Starting my own small business| what should be put into consideration before starting a business

Starting my own small business| what should be put into consideration before starting a business

As an entrepreneur, there are an entrepreneurial mind set and knowledge needs to acquire before setting up his/or her own small business or large business if they so wish.

At the present stage or present pandemic deadly COVID-19 outbreak that is rampaging virtually across the globe(world), even in the total lock down in most countries, as well as the gradual easing of lock down in some/or most countries, yet people or citizens of the affected deadly COVID-19 pandemic are faced with financial challenges, as well as a shaking economy.

This is a call for the world youths to become self-employed as independent producers rather than depending on finding wage employment.

In this post, you will get help on how to start up your own small business. It will also give you those business techniques you as an entrepreneur should possess so as to retain you customers or the public.

This post is intended to be an introduction to ethical entrepreneurship. It also makes no claim to be a complete resource material on starting a small business. One of the aim and objective of publishing this business tips; “starting my own small business | what should be put into consideration before starting a business” is aimed at installing a heightened sense of self confidence and awakening young youths to the possibility that self employment could be a viable career option.

Please note that; launching a successful business requires an awareness of one’s knowledge, skills, abilities, attitudes, vales and preferences.

This post also invites you as a new entrepreneur to consider your strengths and weakness for you to develop a clear sense. You will also be happy to perceive yourself as an actor responsible for your own life.

Here in this same post; starting my own small business | what should be put into consideration before starting a business, you will be guided through the various stages of developing a commercial idea from identifying a community need for a product or service and finally preparing a business plan.

Also at each step you will be encouraged to discover how your skills maybe utilized to cater a need in the community.

Meaning of Entrepreneurship, Sensitization and Motivation (basic concepts in business)

Who is an entrepreneur?

An entrepreneur is a person who organizes and operates a business or businesses, often takes greater than normal financial risks in order to do so.

An entrepreneur is also a person who has foresight (vision) in business, he or she is also known for their great thinking ability, endurance, confidence, patience, risks takers e.t.c, at all times or at all costs.

As an entrepreneur, you should be relentless, consistence in your business, as well as provide new products for your business and render services to your customers.

What is business?

It is possible that some people are conversant with the word business without knowing the true meaning of business.

Well, a business is an entrepreneur initiative or economic activities that employs the buying and selling of goods and services. Business according to the mac dictionary, defines business to be a person’s regular occupation, profession, or trade.

In this vain, a business is the practice of making one’s living by engaging commerce.

What business should I setup in my community that will give me customers?

Before setting up any business, please do well to make a quick market survey to what goods and services that is needed in your area or location, So as to get their attentions. This technique is also applicable to bloggers, online shops, e.t.c.

Please try not to setup a wrong business at a wrong environment; for example setting up a car dealing business in a local area where the richest person can only afford a bicycle. You see that the demand for the purchase of car in that environment is not even visible in that location, or setting up a speed boat transporting system in a place where the demand for canoes is high.

As an entrepreneur, do ensure that you always think of what should I produce that is needed in this locality or environment?

Important skills an entrepreneur should put into consideration before starting a business so as to maintain his or her customers