Monday, 24 July 2017

How to start a business

1) Ideation:
          ideation is the time or point at which the business is still an idea and has not been fully developed.
Great entrepreneurs see things that no one can see; even when people think they are stupid.
Entrepreneurs find it hard to know when to stay or leave a certain idea. But what we need to know is that anytime there is a problem. Is an indication that there is a business idea in that problem all you need to do is to be able to see how to solve that problem and price it for people to pay for it? Stay attached to the problem you are trying to solve but be flexible with the solution.
      For example: if you find out that there is little efficiency in the transport business in your area you can build a more efficient system.

If your location or place lacks a certain thing or product it’s an opportunity to build a business. But we need to be sensitive enough to know when an idea is not viable and leave it.

2) How to get investors:

 there are four (4) ways any one can get investors of funding for his business.

· People will always want to associate with success and result. And they are likely to invest in a business or product that is successful or has a great potential for success. Let your product speak for itself. If it is good enough people will always invest.

· Product as mentioned above if your product is good enough people will always want to be associated with it. Let your product speak for itself. Let be so excellent that it cannot be ignored.

· Process people do not like long process. Everyone wants things as quick as possible. Let the process you use to process things be as quick and transparent as possible.

· Passion is that extra energy that keeps you going even when things get bad it is what will make you keep going when no one believes in your vision. It is one of the qualities that will make you succeed in your business.

3) How to build your team:

       always choose those that are very good at what they do when choosing your team. Choose the best at their various area of specialization.

Also choose honest people, which are hard working to be part of your team.

Never compromise on your set standards. Always create an expectation of what you intend to get from your workers. By creating an expectation for them you make them try hard to meet up to your expectation.

4) How to get customers: 

      the sole aim of any business organizatio is to get customers and a business will never grow without customers. In order to get and retain customers Always put in your best into the product. At the start of the business put the highest effort necessary in order to make your product good and attractive. Because for most rational consumers first impression matters a lot.

in order to grow your customer base identify one thing that if you worked on it will make the highest difference or will bring in the highest purchase and then work the hardest on it till you achieve it.

5) Business development:

       a business is not growing if the customer base is not growing. Always listen to your customers and know their needs then provide it for them. Instead of going straight to tell them what you have to offer.

When advertising give little information first and see if you have the attention of your audience. Then continue. Always be patient and persistent never given up until there is no hope again.

In order to grow your business. Identify a result you want to see in your business and then go after it. There are 4 things you will need to know when pursuing any result.

· Potential upside: that is to say what you will achieve from it.

· Likely hood of success: that is to say is that thing worth going after, will you succeed if you try it?

· Effort involved: Is self explanatory you also have to look at the effort involved is it too intensive.

· Strategic value: is it valuable to your business? And does it meet the aims and objectives of your business.

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