Getting off on the right track is important when founding one’s own business. Small businesses, like any enterprise need careful consideration to build. The concept might make sense, one’s qualifications might meet, but owning a business involves many new aspects of operational awareness that many think they can deal with, however, if it was easy then everyone would be successful.
Most startups are micro-enterprises and perhaps a one man show because they are very small, maybe private limited, and therefore entrepreneurs must maximize focus and concentration levels, seek immediate results after getting the wheels rolling and funding the business venture, or otherwise potentially face failure. No income early on and bills begin to mount up and often owners are in the red after just a few months which means if they don’t have plenty of savings they could fail early on. To avoid too much risk careful consideration to diverse scenarios must be tackled from the beginning. Planning and strategic analysis then is the way to go.
My modern marketing series talks about the significance of revenue generation early into the development of any business that doesn’t have investment capital. It also expresses the prominence that marketing techniques have to win new business. May I suggest reading the series of blogs to accompany the current series.
An example of a successful small business would be getting up in the morning, organizing the day ahead, and enacting towards goals that contribute to the final result. In this case, selling fruit and vegetables is the process of purchasing fresh stock, collecting it or having it delivered in order to sell it. The whole process involves a system that works. Apart from the process, a strategic method of selling like having a sales point to facilitate customers has to be established.
The key then is making the enterprise function effectively, and showing a profit from all endeavors. Over the course of the next few weeks, first hand experiences will be shared so you can make your informed decisions, if and when a startup business is contemplated.
Good luck!
Prof, Carl Boniface
P.S. Want to polish your English language then the softcover book Deeds-2-Improve is a great way to practice on your own, learn new vocabulary, and build self-esteem to increased productivity. Currently available in Brazil.
Vocabulary builder:
Entrepreneurs (n) businesspersons, tycoons, magnates, industrialists, financiers, capitalists, moguls
Endeavors (n) = activities, actions, events, deeds, accomplishments
Contemplated (v) = anticipated, expected, planned, considered, intended