Steps to take before you start a small business

©Femi Adefioye. All Rights Reserved http://entrepreneurship-skills.blogspot.com


Starting a small business is a wise and bold decision; the beginning task is usually the toughest step. Indeed, the journey of a thousand miles begins with a single step. But I have realized that starting keeps most people stationary. Deciding to start means you have won “half of the battle” already!

The steps are as follows:

Preparing your self for the task.

This means you have to be organized, you need to set up a planning note book to draft your plans, keep track of appointments, to do list, errands to run, research to be carried out and set up work schedule so that you won’t be distracted and finally be composed and stick to your plan.

Choose a good business name.

You need a good name that will really tell people or your potential customers what you are i.e. if you are into real estate, you can add your name with it like, john’s real estate. And don’t forget to find out if that name has already being used by another person.

Decide the kind of business you can do.

This is very important, be careful in selecting that kind of business you intended going into either rendering services or selling of products it must be that thing you know you are capable of handling.

Do some findings on the business.

You really have to do some research, spend some time with people with experience, ask questions and gather information on that particular business that you wanted to do. And these will definately guides you against odds.

Write a business plan.

Every business begins with an idea and a business plan is needed to guide the investigation and development of the idea. This is all about the description of that business you want to offer i.e. services or selling of products, about your prospective customers, the strategy to be used and how much of money that will be needed to fund the business.

Decide where you will get the money to start.

There are different ways you can get a start-up capital e.g. your personal savings, loans, borrowing from friends, from family and you can look for somebody that can invest in your idea.

Choose good location for your business.

Your choice of location is very vital to the success of your business. You must consider the location in the regards of the customers, your employees, suppliers, e.t.c Decide the option of renting or buying your business site.

Register your business (license and permit).

After all your efforts you must not forget to register your business. Some countries a general business license if your services or products are taxable.

When you have done all the above mentioned, all you need is to be focused and stick with your plan. Don't be distracted because there going to be challenges and obstacles. But be strong and combat the problems intelligently because you are prepared and nothing can stop you now!

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An Entrepreneur: who is he

©Femi Adefioye. All Rights Reserved http://entrepreneurship-skills.blogspot.com

Talking of an entrepreneur, it means we're talking about a starter, an innovative person that is ready to think "outside of the box". He is skillful person, that has a problem solving skills, and also, has that ability to take risk in a calculated way.

Who he really is:

A risk taker, who set up a business at a considerable risk, he takes the bold step in starting or venturing into a business without the fear of failure. He takes a calculated risk for him to avoid "getting his fingers burnt".

A decision maker, who is responsible for every action performed in the business which can decide the growth or the failure of the business, he takes smart decisions that can make the set goals achievable.

A leader, who posses that inner strength to succeed, he has a foresight, he sees the beyond things. He is that kind of person that "make things happen" and not watch things happen. He gives direction to the business which can decide the success of the business.

A focused person, who know what he wanted and set to achieve it. He is a determined person with goals and believes completely in his ability to achieve them. His self optimism can often been seen by others as flamboyance or arrogance but he's just too focused to spend too much time thinking about un-constructive criticism.

A composed person, who is wise and do things in order, he's a relaxed and sensitive person to avoid mistakes which can cost him the success of his business. He's not scared about challenges but faces it and tackles intelligently and smartly.

A creative person, who is resourceful, that person that posses the "skill of discovery", mental alertness, innovative and he is always looking for new ways to improve his business. He has a different way of thinking, different manner of approach towards things. His exploits will surely make achieve success with ease.

A passionate person, who loves what he's doing, he's comfortable doing what he likes and know how to do best. He's always optimistic and can never for once think of failure as an option. Running and carrying out his business activities is a pleasure form him He's going to be successful because he's doing what he loves doing!

He is an entrepreneur because he is everything that is mentioned above.
He is that person of many "success characters", filled with that drive to success in his business. And he is a wonderful person.

Notice - You are allowed to publish this article in its entirety provided that author's name, bio and website links must remain intact, active and included with every reproduction.