How to start your own successful business

What is Business?

Business is an establishment set up by people to generate funds. Some argue that not all businesses are meant for profit but I suggest contrary due to the going-concern concept. You generate money to reinvest into other ventures to sustain the existing successful business.

Starting A Successful Business

Start a business with an idea, this is pretty forward. You need to come out with a new idea or check from google to see if it already exists. Research about your idea to see if you can make some changes to make it unique. Doing more research about your business will help you identify many ways of beating the competition in the niche you choose. At this stage, when you are brainstorming your idea. keeps in mind either to be better than the rest or be different.

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For instance, maybe you want to start selling African made branded clothing in the market, make sure that your prices are lower and the product should be differently be designed attractively to catch customers’ attention. You should also have a website a customer can design their own shirts and buys them from the site. Keep this strategy in mind when you are comparing yourself to that of your competitors. 

When many of us want to start our own successful businesses, we think of the public space filled with new ventures. In the normal terms, entrepreneurship is heavily skewed towards one direction, towards people who started new businesses. Try to use all kinds of innovative skills to come out with a unique venture to pull the existing customers in the market. To be an entrepreneur in this current economic trend, you have to be technologically centered. Many businesses, who have failed to use technology, will eventually have challenges because competition in the modern business is dominated by technology. 

In the meantime, let us make a basic distinction among two kinds of businesses you may venture; pragmatic businesses and business of love. Pragmatic business is everywhere, they almost defined by the kind of business we think and its essence. They make their product or services with a kind degree of competence. They dominate the economy and almost 85% of businesses you see today are pragmatic businesses. 

Businesses of love produce many fairy things. There are some underpinning great regulations holding them together. In the case of this business, love means total dedication and commitment to success or excellence for a given product or service. This kind of business focuses on the long term and a guaranteed venture to invest all profits it generates. They do not joke with their employee but pays them in time when needed.

Now let’s come back to how to start a real business been it pragmatic or love business. The first thing to do when you have no money to start a business is to get a job that can help you to raise income. Ideas that work well are those that are having resources invested in. Getting the job will help you to improve your skills and get small startup capital. Don’t wait to get support before you start, push yourself there. You cannot just watch a video or read a book and say I am starting a business. 

The next to do is to get a high-income skill to exchange for money. This happens in your spare time after a day’s work. Develop your knowledge in exchange for money. You are working your day job, whatever it is that you do, then night time you develop your high-income skills. I usually advise people, to get a skill, to offer to people hence, raise money to save at the bank for the lifeblood of their business idea. For instance, let us assume you are earning $2000 from your high-income skills as you are doing in line with your normal job, it keeps increasing and you make at least $5000 a month. You can now quit your job and develop that well to build your businesses very well in order to pursue it full time. Follow the strategic steps in building a successful business.

Moreover, don’t just be attracted by the destruction of social media, it is an open place for everybody to make noise and you may not know how to filter. Whatever you want to do, do it with your entire mind and leave the social media for the noisemakers. Use it to market your business. The reason is telling you to follow the steps in building your business by avoiding social media is that, you will be confused about what to do but just focus on the steps I gave you. Rather try to read books about entrepreneurship in other to understand the dos and don’ts of entrepreneurship. 

My last advice to you entrepreneurs is to do more research about the particular business you want to start before venturing into it. Reading books will not guarantee your success but practice what you read. Fear should be your last thing to think about because business is about risk. Be hungry for success because talk is cheap than doing. Nobody cares about your incapacitation.