Tips to starting a business

Tips to starting a business

The first step to starting a business is starting. Yes you read right. I believe you have that great business idea but the thought of starting scares you. This is totally normal and understandable, but if you must start a business, you need to be 100% ready to start.

People venture into business to make profit. However, if you want to excel in business, I would advise venturing into something you love. Running a business is not easy; it requires patience as well as sacrifice. When the journey gets tough, it is the love and passion you have for that business that will keep you going.

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It is important you know the reason why you think you need to start up a business. Why do you want to start a business? Is it money, flexibility and freedom, to solve a problem, or some other reason? Why choose that particular business? Are you experienced in that field or do you just see it as a profit making scheme.

Your answers to these questions will help you define your objectives and keep you focused. From there, you need to learn which tools, resources and strategies you can use to accelerate launching of your business.

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Looking to starting a new business, then you need to;

1 Make research about the business you plan on venturing into

2 Write a business plan

3 Assess your finances.

4 Define if you want to work alone or with a team

5 Build your team

6 Speak with a business analyst; speaking to someone who’s in same line of business is also a nice idea.

7 Determine your SWOT analysis.

( S strength, W weakness, O opportunity, T threat)

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8 Publicize your business

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