How to start a business with a budget
The world no doubt is controlled and dominated by business be it a service business, good, and services, etc. The shift in dominance has left much thinking and everyone now wants to engage in business in
one way or the other.
The era of white-collar, high-paying jobs is over reasons been monthly earnings
most at times don’t meet up with most expenses, jobs aren’t reliable and someone can be fired. it’s on
this note that everyone who seeks a life of luxury and self-reliance must be thinking of a business.
But if having a business was that easy why does everyone not have one, but the truth is the business world is a
tough and highly competitive world, wherein businesses close down each day and new ones come up
each day, hence there are vital characteristics and rudimentary things to do and take note of before
attempting a business no matter how small or big it’s if you want the business to be profitable and
sustainable in the long run. But before talking about how to start up a business, let’s share with you
briefly the character and mindset of a business person.
- They are risk takers: if you intend to venture into a buisness then be prepared to take risk buisness
isn’t for the chicken hearted but for risk takers, men/ women who are so focused on the picture of their
future are are willing to pay the necessary price to get it even if it means risky many things. Risk here
could be fruitful and also endup in tears but in any case they both leaves a lesson to be learned which
will be effective in the future.
- They possess the possibility mind set: Negativity is one key as which is usually drawn from fear of the
unknown. Buisness people see possibilities even in the midst of challenges, they are so positive that
their thoughts helps them create the reality, and future they dreamt of. The possibility mindset shakes
of negative energies and foster actions with effective results showing forth.
- Curiosity: Every Buisness man is an innovative mind, he or she must be a creative thinker, meaning
must be able to think creatively of the way out for him buisness in very difficult conditions. He should be
able find out ways to make his business work when ever other way is failing.
- Consistent and patience. This two virtues are vital keys to every successful business person. We must
understand that buisness development is a process and each process takes time and the beginning of
everything is always the hardest, consistence in doing a particular thing, over and over even without no
results, patience to wait for the results even in the midst of failure is an extra virtue for every buisness
person. Likes of Albert Enstein, Bill gate and the rest all started and failed many times but consistency
and patience kept them moving still they hit the target and to command the influence and wealth they
enjoy. Most atimes before give up to easily even before starting while some start and end up half way
because results wherein forthcoming. If you are thinking of getting into buisness then be ready to be
consistent and patient.
Those are just some of the inexhaustible list of character buisness men possess, of which I just shared a
few, so now the question remains how do I start up a buisness.
- An Idea. Every Buisness begins with an Idea it’s either drawn from a story, a report or an experience
any of these events may give you an idea which if we’ll calculated can land you into a multi-million dollar
buisness. . Never the less your ideas must meet the following:
Address a need in your society or the world at large.
Solve a problem
Or compliment and existing service or product.
How do I mean? If you ideas doesn’t suit any of the above then it can’t become a buisness because
people pay for two things either a pain or a pleasure. Pain here talks of you solving a challenging issue
like water problem which is typical in Africa, or mental health issues which is typical for European
countries which any of this is capable of giving you money. Compliment a service or product simply
means looking at the errors of a particular product and improving on yours to out shadow them. Hence
if you have an Idea think properly and make sure it’s suitable for a buisness.
- Research;; You can never just begin a buisness because you think you have a very good idea and you
have accessed it and it’s suitable for a buisness. You need a background research on the idea to
understand the buisness sector, who your competition are, the challenges, why some of those buisness
in that sector failed etc . Having this background information helps you better strategize on how to
position your buisness for dorminance. Research also entails meeting people like buisness expert, old
hands in the sector for advice based on their experiences.
- Planning and Testing. After proper research has been done it’s time to plan on how to execute the
idea; how to reach the market, designing your product and services, location and setup , sourcing
finance and funding and much more.after which it’s time to test your claims many buisness ideas are
cliams which needs to be proven hence there’s a need to test drive your cliams about your product or
service to see if the idea is workable or scalable without which you will just be building castle in the air
only to end up in fault. This is also a period of learning, that’s to say you are observing and learning this
time away from your idea you are getting first hand information on how to improve your product or
service. Mind most often at this point the buisness operates at a lost and it’s a time for criticism and
mockery hence there’s need for resilience.
- Execution. This where many buisnesses today just start from, immediately they get an idea they just
start executing without prior steps. This is not the last phase but rather the beginning of a new phase of
constant upgrade in the buisness. Here you are implementing all the research findings, criticism, and
experiences learned to better your product or service and take over the market.
Business is all about risk-taking and minimizing loss, it’s a venture for the courageous, smart, and
resilient, and above all is a continuous process of learning, unlearning, and relearning. Whatever the
process is for you don’t quit just yet but stay focused in due time the future shall show forth.