17/12/2020
SHARONAIRES GLOBAL INSTITUTE JANUARY SPECIAL 2021 BASIC CERTIFICATE COURSE ENROLL NOW. TUITION FREE. FORM N300, $1.00 SKILLS ACQUISITION PROGRAM/EMPOWERMENT. VIRTUAL & ACTUAL.
Starting a business can be an exciting idea, especially for first-time entrepreneurs or individuals who are tired of the 9 -5 job. And as the year is winding up, lots of people are considering starting a business of their next year, and that is very valid as this year has taken time to teach us why we need to have more streams of income. +2347080067397, +2348062643058, +639500126204
The thought of enjoying the freedom of not working 8-9 hours a day in an office, not reporting to a boss, and earning more can be fascinating. Still, it is not as easy as it may seem, and if you don't plan well, it can be very stressful and challenging.
Here's a list of things to consider before starting a business
1- The business idea
What type of business is it? You need to think and do some research about it thoroughly. Think of the solution you want to solve with that business idea. You can also start by asking yourself these questions.
What problem(s) do i want to solve?
Am i passionate about offering this solution?
What is it that I can do better and differently than what the other people are doing?
Will I be able to gain some market share in this niche?
2- Target Audience
Who are the people you want to offer your service? Identify who your customers are and study them. What are their interests? How will your goods and services solve their problem? All these questions have to be answered to avoid hitches when your business starts.
3- Capital
According to this article, "Capital refers to the financial resources that businesses can use to fund their operations like cash, machinery, equipment and other resources. These are the assets that allow the business to produce a product or service to sell to customers."
To be well informed of the Capital you would need to start your business, make a list of all you need to start and operate, such as assets, staff, building payments, operating costs etc. Most importantly, be sure your finances align with your business plans. You don't want to run into lots of debt during your Start-Up phase.
3- Suppliers
If your business idea involves production, you should consider identifying the potential suppliers you will need to start producing the goods you want to sell. Consider their price, location, and most importantly, their reliability.
4- Competitors
There's a lot of things to learn from them. Take time to study them, their approach to the target market. Doing that will guide you on how to run your business differently and better.
5- Marketing
No business sells without people to buy them, and one way to reach the people is via marketing. Create an effective marketing strategy for your business and choose the right marketing platform too.
6- Staff
Your staff can either make or break your business. It would help if you made adequate plans to get the right set of people on board. You could also consider outsourcing the hiring process to a tested and trusted agency.
7- Technology
We are in a digital era, and compromising technology for your business might not be the best option, whether it is office equipment or software to help you achieve efficiency. Consider sourcing for the best technological equipment and software for your business's day-to-day activities, i.e., Customer Order Management, Invoicing, Payments, Inventory Management, Accounting and Finance, amongst others.
I hope this has given you some insights on the essentials things you need to consider before starting a business. Join Us in Basic Certificate Course Enroll Now for Employment program on Skills Acquisition. Lecture start on Monday 11th January Special 2021.
Venue: Badagry Lagos Nigeria. Virtual and Actual. For all interested candidate outside the country we gonna connect online through Zoom meeting App. Form:N300.00 $1.00usd.
Tuition Free. You only pay for Graduation and Certificate.
Doctor Israel Olorunfemi Abiola Adekunle
CEO/Philanthropist
Sharonaires Global Limited.
www.sharonaires.com
[email protected]