Let’s Talk Entrepreneurship
The 21st century is a great era; nobody wants to work for anyone hence the rise of entrepreneurship. As you know starting a business is tricky, there is so much that one has to do before fully launching your business like where to get capital, marketing and also getting a profit.
When I started my own business I needed someone to hold my hand and teach me the ABC’s of running your own business today I am not where I want to be but I definitely can see where I am going. I have prepared a few pointers for all of us to follow and hopefully they will help you start.
1. Do your research
Before you even think of joining the business world, ask yourself what you are selling, how you are different from the next person and how your service is better than your competition. Do you research and be able to understand the market you are going for. When I started out, I started a blog that I had not researched about; I just wrote three good articles and the rest I did not know what I was writing about. That killed my branding and the brand I was trying to build so I went back to the drawing board and started afresh.
2. Start Planning
Most people fail because they do not plan and as they say, failing to plan is planning to fail. For some planning takes years but for some just a few weeks but either way, plan your moves well. Do proper research and then draw out a proper plan for your business or your brand so that you do not fail.
3. What are you offering?
Some people get into business because other people got into it, they do not even try to study the market or at least plan for it. Before you get into business ask yourself what you will be selling, to whom and at what price? At this stage you must have done your research on your suppliers or manufacturers as well as production costs. These are things we overlook as a business that eventually make us fail. Study the suppliers, how to order, delivery method and costs and also study the distribution channels and see if you can afford it and who
Before selling getting excited about starting a company study your market and know which location works for them. For example Genesis foods is a luxurious food outlet located in the outlets of the CBD but next to Bradfield in Bulawayo, an expensive shopping complex because their target market is the elite and had they put their shop at Bulawayo centre they would attract teenagers and their image would be compromised. What i am saying is, as much as we may want to get cheap locations we might end up not attracting the right price, undercharging and selling low quality in order to suit the needs of the clients at hand.
5. Raising Capital.
This is the hardest part about starting a business. Where do you get money to register your company, order goods, or even to pay rentals for your shop or office? This is when you start writing proposals, business plans and even approaching individuals to buy into your vision. Most people think this is too hard and they give up, remember to start where you are and with what you have, do not be under pressure to open the biggest store when you cannot afford it. Take your time do not rush it.
This can be expensive is executed wrongly. Start with telling your friends through word of mouth, WhatsApp or even Facebook. Basically start online. Growing would mean going from online markets to the next which is posters and hand out fliers which I think have been successful if given to the right people. With time think of investing in business cards as the business grows so should you. Remember good packaging is unforgettable. If you package yourself well you will get amazing returns.
In a nutshell, business is no child’s play it takes dedication, focus and lots of hard work to make it to the top so as a leader of the new school always know that getting to the top is not hard, the hardest part is staying at the Top.