December 1, 2020, 4:23 pm
What you should know before starting any business

What you should know before starting any business
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By Admin

Published on Wednesday 26th December 2018
Last Updated Sunday 16th February 2020

Topic: What you should know before starting any business comment by Emmanuel at 26-12-2018 04:47

The path to entrepreneurship is definitely not a very smooth one, so many obstacles shall be encountered. There will be setbacks along the way but you have to hold your head up high, determined against all odd that you are bound to succeed because even in every failure, there lies lessons and opportunities to forge ahead better and stronger.

Today I will be sharing little from my experience on my path to entrepreneurship.

1. Understand what you about to get into.

Most people do think that being an entrepreneur automatically equates to money, that is not really true. As an aspiring entrepreneur, you have to understand that it is not going to be very easy at the beginning as there will be obstacles and challenges. With your head up high, you will maneuver your way and you will succeed, you must be determined against all odds.

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2. Mentoring matters

Not having someone to put me through what I was going through at the early stage of being an entrepreneur is one the problems I faced during my early days as an entrepreneur. You need mentors not because you might not get it right by doing it yourself but because it makes it easier to get your bearing right.

3. Failure is not actually failure

When you fall while walking, you need to get up, when you still fall, you need to check why and change the way you rose up. Embedded inside every failure is an opportunity that most people might not see. Failure is avenue to see another way doing something. You have to understand what you are actually going into. When I first failed, I saw an opportunity to learn and develop my capabilities despite my enthusiasm. I saw my lapses and I acted upon them.

You should know that you have not failed until you refuse to try again.

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4. Learn to accept and embrace change.

The only thing that is constant in this world is change itself. You need to move with the wave of things around you.  Do not remain stagnant in one point. I personally realized I need to learn, adapt and apply. Stop looking for answers to ready-made questions, sit down and think how to provide solutions to problems in your environments, be unique, stand out!

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5. Quality not quantity

Value matter most in whatever you do. You must make sure, what you are offering as a product or service is worth the amount your customers are paying. Do not neglect the fact that most people will prefer to pay higher for an authentic product than to pay less for a fake product. Be the best version of yourself. It is also important to note that while trying to adapt to the change around you does not necessary mean you have to forget yourself and product. Make sure, your service does not lose it value. Always work toward. Improving it.

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6. Exercise Your Intuition

In the Starting up a business you need the ability to make decisions where data is not available. Chances are the data won’t even exist if you are doing something new and disruptive. So how do you decide? Intuition is a muscle and needs to be used to further develop. Start tuning in and making intuition decisions. Intuition combined with a mentor’s advice can be very powerful. If you get it wrong, analyze your performance and be better next time. 

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7. Sitting on your previous success

Yeah, you have finally succeeded in the business, you must not sit on that success without planning on moving on to the next one. Do not let your success get into your head. In conclusion, you must know that the journey to entrepreneurship is definitely not smooth one, it is not for everyone and not for the faint hearted. It is for people who are willing to go through fire and keep pushing until they get to their destination. There are pros and cons, but trust me, the pros far outweigh the cons.

 


  

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