Entrepreneurs Guide to Starting and Running a Successful Business
Do you plan to be an entrepreneur? then here are steps you can take to start from no where and end up in an enviable position. While many people say they want to start a business but don’t have capital, there are many things more important than capital. Let’s xray all you need and the necessary steps to starting a business:
Idea to Marketing Research
Ideas they say rule the world. Business begins with an idea, not just business…every great invention, innovation, business or achievement begins with an idea. Even if you don’t have money but you have a compelling idea, you will get funding faster than someone just looking for loaned capital to start a business that is not properly defined. Don’t just get an idea, research the market for your idea to know its viability. When you are done with this, write a business plan before proceeding to the next stage
Register a Business Name/ Company
To register a business in Nigeria is not that expensive. If you don’t have the money for a Limited Liability company registration, you can start with a business name, which will only cost you an average of 25,000 Naira. If you don’t know how to coin a unique business name, consult professionals to help you do the job and present you options. Learn the difference between business name and limited liability company
Brand your Business
Create a professional presence that you can be sure to show off to the world. Starting with your logo design to your stationery design and web design create visual concepts that will inspire, inform, and captivate. A presence that is consistent no matter if they’re online or offline. It is advisable to get professional help in this area it will pay you more on the long run
Build your Digital Presence:
Get a professionally designed website that does not just look on desktop but also on mobile. Open social media handles and integrate them into the website. It is cheap and highly more effective to market online than through the traditional media. Make your website to be discoverable by search engines like Google and you are good to go.
Market your Business
It is in marketing your business that you make profit and you can boldly say you are in business. Print business cards, brochures and flyers where necessary and as much as your budget can afford. And as stated earlier, utilize digital media for your marketing campaign especially if you are working on a very slim budget
Create a proper accounting system
Don’t wait till you have money before you start planning how to manage it. Put your records straight from the onset. You should be able to know what comes in and goes, and it should be on paper. Open a bank account and also put your record books in place. When you grow to start employing staff, one of the very first staff you need is an accountant.
If you don’t want to work yourself out for the rest of your life, then build your business around a system that does not require your presence to operate. This is where staffing comes in, you also need a proper reporting system. If you can build your business around a system we can boldly say you are now an entrepreneur because entrepreneur is not just someone who starts a small business but one that can start several and make them run successfully.
May your dreams come through and may God bless all your efforts. Share your experience below and may be you can get help or your comment can inspire someone else