Firstly what is business ?
Business is the selling of goods and or rendering of services with the aim of making profit. The said goods may be produced or bought from the manufacturer. A student definition
It is more like an activity of making, purchasing, or selling goods by providing services in exchange for money. Another student definition.
Four critical things to look out for in Business are;
- Within a Business Environment
- Sales of Goods and Services
- Making Profit
Operating Entity is a business set aside from the owner. It’s a seperate venture. That must have a life of its own. Business must have a life of its own. It must be bult.
It must be allowed to grow and given a space to grow. just like a little baby born, fed at tender and allowed to grow, businesses also come and grows like this.
But the mistake is, we just assume little profit has come, so we eat up, spend and live vig. Not knowing we are eating up the venture.
If you run A POULTRY or fish farm, the first few years in Business, the money earned is not your profit. Because the business is just trying to grow.
Second point is that, we must allow the venture become sustainable. It should be able to survive on its own without the founder been there.
So things like staffing, structure, systems, strategies and styles of operation are critical things we must understand in venturing to make it sustainable .
When we understand the above, we can say we are growing healthy ventures. Don’t be deceived, most ventures around you are just beautiful ventures outside within are dead.
Some , are just barely surviving. If the owner dies, the businesses dies.
Not many business around here are truly sustainable.
2. WITHIN A BUSINESS ENVIRONMENT
Every Business must be within a business Environment. Your school is an environment, your community is an environment.
An environment includes you and another person. Some will like what you do and some don’t. You goal is to introduce your idea. Depend on feedback to improve and innovate on your idea.
Today Campus Connect is an idea that has come out to the environment, it has the potential to be bigger that what it is today. It’s dependent on the environment. What people say, think or do . So also for all your other ideas.
Don’t allow any one suppress your idea. It may not work here, you can change locations or improve using their feedback to make your products or ideas better. In every environment, you will observe the need fo ideas, solutions, products and services because there are always problem and challenges in the environment. So you role is to identify the environment and determine what the ideas suit it.
3. GOODS AND SERVICES
This are tangibles and intangibles . They are your ideas that will be appreciated and bought by the community, space, environment and location.
So, i have somebody that print document and things like that , what he is doing for me is service or maybe a product . Product is idea in goods and services .
What are you offering in the environment to serve as business must be in goods and services.
Profit is in Cash and Kind . Cash to the seller and Kind to the Buyer.
Kind is the satisfaction that is receive by the buyer. And one must ensure this is achieved when a transaction is made. As this is the essence of business.
It’s what brings repeat purchase or Return Of customers or maybe referrals. So today what are the basic skills needed.
- Creative Skills
- Communication Skills
- Negotiation Skills
- Problem solving skills
- People skills