Thursday, November 11, 2010

EmmanuelKumah: How to start a Business

Hi there, today i would be starting a new post on how to start a  business, many young individuals have the desire to be their own boss and  to earn some extra money.Unfortunately, not many know the fundamentals of starting a home based business or turning their ideas into profit. Worry no more ,in this post we would be exploring how  to start your own business and be your own boss. Hope you are ready to learn?
Before i begin , know that your most valuable asset in starting a new business is your mind. It is your ability to think, to question, to analyze and then to decide and take action that determine whether you would be successful in staring your own business. What this post would do is to give you  key ideas and exercises that will help you to make better decisions and get better results. Your job is to take action on these decisions once you have made them. And don't forget to give me a little of the money when it starts to flow,Would you do it ?

Becoming An Entreprenuer: How to start a business
Let's begin with the basics so we can climb high the ladder.Whether you are already operating a business, or you have just decided to start a new business, you must continually evaluate your current situation. Even if you are currently selling a product or service, you must recognize and accept that 80% or more of your products or services will be new or different in five years. Is that surprising!As an exercise, imagine that you were starting over today. Is there anything that you are doing that, knowing what you now know, you wouldn't get into again today? Imagine that you have no limitations of time, money, experience or resources. If you could do anything new  in your business life, what would you choose?

1: Start With Yourself
You have something within that could make you rich,begin with your own talents, your own abilities, your experience, knowledge, interest, background, education and so on. Look carefully at that skill or new set of skills that you can learn and develop,for someone to pay you money in return for that service or product- Look within your own life and work under your own feet, for your own "acres of diamonds."- you posses something deep in you that would help you start a business, you may know how to sing, write -as i do! or can do some neat gardening in your house .
If you can answer these questions you are on your way to starting  your own business- What qualities do you have that account for your greatest success in life so far? What personal skills and abilities have gotten you to where you are today? How could you apply those same skills and abilities to starting and building a new business? Hope you were able to find some answers if not all,well if you weren't take a break a coffee break and reflect on these, and let's get talking 

2. Identify a Customer Need
Many fortunes begin when an individual sees a customer need that is not being satisfied and which their current company has no interest or desire in satisfying. You may not be  working in that company but you may be a customer in that company or firm , this too is an advantage.Sometimes this idea comes as the result of customer inquiries or complaints and so if you are in a company that receives so many complaints from customers it is the best chance on capitalizing on their complains and jumping the line to start your own business either part time or full. From the complaints or what you have encounter as a customer ,decide to start a new business, sometimes on the side, to give these customers what they are asking . There is a great business opportunity staring you in the face, right where you are today. What could it be?

What Next? Is your turn
Just for laugh!
I always want to know what my readers feel after reading my post, so i welcome all comments and suggestions you may find helpful. Feel free to share this on facebook and other social networks and keep in touch as we explore the other steps. Thanks