ENTREPRENEURSHIP: BASIC REQUIREMENTS TO KICK-START AND GROW A SMALL BUSINESS - PART 3


Continued from last week..

26.  SEE BUSINESS AS A PROCESS: business is a process and yours is no exception. Most people start their businesses and expect to get rich over night; such people don’t stay long in business. You need to spend some time in any business venture before you can start making huge sums of money in a relaxed way.

Learning entrepreneurship will benefit you a lot. The only way to learn faster is by doing it. Learning enables you to minimize risk & stress, helps to develop and sharpen your skills with the essential insights & experiences, so as to compete favorably in today and tomorrow’s business environment. 

27. FORGET ABOUT COMFORT: Maybe you have worked in big organizations before starting off your own business. We all know these organizations or businesses make provision for imprest that is used to run a department, unit, as the case may be.
In a bid to exhaust the imprest, you find out there is so much waste that becomes a habit. 

Waste of ink & paper, telephone calls, express mails, stationery and so on. If much attention is not paid to these bad habits, they can be transferred to your own business, which can kill your business overnight. Forget about comfort from the onset and get the necessary things.

28. BE DETAILED. Develop eye for detail. Little, little things can build a business. These same little, little things can as well destroy your business. Set your eyes on your financial records, the finishing aspect of your goods and services, price objections, customers’ complain, business environment, and so on. What I’m saying in essence is, you have to be thorough in all you do.

29.BE CREATIVE: As you start your business, you need to think of ways to get things done, in an efficient way (cheap, fast and better). You have to force yourself to learn new things, and find ways to bring in the bucks.

If you want to survive, you need to rise above being a cash-dependent entrepreneur to a wit-dependent entrepreneur. A wit-dependent Entrepreneur does not depend on cash to get things done. Look for the most inexpensive ways to get things done.

Do things that will make you outstanding in the market. Set standards that will be difficult for your competitors to beat. Look for creative ways of having a large share of the market.
It’s not what you do, but who you are and how you do what you do. Doing little things in a big way will always give your business a boost.

If you don’t have money to do the things you need to do, improvise – look for uncommon and cheapest ways of doing things. The most important thing is to get things done. For instance, if you do not have money for an office, start from your home or share an office space with someone. If you don’t have a PC, operate from a cybercafé.

30.GO INTO YOUR BUSINESS WITH PASSION AND ENTHUSIASM: Go after your goal with a burning passion. Be ready to go the extra mile to make things happen in your business. Passion will help you sustain the enthusiasm and energy in you to do what is required to get your business up and running.

31.BE PROFESSIONAL: customer satisfaction should be your watch word. Customers prefer identifying with businesses that are professional in their approach and have the ability to deliver what it promises; they believe quality is often associated with large businesses. This is just their perception but not in reality. Small businesses too, show professionalism, pending on the mindset of the owner.

Let everything you do have a touch of class – be classy. You don’t need huge sum to achieve this. All you need is to promise yourself that you will deliver quality goods and services, and just work at it.

Have a quality business card, your stationery should be of good quality, your letters should be well constructed, your deliveries should speak quality, your physical appearance should be neat and appealing, and your employees should look good.

When you do these things and others that are not mentioned, you will naturally attract customers. Always think excellence!

32.GET THE RIGHT EMPLOYEES AT THE RIGHT TIME: Don’t employ people because you want to help them. Employ them because you need assistance. You are not running a charity organization after all. Get people that have passion for your kind of business and are competent enough to work with you. Remember, you need a relief. Get someone or people that will understand what you are up to, in no time.

33. COMMUNICATE EFFECTIVELY WITH YOUR EMPLOYEES: as earlier stated, see your business as a project. You are the project manager. One of the major duties of a project manager is to communicate what is expected of the project to the team members on a regular basis.

Communicate your vision, mission, objectives, goals and what nots, on a regular basis, so they can always be on the same page with you. Do this within 14 days or at most 28 days interval.  Also look out for integrity and loyalty in your employees –these characters are key.

34.ENTERTAIN FEEDBACK: After your idea is activated, you will definitely get some feedback from customers and potential customers.  Commit to a process of continuous improvement on the feedback.

You can continuously improve on your business by identifying one or two actions you can take, on a daily basis, to further develop your business. Even if they’re small actions, the process will help you focus on being proactive rather than being reactive. 

35. MANAGE YOURSELF: Eat what you are supposed to eat and leave what you are not supposed to eat. Rest when you are supposed to rest. Don’t over work yourself. “The world can do without the best”- the world can do without you. Learn to rest at least once in a week -you’ll gain more insight. Even God rested. Rest can give you better insight. Also, exercise frequently.

As an entrepreneur, your brain will be on top gear most times. Find a way to relax your brain. If anything happens to you, the world will still go on. Don’t pursue money and fame at the expense of your health. “Health is wealth”.

 For me, health is more than wealth. With a little headache, nothing else will matter to you. Try as much as you can to avoid stress. It’s only the living that does business. Be alive and in good health to see your vision come to pass. The ball is in your court.

36. BE SPIRITUAL MINDED: learn to observe spiritual protocols- it helps. Prayer, meditation, giving, service, confession, love, and the like. If you can observe them, you may not need to stress yourself the way you do. They will supernaturally work for you. Acceleration is all you need as an entrepreneur.

These spiritual protocols can give you unexpected speed in life and business. Get materials on them, study and practice them to your advantage. Pray like you don’t know what to do. Nothing can take the place of prayer. It cannot be substituted.

 Seek God’s face concerning the business you are about to start – very important. It may not be God’s Will for you to start the business at that point in time or even at all. Not all ideas are God’s idea. You can discern a bad idea and save yourself some trouble in advance if only you’re spiritual.  Spiritual mindedness puts you on top of invisible situations in your business. Strive to be spiritual, except you want to remain small forever. 

37.GET A MENTOR: The power of mentors in business cannot be over emphasized. Attach yourself to people that will hold you accountable. Mentors understand the philosophies of life and business better than you. They will make you accountable. When you are accountable, you will grow fast; can do more things and get better results.

 Mentors will tell you when to dot the I’s and cross the T’s in your business. These I’s and T’s are the growth factors of your business without which your business may not survive. Aside giving you advice, your mentor can also serve as a consultant in the meantime, since you are a start-up and may not have the means to afford a consultant. Getting a mentor can save you so much trouble which you may not see from the beginning.  

THE END!


No comments

Powered by Blogger.