two, understanding your consumer can answer a lot of questions concerning your marketing strategy:

Where should you advertise? What's the voice of your brand? What kind of prices are reasonable for this demographic? In order to engage your consumer, a.k.a. sell your product to them, you must know where your advertisements will be noticed, how to speak to them, and how much they will be able to spend, among many things.

Really, this step should have been combined with the last because who your market dictates your marketing strategy entirely.


4. Learn by example. Seek advice from those who have done it.

There are many books written by professionals who have already started their own business and have been successful in doing so.

Remember, building a successful business is not all about the money. Equally as valuable is your brand equity and your ability to engage your consumer, which is only attainable by understanding them.

Assuming there is a demand for your product, and you can compete with the other brands, following these four steps shall guide you in the right direction.

Source University Of NairaLearn