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How to start a business

Focus and Planning, (Part A)

One major reason why people fail or are not very successful is because they lack the ability to focus and plan. Your Oeuvre should be as a result of proper planning in bits,  focusing on well detailed steps.

Let's say you have an idea to start up a business. Outlined below are 10 compulsory steps you must focus on and plan:

1. What business do you want to start and why do you choose that particular business?

2. Rate your passion for that business, if you are doing it only because it's profitable, then that is not the business you should start when you are still struggling financially. If you start a business simply because it's very profitable and things don't go as planned, you will easily get frustrated and abandon the business thereby losing your money. 

But if beyond the fact that the business is profitable, you are passionate about the business, or you are very experienced in that line, then it's enough reason for you to start it up.

3. Exhaustively explain everything you know about the business, if you can't write, find someone who you can explain it to that will help you document everything you have said properly (I'm at your beck and call for the contract, Whatsapp: +2348180353606).
The essence of documentation is to remind you at any time you seen confused, the reasons you started the business in the first place and it guides you on how to remain focused. So proper documentation is much as important as the business.

4. What are your profit channels. Does the business inculcate other micro jobs that can enable you have multiple streams of income or is your income going to be coming from just one source? Which is not a good idea. Write down every channel you think you can be making money when you start.

5. Do you have enough capital? Have you gotten a good location for that kind of business? After paying the rent, will you make 2-3 times the money of the rent to continue the business?
If all your answers are "yes," then what are you waiting for? (Start immediately) but if all your answers are not "yes, " then sort things out first.

This Article will be updated in part b,  check next week.

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