In going into a business may not be easy especially when there is lack of start-up capital. Ideas flows from most individuals, there is a high business zeal/spirit.
Many, who are very desperate of starting, go as much as far to the Bank to get a loan but yet none of the Nigeria Bank will be willing and want to give any individual loan as a start-up capital. It takes so much effort to even get grant from the government.
It is depressing to be loaded with great business ideas and not able to utilize it due to no capital.
As a prospective business man/woman to be, there are some things you need to put into place before thinking of the start-up capital.
Starting a small scale Business
1. Discover the need of people (What they need).
What do you think the people need? How can you satisfy them in terms of service and goods.
If you want to go into selling products for instance, there are some goods people cannot do without. Like recharge cards, food items, water, etc.
Before you start a business, Think and search for what your customer will buy when you start.
2. Have a Full Knowledge
You cannot be an Accountant or an Engineer without going to school. Same apply in starting a business. You must meet masters in that line of business to give you the best knowledge/strategy in the propose business.
3. Be Passionate/have Determination about the Business
There must be passion and love for what you do, be determine to make the best out it. When others are failing, refuse to fail. There will definitely be challenges in the business but one thing I know, challenges are stepping stones. If you fall 7 times you rise up. You must be confident also about what you do. Don’t let people talk you down.
4. Start Small
Starting small is very important. Rome was not built in one day. You can start up with you personal savings. Getting a loan from the Bank should be the last thing in your mind, in fact Bank loan should not be thought of.
5. Time Management
You must create time for your business. You can decide that from 8am-4pm is for business. Depending on what your business desire is. There must be time management.
6. Business Plan
Any business that there is no Plan, that business is planning to fail. There must be a perfect plan for your business.
Get in touch in the comment box to get a good business plan for your business.