1. prepare Yourself
The first step to starting a small business (SMEs) is to adequately prepare Yourself.
You can prepare Yourself by attending a seminar on the chosen line of business you wish to venture in and getting all the necessary information about your chosen industry.
You can also prepare Yourself by accepting the reality that you can fail tomorrow; you prepare Yourself by increasing your risk bearing capacity. And ultimately, you prepare your self by making up your mind to succeed despite the odds and competition.
2. Have a Good Business idea.
To successfully start a small business, you must have a good idea. In fact , any idea or business opportunity will do; except you are pioneering a new invention. I emphasized that any business opportunity will do because most youths / people focus solely on the business idea without knowing that a business idea is just a tip of an iceberg in the entrepreneurial process of building a business.
“A business idea is just another idea. But an idea backed by strong feasibility, a thorough business plan and a smart business team is no longer an idea. It’s now a solid business opportunity worth pursuing. “- Ajaero Tony Martins
A good business idea alone does not guarantee success in business; an average business idea with good business fundamentals does. The world is filled with brilliant ” million dollar ideas” but the world lack seasoned entrepreneurs.
You don’t need to crack your head to create something new; don’t bother re-inventing the wheel, just find a proven business line and learn the fundamentals. You can even decide to buy a franchise if the capital is on ground.
Please, let us continue this topic in our subsequent post.
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