Concepts of Starting A Business 25% to @steemkindness

My Introduction

Hello Everyone on the Steem entrepreneur's platform. I'm CEO Ezekiel. That's funny xD. This is my first post here and I feel so glad. I just stumbled upon this wonderful community and got really touched when I read the post on the steemkindness charity forum. So, I planned to join everyone in donating 25% of this post's payout to @steemkindness.

_{Designed with Canva}

Businesses are never easy to open and all the money in the world without series of plans and research will get you no where when starting a business. So, since this community is all about grooming brand new entrepreneur's, I took out some time to make research and write out some few tips on becoming an entrepreneur. Hope you like it.

The Tips

Discover an Issue:

In considering to start a business, it isn't ideal to just run into one because of stories that someone you know who sells a product somewhere in the north of your country is thriving and making a lot of cash. The first questions that should get into your mind is,

What do people need in your part of the country?
What product or service is unusually expensive over here? and so on.

Every location has a problem, so the earlier you figure out these disturbing issues and find out a simple and affordable method of tackling them. It would save a lot of people the stress and they will be forced to keep patronizing you.

Make proper Research:

After figuring out what to do, you must take out some time to research on it. You could do that on the web, YouTube or talking to the right people, friends and business owners of the same kind. It's best to learn what is actually involved in the operations of the business.

The competition around. What can you do to be different?
How expensive the business will be. Can you afford it and still give prices better than that of your competitors?
The nature of customer you will be expecting. How will you present your services to them in a better way?

There are a lot more to research on when you are about to take the risk of investing your cash. These are the top notch from me.

Proper Planning:

This is the main part of the process. Planning. Very important. You need to plan, plan and plan. Figure out the necessary things you need to do and start drafting something.

Start talking to important people in the field that can guide and help you through the process.
Calculate all cost, leaving miscellaneous and try to see if you have enough funds to build up your business.
Start building a good relationship with all other sources or businesses you will be working with.
Make sure you set out huge goals you want to reach in years to come. This would be a good push when the business starts. It will help you checkmate if the business is just static or it's flourishing in the standards you dreamt of.

Location:

This is another matter that decides how well your business is going to grow. There are different types of businesses and you must understand the type of business you are going into. There can be retail, home based, mobile or factory based.

Retail: This should be set up in an area where there is high demand. You can set this up close to main roads with a small parking lot, Mall retail spaces, Airports and so on.
Mobile: this is a kind of business which involves deliveries. So it can be set anywhere close to residential areas for faster deliveries.
Factory based: this doesn't necessarily need to be in a location where there is high population because goods are supplied in large quantities and can be shipped in huge trucks to what ever whole saling point.

Raise cash

Starting a business may be very expensive and sometimes personal savings may not just be enough to do the job. In such cases, there are loads of options to fall back on. Like bank loans, pitching your idea to attract investors into your business and even from close family and friends. It may be difficult to go through this process but if you believe so much in your idea and trust it to go through then feel free to try any of the options.

Advertisement:

Once the business operations are 70% complete, it is good to employ a good means to help you in substantial advertisements. Since this age is the internet age, you can do this with huge influencers on social medias; the traditional flyers and posters, street bills and so on. You must keep the vibe booming before the business starts. This may help you build a large customer base on start of the business.

Okay, I think that's all from me for now. Hope this helps someone that is interested in starting up something and like I said I'm giving 25% of the pay out to @steemkindness

CC: @steempreneurship
@steemkindness
@tucsond
@subkiusman