Question #1- Are you planning to start a business or already in business?
I am participating in this contest with great joy because I’m enthusiastic about business and entrepreneurship.
I have been running my business for the past 3 years and my business story can’t be complete without steemit. I run an ice cream business where I sell mostly Youghurt and ice creams of different flavors. I brought this business up on steemit and here is a link to that post. After my post on steemit I had steemians who lived around my business area which is Ghana and purchase my products and the great thing about it is that they paid in Steem. So my business was born out of the fact that the weather conditions in the northern part of Ghana are very hot and hence people will always want something chilled to cool down their systems making a ice cream and yoghurt and viable option. So I started my business in 2021 and I can now sit and watch and tell myself how proud I am. From a business I started from scratch alone I now offer employment to two salespersons and a security. This is the growth I am proud of.
Question #2- Keeping in mind that you can start your business alone or on a partnership basis, what is your idea of your business model? Describe in 200- 250 words.
Yeah considering that a business can be started alone or with partnership.
My business model I used for my business is a sole proprietorship business that is I started it alone.
I started the business alone by single-handedly financing the purchase of all resources that I needed to run the business. I also raised my capital to start up alone from part time jobs I used to ran. It came with a lot of challenges such as closing down the shop in a situation where I had to travel or I wasn’t available to run because the beginning was tough and I couldn’t afford employing a salesperson.
I also look back and realize how great it was taking that journey alone cuz I had no pressure from anyone to share profits made over the time so I was able to reinvest the profit into the business which allowed for the growth of the business. I also had the opportunity to take reasons without delays unlike how decision making is delayed in partnerships.
Question #3- Keeping in mind partnership businesses have both advantages and disadvantages, what is your idea of your business model? Describe in up to 200-250 words.
At this point I think I will opt for a partnership model with this business because. The business is capital intensive and I will like to expand my scope of products and open new branches at different towns and villages. Going for a partnership where our terms and conditions of the partnership will be put in a legal document so that all parties will sign to ensure that there will be no disputes in future.
This will make it possible for us to raise enough capital to carry out all my planned projects. So I’m looking forward to a business oriented individuals that share in my vision so we can have a partnership to grow this business.
Another advantage this will bring is effective monitoring and accountability because we will be sharing responsibilities and checking to make sure that the right things are done at all times
Question #4- You are in a business now and doing well; let's know what your plans are and what efforts you are making to expand your business for the long term. Will you do it on your own or hire professionals?
With the growth of my business and how it is moving smoothly, as i indicated earlier i will like to expand it. i plan to expand it by:
seeking for investors to invest in my business so that i can raise more capital as i indicated earlier that this business is capital intensive.
i will also intensify my advertisement by paying so that my business will be advertised on television chanels and radio stations. This will boost up my popularity amongst people and potential customers. i will do this by hiring professinals to help me achieve my goals.
Last i will use steemit together with other social media platforms to market my products.
Thank you for your audience. i will invite the following people to partake in this challenge
@samuel-simba, @ibrahim6 and @john1