There is a current trend of people venturing into entrepreneurship,they now see it as an alternative to looking for white collar jobs as the present situation of most countries no longer guarantee those kinds of jobs due to the tremendous number of graduates and the low number of companies in most countries,though entrepreneurship offers some benefits such as flexible working hours,being in control of your profit,unlimited daily income e.t.c but the pride or prestige of owning your own business(more like being the CEO of a company) just keeps on driving much persons into it,in as much as entrepreneurship is good,one also have to be fully prepared with adequate knowledge before venturing into it or else that same money-promising business of yours might turn out to be a money-devouring venture,so if you have been looking for the proper way on how to start your business,then you are at the right source,because mapbiz will give you sure principles that will guide you on your entrepreneurship journey.
1.CONSIDER WHAT IS IN HIGH DEMAND
One thing is certain in business,you are going to be selling something out to the public,because that is what business is all about offering something out be it goods or services,so in other words you will need patronage,to get much patronage,you need to offer that which is in high demand by the people,because they will only buy that which they need,so many persons just go into business selling whatsoever they can lay their hands on,this is wrong as it eventually leads to low sales and definitely meagre profit which might eventually lead to the business closing up,for you to build a huge business,you must first of all offer something that the people around that locality are in high demand of,that is the only way you can make large sales on daily basis,so you should first think about that which people are in high demand of and go into it.
2.READ ABOUT YOUR CHOICE BUSINESS
This is the point where most always make grave mistakes,they fail to read,and not just reading,but rather reading about the business you intend going into,after you have been able to detect that which people are in high demand of,you should ensure you read about the business,ensure you buy books or download pdf about your soon business,as this will enable you to know more about your soon business,it will help broden your knowledge and you will end up learning new secrets about your soon business that you never knew,you might supplement this by meeting those who are into the business and try learning from them,as you will gain more knowledge and as the saying goes that knowledge is power,you will eventually end up being more powerful in your choice of business,you should also ensure you attend seminars about your choice of business,as you get to meet others who intends to venture into similar business as you,and there is nothing as making friends with people who are into same business as you are,also try to read general business books about 1 or 2 so as to get motivated and be able to have a broader view of business in general.
3.WORK UNDER YOUR CHOICE BUSINESS
This is a step very few entrepreneurs are aware of,after you must have garthered enough knowledge it is important that you work under someone who is into the business you intend going into,for most entrepreneurs,after they must have garthered enough knowledge about their choice business,they no longer see reasons to work under someone who is into same business so as to gain practical knowledge,this is the same reason why universities still send their students out into organisations or factories that do similar functions that they might have studied in school,so as for these students to gain practical knowledge,even though they might have studied in the university for years and might have learned everything about their course,yet they still send them out to factories so as to gain practical knowledge about what they have studied,so it is for you as a soon entrepreneur,even after you might have attended seminars,read hundreds of books,met business giants e.t.c,there is still a need for you to work under someone who is into same business for a few months,so that you will be able to garther practical knowledge about your soon business,one thing is certain,no matter the amount of books that you read,it can never be compared to the knowledge you will gain as a result of working in that business field,so if you intend going into fish farming it is advisable that you first work in a fish farm first to be able to understand the mechanism of fishery.
4.START SMALL
After you might have completed the above steps,and now you are ready to go into the business real time,in as much as you might have already have your complete capital it is advisable from experience that you start on a small scale at first,this is important irrespective of the knowledge you might have gained in the field,when you start small you will get to really know the business better and you will then be able to manage a more larger scale of the business,and in case you encounter loses on your first launch,the loses will not be that much since you will be starting small unlike when you had started big.note this nothing starts from the top,there is only one thing that starts from the top and that is the rain and that is why it ends up in the ground,so if you don't want your business to crash it is advisable to start in a small way.
GOOD LUCK!!!
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remember that at mapbiz our joy is to see you succeed in whatsoever you do.