Yemi is a Young man based in Lagos Nigeria, he has passion for Entrepreneurship, after graduating from the University Yemi decided to set up a printing company. Few years down the line, Yemi is facing a lot of challenges and he is contemplating going into liquidation. Just like Yemi many Startup Entrepreneur are packing home because they were not well equipped with all they need to survive the turbulent water of business.

Before you Launch your Start up this is the things you must know

1. YOU MUST UNDERSTAND YOUR MARKET:

As a startup entrepreneur you must have an in depth knowledge of your potential market which will help you in your market penetration and retention strategy. Some of the basic things you are expected to know about your target market includes your target market segment, how large or big is your market size is, and the consumption behavior of your potential future customers. This study should be contained in your market research which will guide you in the marketing of your products and services. It is always advisable to involve professionals so that you can have a professional perspective of what your market segment is like.

2. TECHNOLOGY DRIVES 21ST CENTURY BUSINESS: You have to go with the trend. For an instance if you a establishing a saloon business you must have a website and a well documented portfolio of your present and past works and strong social media presence which will speak a lot about your professionalism and competence. Many wise Entrepreneurs are now leveraging on the opportunities provided by the internet to take their Startups to the next level.

3. UNDERSTAND YOUR STRENGTH AND WEAKNESS :
Every business has their strength and weakness therefore understanding your strength and weakness will help you maximize your strength to capture more opportunity while at the same you work on your weakness not to weigh you down.

4. YOUR TEAM MEMBERS MATTERS A LOT
Who are the people you have in your team are they opportunist or dedicated Team members who shares the same mindset and vision with you, understand your mission statement and your organisation's corporate goals and are ready to work with you to take your start up Company to a greater height. Your team should be people who are willing to work with you in the darkest night to dine with you in the brightest morning. The type of team and their competence will determine how far your business will go

5. BE READY TO SACRIFICE:

Every good thing does not come easy, this is a popular quote we all know very. In business Life cycle there is times of sowing and there is time of reaping. Take for instance Amazon could not break even for many years because most profits are reinvested into the business but today Amazon is one of the largest firm in the world and its founder is the richest man on earth. As a Startup Entrepreneur bear it in mind that you have lots of sacrifices to make to take your startup from where it is to where you want it to be.

6.PARTNERSHIP HELPS:
One of the secret of most successful Startups is Partnership. Look for already existing business or start up around you and approach them for partnership, tell them vividly what both businesses stand to gain from the partnership. Partnership is always about mutual benefit, make sure you legalize every agreement to avoid future trouble that may arise as a result of friction that might erupt between you and your partner.

7. YOU MIGHT NEED TO TRY NETWORK MARKETING:
I met an Entrepreneur who built his business from the scratch to 8 figures fortune firm in less than 6 years and asked him how he was able to do it and he told me that he leveraged on the power of Network marketing.
Network marketing is indeed the business model of 21st century which many firms are leveraging on for rapid business growth and expansion. Network marketing has lots of advantages which includes high brand awareness, acquisition of more customer base. Don't be selfish share your profit with people and watch how your business will grow. Building a multi million naira empire from the scratch will be a daunting task if you depend on your personal effort.

8. START FROM WHERE YOU ARE:
Some Prospective start up Entrepreneurs are still waiting for big capital base before they will launch their start up, they forgot that there are Entrepreneurs who started with huge capital base but today their startup have gone into liquidation because they lack the vital experience to pilot their business to success. You don't need all the money in the world to build a multi million business empire, all you need is the experience, right mindset and the skill then you can start small and nurture your business to a large empire.

9. HOW POWERFUL ARE YOUR IDEAS IN SOLVING SOCIO- ECONOMIC PROBLEMS.
There are ideas and there are ideas, Entrepreneurs that have powerful ideas which solves social and economic problems are always rewarded heavily. You don't need to go far to get an idea just look at your immediate environment who will eventually become your first customer and know what their major problems are for instance a young woman established a food delivery portal in Unilag to serve the university community, because she knows that many student and lectures have little time to cook breakfast. At the end of the day she has solved the problem facing thousands of people and she is rewarded for it. This is how a typical startup Entrepreneur should think, don't venture into a business because every other person is doing so.

10. REMEMBER THAT YOUR CUSTOMERS ARE KINGS AND QUEENS
You are in business because of your customer so you must have a strong customer relationship policy that will guide you through out your business. Some of the vital things that helps a firm retains its customer includes building trust, been transparent and having an effective communication with your Customer. You can set up an online forum on your website or integrate an instant messaging application that will enable your customers interact with you and voice out their opinion concerning your products and services. Some customers might just leave you for your competitors when they feel bad about your products and services but if you have a feedback mechanism it will be easy manage your reputation and retain their trust

11. NOW THAT YOU HAVE GOTTEN THE EXPERIENCE, SKILLS AND BETTER KNOWLEDGE OF YOUR MARKET SEGMENT AND YOUR INDUSTRY GO FOR GRANT AND POSSIBLY LOAN
By the time you must have been exposed to the fundamental rudiments of running a 21st century business and all structures are in place you can now go for grant, pitch your startup to Investors or go for Loan. One of the biggest mistake Entrepreneurs make is that they first go for loans even before they put their business structure in place. Since they are not away of the uncertainty, it might come hit them at the bad spot and they are down. Start a business with your savings, break even then you can go for loan or grant for expansion.


12. STUDY THE ENVIRONMENT WHERE YOU WANT TO ESTABLISH YOUR BUSINESS:

Starting a business which have to do with luxury in an area dominated by poor people will surely send you packing. The Environment where your business resides plays a crucial role on the success of your business except you have a plan of having huge online presence or your business is mostly online then you can even set it up even in the forest.

13. WRITE YOUR BUSINESS PLAN:

I have found out that many Entrepreneurs write Business plan for either Business grant competition or to get loan from a financial institution. One of the first task you should perform as a startup Entrepreneur is to write down your business plan. Involve the services of professionals while writing your business plan to have a more valid and comprehensive Business plan.

14. CONDUCT YOUR FEASIBILITY AND VIABILITY STUDY: Not all businesses are viable and feasible so conducting feasibility study will enable you minimize the risk of investing your money in an unproductive venture.
https://www.technuel.com/2018/03/28/10-things-you-must-know-before-launching-your-startup/

Bakery Consultant / Baking Bread Consultancy support.If you are interested in setting up a bakery and you want to know more about the business and how to maximize profit..
we do general bakery consult, Production Cost analysis, Production cost reduction and recipes.
Quality assured consultancy support for baking bread industry.
Complete one-stop solution For Bakery Consultants Services who need to set-up a BREAD Bakery
Assist client to develop new products
Giving advice and solution to clients who have problems in BREAD Bakery.
Supply or recommend suitable machinery and equipment to clients who need either small or big scale production.