By Grace Njoki – Journalist
Opening and running a successful business depends on the plan and structures you put down from scratch to a stable state.
Many a times people fear to get disappointed by their own choice of business setup and are scared of the risks attached to the same.
Are you starting the business for money freedom or solve a problem? What are your skills and area of expertise? Do you want to promote a product or service? What do you like? Do you have capital; is it full time or part –time venture?
Having asked yourself the above questions will help decide on what kind of business you want to start ,when and where to start it and how.
Below are easy ways of starting a successful business;
Conduct market research- speak to people. Ask them what they want and how they would want it done. Read books on topics of your business to gain more skills and approaches. These will help you know what to provide and what not to.
Have a business plan- you can never run a business without a plan. Write down things you want to do in your business, how they will be done and who will do it .Having this plan will enable you plan all your business ideas in the most appropriate way.
Fund your business-you need capital to start and run your business this means you can source from family or borrow a loan from a bank to help you facilitate the start up process.
Find a location- you need to look for a location that is accessible, has good security and is convenient to you and your customers. If you are setting up a hotel you need a clean environment for you to attract customers. Security is also very important too.
Choose a business name- select a name that will promote your brand. Ensure to use a name that is not used by any other business to avoid confusion among customers. This unique name will identify you to your customers.
Register your business- follow all legal processes to make your business legal to protect your brand. Obtain licenses and permits for legal compliance which will help you run your business smoothly without federal interference.
Contact us if you are interested in proposal writing, entrepreneurial training, donor/grants proposals, business plans.
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