HOW TO MAKE YOUR BUSINESS WORK.
Do you know that in a few years from now 75% of the jobs available now would be replaced by computers and digitalized? and uncertainty is the only thing that is sure so don’t just stand there do something .
The most important and valuable ability given to man is the ability to THINK. My friend, Prince Chika in his book “HOW CAN I MAKE A DIFFERENCE? Says “IN THE WORLD OF VALUE,THE MAN THROUGH A TRAINED AND BALANCED MIND GUIDES HIS ACTIONS TELLING EVEN THE EYES WHAT TO SEE, telling you something that it only takes a focused and organized mindset to seek for changes, respond to it and convert it as opportunity.
However before you begin to search and identify solutions to problems, you must ask yourself these questions
Can my mind be able carry what my eyes sees?
Am I prepared to be the leader of this team of solution providers or entrepreneur?
Do I have the initiating and staying power to be an entrepreneur or lead the team?
Can I carve a niche or special area that is better than what others have done.
WHAT INSPIRES YOU TO STARTUP A BUSINESS:
After you must thought out this above questions, ONE FINAL TIME ask yourself, Why should I go into business in the first place and what is driving me to start it? And if you find yourself in any of the below categories then you are ready to start a business or make the necessary adjustment in your existing business if you have already started
An inspiration from within
Turning an interest or hobby into a business
An opening in the market that you can take advantage of.
A business related to the what you do at work or office.
A poor packaging or service delivery can force to startup and failure of a product or service.
An overpriced product or service
To create competition
An adaptation or imitation
An advancement in technology
An invention of a product or service
WHY THIS PARTICULAR PRODUCTS OR SERVICES?
You consider if the product or service existed or had been sold ?
If yes or no, How would you introduce your products and service to make it acceptable?
How does my product and services get to my customers?
WHAT KIND OF BUSINESS VENTURE SHOULD I GO INTO
a Sole Proprietorship, Partnership, Limited liability company
What aspect of each entity appeals to me?
What are my real reasons and motivation? Are they personal, professional, or others?
Are any reasons supportable, i.e, Am I doing things for positive rather than negative reasons?
Do I want to make a lot of money? Or am I in it for the freedom aspects?
WHO Who are my potential customers?
How can I ensure customers are attached and stay attracted?
Are my customers general base or specific in nature?
Who are my competitors?
How will I complete with them: price, quality, service, location?
Are they successful?
What are their weaknesses?
Is the market over saturated?
HOW How will I promote my business and / or product/ service?
What choice of media should I use for advertising?
Should I advertise in the newspaper?
How can networking at small business organizations and chamber of commerce help me?
WHEN When should I start my business?
How will the economy affect my business
Should I work at my current job while starting the business
When will I find time for families and friends?
Is it possible to let them work with me in the business?
WHERE Where will I rent or lease an office, store, warehouse or plant?
Can I start with a home office?
How much space do I need?
What office and computer equipment do I need?
Can I work at home with no interruptions
Will I need a separate phone line? A post office box? An answering machine
Can I afford office space?
Where will I get start – up funding?
Can I obtain loan from the bank or credit union? Will the institution loan money for a start- up?
Will family and friends invest in me?
RESEARCHING AND DOCUMENTING YOUR NEEDS
Six Steps To Research Your Business
List your personal goals first
List your business goals
Compare your goals
Begin your research
Collect the data and information
Re – research
How to gather information
Conduct market studies and surveys. You can do this yourself either formally or informally to obtain feedback on your product or service and if you have the money, you can pay someone to do it for you.
Spy! That’s right, if you want to know about prices at another store or how many customers a competitors has, simply visit the store and walk around.
Attend trade shows, epos, and business fairs. These are excellent source of information and personal contacts.
Network with colleagues, friends, or associates. Everyone knows someone else who can help them with some aspect of their business. Use these friends, associates, and their knowledge to your best advantage. Some will be glad to give advice or help.
Follow the local and national news, keep abreast of friends and fads, often, newspapers and journals certain a wealth of small business news.
Talk to members of your local chambers of commerce or NGO’s that are into employment issues., Again, they will probably be open to help you along since they were once in your situation.
Use the internet to open the door to business website. The beauty of the internet is that one site often leads to another. It is an excellent source of information.
Talk to entrepreneurs who have started their own businesses for advice, information, and even encouragement. Many small business owners will gladly tell you what they went through.
Write to companies and request information on how they started out.
Buy competitors goods to compare with yours, and make notes on how they advertise.
Talk to competitors former employees if you know of any they may give you insight into how the competitors operate.
Use your own noggin and that of a business partner/investor, friend, or spouse to come up with your unique answers and information.
Listen to radio talks on business, and watch business shows on television.
Contact for business advice on +2348075358763,07063685486 or hazielconsulting@yahoo.com
Follow my twitter handle @ithinkbeyond
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