Start a Business

How to Start a Business and Succeed In 2018

The high level of unemployment in the country and even the globe is no longer news. There are few jobs around. This means that a lot of people have to find a way for themselves if they are to survive. This is where starting a business comes calling.

Business, however, fails every day, but other businesses also grow daily. What is the secret? The secret is what you should discover for yourselves in this article. They will help you run a successful business.

Start a Business and Succeed

 

  • Identity a need

In a previous article titled the four places money hides, we mentioned this but as simple as it sounds, most people miss it. Do not start a business because there is nothing else to do. Start because you have what people need or even want. You cannot sell what people do not need or want unless you plan to dupe them. If you have a skill or a talent, ask yourself how that can be made into what people need or want. Find a way to provide what is needed or wanted in your area of attention. For example, if you find that people need meat and egg, you can start a poultry or sell poultry products from an established poultry.

Read:10 Things you can do to make more money daily

  • Start with the little you have

If you are waiting for when you will have all the capital to start the big business you dreamed about, you may wait very long. Most people complain that they do not have the capital to start the kind of business that they want. Well, research has proved that most business which starts with the complete capital, without the experience base to manage the capital will crash like a glass thrown on the floor. If you have a business plan that requires Huge capital, start small ( maybe in a related field), then build the capital base for the big business. By then you would have gotten good experience to help you manage a bigger business. If you are waiting for all the cash to start big, you will not start. Worse, if you do start, you are likely to fail.

Read: HOW TO START A SMALL SCALE BUSINESS WITHOUT CAPITAL

Start a Business and Succeed

  • Be Hardworking

This is not news. As much as most people try to avoid it, the truth is that you must work hard, especially at the early stage of your business. You might be tempted to quit, but please hold on. Hard work is part of the success of the business. You will reap the fruit later.

Read: Top 20 Lucrative Less Capital Intensive Profitable Businesses In Nigeria

  • Learn and Grow everyday

Even if your business is born out of your new invention, there is still something that you can learn from existing business. In this information age, take advantage of free information from the web in the area of your business to improve your business. If you run a poultry, find the best feed at the most affordable price for your birds. If you have a rabbit farm, find out the best food, best care and all that you can to make your rabbits the best at the cheapest cost. Even if your business is a very popular one, look for a way that you can minimize cost while still providing quality goods or service.

Start a Business

  • Treat your customers well

This is something almost everyone knows, but just a few practice it. If you are having a bad day, keep it to yourself and keep your customers out of it. Make sure every customer leaves your business point happy. Treat customers like royalty and they will never forget you. Customers are the best advertising agents. They will tell their friends, family, and anyone else about your business. You might think that some customers cannot be satisfied. True. However, continue to do your best to customer service.

Read: 9 Ways to show your customers you care

  • Ask For Feedback

One of the best ways to track your progress in business is to ask customers for feedback. From the feedback you get, you can make a decision on what to improve. What to reduce, and other decisions as they affect the growth of your business.

Read: How to structure your startup as the company grows

These steps will aid you and keep your business running as you grow to be the best you can. Good luck.

Thank you for reading How to Start a Business and Succeed In 2018, please do share this post with your friends and don’t forget to follow us on social media for regular updates.

Check: Common Mistakes to Avoid as an Entrepreneur

LEAVE A REPLY

Please enter your comment!
Please enter your name here

CommentLuv badge