small business start ups

small business start ups
small business start ups requires a good funder

 

  1. millions of small businesses start ups every year but over 80% don’t survive to celebrate their birthdays. Yet there is a huge demand for people to invest in this sector, so bellow are some guides that may see you through as a small business start up.
  2. Capital, many small business start ups get only money to that the business surfaces but have no solid plans to see the business funded to grow and expand to better levels. So, small business starts up entrepreneurs are encouraged to look for mains of continuous funding to their small business start ups before and after establishment. Look for rich business partners, Engel investors, etc within and outside your community or even on the internet otherwise you may not survive long without a stable source of business funding.
  3. Business plan, this is your guide to help you reach where you want to go, and actually this is a big mistake to common start. You must know where you are going and how to make it there, otherwise without you are have no path and move to nowhere.
  4. Knowledge and skills, knowledge is power and without it you have no force to drive you to your final destination. I always tell people that if you want to set up a restaurant find a job in a kind of restaurant you want to start up not just a restaurant and if it means volunteering please do it because knowledge and skills are key to success.
  5. Location, where you are going set up your business is vital because that will be your market and please know it that where there is no market definitely no business. So, some research to find out whether there is demand for the service you wish to render in that particular are.
  6. Passion, don’t do things you don’t enjoy doing otherwise you may not do them welling and the business may as well not go well. Do self awareness exercise you will discover yourself and do what makes you happy and that alone is a great tool to success. You can only do where you don’t have passion provided the business is so profitable and you understand and employ better the power of delegation.

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