Finance :Start your own business

 

To start a promising business is like planting a tree. You need to gather everything needed for a tree to grow (fertile land, water and sunny light, among others)

One should know in which field his/her business can be initiated. If the business already exists, what are the advantages his/her business brings in to be more competitive?
Nothing is cleverer than having an idea that solves a problem. Try to think out of the box. Ascend the common view about the surrounding environment and try to investigate and find out what are businesses opportunities present in the difference that can make difference. Next, you should develop your business plan so you can identify your revenue model, target prospects, menu of products and services and financial needs and projections.

Research has shown that people like to buy what they want not what they need. Therefore find a ‘want’ and fill it.”

Consider these:

1. Business plan with financial goals and objectives ,
2. SWOT(Strenghts,Weaknesses,Opportunities and Treats) analysis & budget
3. Marketing plan;
4. Motivation: make sure you have big enough reasons ‘WHY’ to drive the ‘HOW TO’ activities;
5. Model success: find a mentor or create or develop your own success library. There are no excuses, since you have access to the Internet there are millions of resources on every topic imaginable;
6. There are only 4 ways to grow a business,
7. Build your prospect database list. Use free info products to build trust and credibility, Offer them in exchange for their contact info, or give them away with upsell offers to encourage specific action;
8. Check with your state’s laws for business registrations, business format pros & cons, and licenses.

The most successful business owners came up with an idea, started with the little they had, faced challenges relating to competition in the field but never gave up. Try to set these elements as cornerstones of your thinking and behaving as a business minded-person.

Nizeyimana Jean Pierre

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