HOW TO OWN A BUSINESS

In this post, am going to be talking about 5 steps to a successful business.

The present world circumstance does not let anyone to fold his arms doing nothing. Even only one source of income does not proffer solution to man`s enormous needs. White collar jobs cannot do that as well.

I worked as an employee in Three different organizations within a period of seven years and there is not much to show for it. I know people who have achieved a lot and yet have not spent half that number of years.
Business is the best path towards a fulfilled life. The most successful men and women in the world all through history are entrepreneurs. It has an edge over 9-5 kind of job. It is capable of meeting your regular needs as they come unlike the monthly wage that comes once a month.

It also affords you the opportunity to harness your natural gift. Therefore it is important to know how best to start on the ladder of business for proper sustenance. Today we want to look at certain basic requirements that will help you start-up and stay in business successfully.



1. IDENTIFY THE BUSINESS TO START

There are so many needs around, but you are to solve a particular one and not all. You what it takes to solve someone`s problems right inside of you. You need to discover it.
What do you have passion for?  Chances are that what you have passion for is your core area of competence. What is it that happens around you, which you hate and wish you could change. Indeed you can.
Take some time and think back to your childhood days. There is something about you that people commended you for. You did those things naturally without stress. In fact you didn`t even know it until people began to talk about it. It is possible you observed it yourself but you did not give it a thought.
That talent can be converted into cash. Someone said money is a reward for problem solved. Present what you have to the world and you will be paid for it.
It is important you build your business in this area.

The normal business challenge that confronts every business man will surely show up. It is your passion that will sustain you. When I was growing up writing was part of my life. I would write anything that comes to my mind. Today I still enjoy writing.

2. GO FOR TRAINING
   
.    You need to learn how to find a need.
·    How to meet that need with what you have.
·    Know the strategy to attract potential customer.
The process you go through to acquire the skills is known as training.
How do you receive this training?
1. Meet successful people in that area of your interest. Look very well there are always people around you to give you the necessary training. Get a mentor. Reading is a form of training, but do you know one thing? You can receive knowledge from books but you may not receive counsel and follow-up from books. Therefore a mentor is inevitable.
2. Read wide. The benefit of reading can not be overemphasized. The knowledge someone else has acquired through a hard experience of 20yrs can be transferred to you within hours or days.

This is very possible if you can read. If you have a bad reading culture begin to work on yourself. Start with little news letters. Begin to download free e books of about 10-15 pages. Discipline yourself to read everyday.

3. BE HUMBLE

Make up your mind to start low. A humble beginning is always the best beginning. Even if you have an idea there is still a lot to learn. Great things don`t usually start in a great way. Sometimes the right environment for your success will seem to be hostile at the first time.

I don`t know how and why it is so but this is my observation. What to do is to stay until you receive all the necessary training needed to stand on your ground.  Champions do what they don`t like to get what they want.
4. CREATE A WEBSITE

This is your presence on the internet. When you have a website, your business is open to the world 24/7. In the year 2000 Nigeria had only 200,000 internet users. By December 2011 Nigeria is top on list of internet users in Africa with 45,039,711 users. You have great chances of business success on internet. You can put up one with N50,000 to start.

5. CAPITAL

A capital is an asset that is available and could be used to produce other assets. To raise a financial capital for your business you must have integrity.
Personal saving is a good option for those in a paid job. If you are an applicant family and friends could be a good source of fund. People are more confident to lend out money to someone who has a source of income than the jobless.
Money is not the only capital you need for a business. It may seem as your major need anyway. Time is a capital. Use your time to carry out research. You can create and multiply other capitals by using your time effectively.
Your experience in life is a capital. Take a moment to consider your past life experiences whether good or bad. There is something  in it for you that could be useful as you plan to step into a business.''
 Cheers!