NUGGETS FOR BUSINESS STARTERS
NUGGET 1. WHO ARE YOU? Most times young entrepreneurs’ and business owners struggles in the establishment of business because of lack of understanding of who they are and it’s an important aspect that needs a foremost consideration before starting a business. Understanding your weakness and strength helps you to choose your business type. Business built around your have a higher tendency of success. It is important that you have a profitable business, it’s more important to be happy doing the business, growing and managing it. If your heart is not there failure is inevitable.
NUGGET 2. START UP. It is best for us to understand what start up is. Start up is down to up, small to big, little to much. When starting a business think less of those fancy offices, exorbitant cars, numerous numbers of staffs etc. Remember there is always a no capital starting point of your business ideas.
NUGGET 3. CLARITY. Always have a clear vision, mission and business objectives. Make it plain, simple and understandable. Avoid ambiguous and unrealistic vision per time.
NUGGET 4. FOCUS. No doubt there will always be opportunities except if the world seizes to exist., so the power of focus will help you to remain in business and doing a gives productivity than doing several businesses and all are poorly run. Focus brings effectiveness and productivity in business. Avoid jumping from one form of business to another if need be for expansion let it be on the original concept of business.
NUGGET 5. LEARN AND KEEP LEARNING. Business education is continues, you learn before, during and after your business might have stand. Know what you know and what you don’t know. Learn from people in business and read books that enlightens you. Choose people with intellect, knowledgeable and of like minds to always interact with especially those with mutual business goals.
NUGGET 6. NO SITAUTION IS UNCHANGEABLE; situations will arise and will always arise in business. No business plan or forecast can predict perfectly into the future of a business. So when challenges come face it, don’t panic and have it at the back of your mind that every challenge in business is conquerable provided you use the right measures.
NUGGET 7. HEALTH IS WEALTH. Stress is almost inevitable at start up. You have to learn how to manage stress. Eat god food atv the right time. Working to the point of exhaustation make you less productive. Make your business your lifestyle and not a 8am to 4pm daily routine.
NUGGET 8. YOU ARE YOUR CAPITAL. The truth is that no one is ready to invest in you as a start up business. If youi have a huge amount as your startup capital, rewrite your business plan because there is always a no capital startup of your business. Remember no one will invest in you initially but record a little success and investors will be attracted to you naturally.
NUGGET 9. IMPRESS WITH YOUR ACTION. Don’t talk the talk if you can’t walk the walk. Impress with your action and not with your conversation. Avoid futuristic excitation but be driven by your goal and walk and work towards the realization of your dreams.
NUGGET 10. When you get to the end of the road and you discover there is no way to where you are going always turn back. You can quit a business idea but don’t quit business. Know the exact time to call it quit for an idea and learn from every of your mistakes. When you fall down take time to check what led to the fall before you continue the journey.
Agunbiade olusegun caleb…….october 2010.
I have not gotten to where am going but the truth is that I am not where I use to be and am proud to be a student of the department of continuos learning….faculty of never ending improvement great citadel of success
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