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12 Best Tips For Starting A New Business by gisthabit: 6:48pm On Oct 19, 2018
A business can be seen as any calculated and coordinated set plan put together into actions by one, two or more people with sole ambition to make a profit from its proceeds.
A lot of new business owners have been puzzled with the big question of HOW? Mostly on how to start and what to have in mind and expect in starting a new business. I hope the following points will ignite confidence and render justice to your questions.

• Avoid Procrastination/Excuses
Procrastination will always be known to be the act of avoiding or postponing something and it should be avoided.
Note: “Today was called tomorrow as of yesterday and tomorrow will always be the called today when you get there.”
Know that in postponing your idea or business, you are putting everything at risk. But be consoled that being scared is normal in making a new step and you must overcome it in order to move forward to succeed and build courage.
• Location
The location of your business should come to mind when you are thinking of how to reach your market, clients or customers.
Depending on the kind of business you are offering, try as much as possible to make your business location accessible to your customers.

• Be a good Listener
Develop good listening ears to everyone ranging from your family, mentors, friends, and enemies.
Listen to everyone about your business, notice their facial expression and body language when you introduce your business to them. Even your enemies might open your eyes to big facts you never thought of about your business.
You will be totally surprised to find out how much people know about your business if you pay attention, it will help you make better choices to grow and make adjustments on your ideas.
Don’t ignore the power of advice from experts and veteran business owners. They know first-hand on what does and doesn’t work. Smart entrepreneurs learn from the mistakes other business owners have made.
• Simplicity
It’s very important to keep your business as simple as possible, in as much as you have a great picture of how you want your business to look like, it would be a clear advice to leave unnecessary contents and features out of your business.
To avoid your business idea looking too complicated and hard to understand not to mention the fact that it might be too expensive, you have to keep it simple and concise, so you don’t overemphasize things and forget the fact that it’s a small business undergoing a growth process.
• Be a Solution
This is one of the best parts of your business objective and should be highly considered first before moving forward.
Here, your business should be an answer to a problem, before you can hope to get an audience from people, for example, you will be a solution for rainy days if you are into the business of producing umbrellas.
Understanding your motives will help you create a brand and market your company. Know what problems your target customers face and how you can solve them.
• Record your Cost
When you're thinking of the cost to start a business, don’t forget about your personal budget. Look at how much money you need to live, including rent, food, gas, healthcare, etc. range these expenses in the order of priorities, from the ones you must pay to the ones you can easily forfeit if the money runs out.
Be sure to pen down your cost, and everything it will take to run your business, like your rent, cost of raw materials, cost of promotion, market and more.
The total amount of money you think will pull your business through should be multiplied by five, for example, if the total cost amounts to 5,000, be wise to budget for 25,000. By doing these you are being prepared for unforeseen or unexpected costs.
Once you have a grasp on all your expenses, start to create a business budget. At first, you might need to get some outside capital to make ends meet, like a small business loan. Go over all of your options before putting your money into the startup.
• Plan for the worst days
Yes, there are worst days, there are days where it will feel you tied down your expenses for no reason.
In fact, according to research, more than 50% of new businesses with a space of 5 years from startup wound up as a result of being unsuccessful. It’s really difficult to run a business when there is no money.
Therefore it’s advisable to find a side money grab; I mean another source of income aside from your business. That way you stay and remain in business.
Look at your current sources of income. What do you earn from your current job? How long would your savings last if you quit? What unexpected things could mess up your plan (e.g., you wreck your car or you have a pressing family problem)? Prepare yourself for all the situations that could happen if the business idea doesn’t work out. VERY IMPORTANT.
• Keep earning
A lot of new business owner’s port from their job to their new business. They always fall prey to the trap of being a boss. I will agree with you if you say it’s tempting, but you might want to keep your job while you run your new business.
You will agree with me that growing is a process and it takes time and hard work, so it will be wise to stick with your job and grow it till it's matured enough to demand your full time and responsibility then you can quit your job and put your 100% to your new business.
By so doing, you earn on a double and more importantly you stand a better chance to make better decisions in the near future.
• Acquire all the legal backing
This is where you think of getting your business registered and getting all the legal papers/backing your business requires to operate in the big/open market.
You have to follow the process of opening a business, know what the law says about new businesses, which will help you run your business better.
Know your tax liabilities and how to stay clear to have any problem with government authorities. By saying this I mean you should get the necessary papers and clearance you need for your business and update payments on intervals as at when due.
• Give your Business a Voice.
One challenge many business owners face is that they don’t know how to sell or promote their businesses. It can be intimidating to share your business with the world, especially when you’re new and growing.
You have to grow a habit of always talking about your business in front of friends and foes alike, make sure it’s always the centre of discussion that way people will know how proud and confident you are about your business and someday when you are given a big audience you can always deliver your business to the audience.
• Feed your Passion and Wisdom Equally
Passion is one of the most crucial ingredients in a successful business idea. Stay motivated enough so much that external motivation will be an added advantage, have a high spirit always, be positive about everything concerning your business, believe in yourself and believe in what you do.
But never, I repeat never let passion take over all your decisions. Passion will grow you, but wisdom will grow you in the right direction.
Conduct market research on your industry and talk to target customers to find out your business’s potential. Ask experts questions about launching a startup. Reach out to professionals that can help you with certain areas of business, such as financial advisors and lawyers.
Nevertheless, pay attention to details and use your passion and wisdom together so that you don’t make mistakes.
• Never stop learning
This is the development part, where you need to keep learning new things and never rely on your knowledge or what you know because it’s never enough. Read books about successful business owners and learn new things, ask questions, surf the internet on topics you need to improve.
¬¬¬¬¬¬¬¬
I hope this article answers your questions and helps you achieve your goals.
Note: Slow and steady should be the watchword.
DROP YOUR QUESTIONS BELOW or send me feedback on gisthabit@gmail.com. thanks

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Re: 12 Best Tips For Starting A New Business by TheOdd1sOut: 6:49pm On Oct 19, 2018
gisthabit:
A business can be any calculated and coordinated set plan put together into actions by one, two or more people with sole ambition to make a profit from its proceeds.
A lot of new business owners have been puzzled with the big question of HOW? Mostly on how to start and what to have in mind and expect in starting a new business. I hope the following points will ignite confidence and render justice to your questions.

 Avoid Procrastination/Excuses
Procrastination will always be known to be the act of avoiding or postponing something and it should be avoided.
Note: “Today was called tomorrow as of yesterday and tomorrow will always be the called today when you get there.”
Know that in postponing your idea or business, you are putting everything at risk. But be consoled that being scared is normal in making a new step and you must overcome it in order to move forward to succeed and build courage.

 Location
The location of your business should come to mind when you are thinking of how to reach your market, clients or customers.
Depending on the kind of business you are offering, try as much as possible to make your business location accessible to your customers.

 Be a good Listener
Develop good listening ears to everyone ranging from your family, mentors, friends, and enemies.
Listen to everyone about your business, notice their facial expression and body language when you introduce your business to them. Even your enemies might open your eyes to big facts you never thought of about your business.
You will be totally surprised to find out how much people know about your business if you pay attention, it will help you make better choices to grow and make adjustments on your ideas.
Don’t ignore the power of advice from experts and veteran business owners. They know first-hand on what does and doesn’t work. Smart entrepreneurs learn from the mistakes other business owners have made.
you chop the remaining 9 tips?

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