Tuesday, June 29, 2010

WHY AND HOW YOU MUST START YOUR OWN BUSINESS IN NIGERIA

You want to start your business? If yes, then do you think you can be a successful business owner? Yes you can, as I know this for sure. But why MUST you start your own business? The reason why you must start your own business is also the reason why most people don't start any business venture. If you know why you should start your own business, then how to start will be easy. Every one of us cannot work for someone but every one of us can own a second source of income. The secret of the rich and wealthy is based on several streams of income. While the poor work for money, the rich uses their money to work for them. Now let me explain this: If you work in a company and keep working for your monthly pay cheque, you are working for money since you work to earn it. Now if you run your own business, you are using your money to work for you. This is because you can employ others to work for you and you pay them for carrying out their duties for you. The simple reasons why you need to start your own business is to have financial freedom, work at any time you want to, be in control of your passion, ideas or expertise, and make much more than you earn monthly. The biggest is to be fulfilled in your vision. It will remove you from the craze for 8am to 6pm job syndrome. It will give you the time to be with your family and meet your family's financial and moral obligations and responsibilities too. You see, no body plans your future for you more than yourself. Your action of today determines your success for tomorrow and the success of your entire family and so you must take the bull by the horn today. So even if you are gainfully and successfully employed, still put it at the back of your mind that you also need a second income. As I consult daily, I have seen managers and other group of people who were sitting on the comfort zone with great job portfolio got into financial crisis due to the bank and other financial institution's recapitalization policy (for example) which affected their banks. Most had the opportunity of establishing a second or third income but never did. Today, they are without employment and without a business to fall back to. One of them actually came to me and explained how he had gone through crisis since the unexpected folding of the bank he had worked with. He was a manager with computers and Internet in his office but he never felt that he should know how to use them to his advantage. Today, for desperation, he had to learn it paying large chunk and not thoroughly as it was supposed to be since he was desperate

What kind of business do I start: The kind of business you can start need to come within you? It's not just enough to start a business because you saw Mr. Jones making it big in that business. You must ask yourself if the business you want to start is viable, close to your passion, expertise, hobby or mistakes before you start

Do I run my business from home or I need an office: You must decide on your own if you need an office or not. If the business does not require you owning an office, then you will have to decide if you want to run it from home
How much do I need to start a particular business: Deciding or Knowing how much you need to start a business is important as it will enable you evaluate and price your business most especially if you need a financier
What are my country's laws as it relates to my proposed business: You must check and cross check what laws relate to your business if it requires any special permit to start or not. Don't go against the law

What is my vision in this business and what impact will it have in the society as a whole: You must state clearly what your business vision is and what impact it will have on the society as a whole. You must run a company that is environmentally and socially responsible

Who can I consult for advice to start this business: If you have to start a business, then one of the easiest ways is to climb the shoulders of those who have been there! This will ease you from making costly mistakes
Who are the people already running this same business: Knowing those who are already running a business you want to start and understudying them will give you a good advantage? Visit them, price their items, know what makes them tick and what makes them weak, and see what you can improve on from their services

What unique thing do I need to do in order to be different from people already running this business? Implement that unique thing and have customers coming
Who is my role model and how does he run his business: This is important. You must have a role model if you have to succeed. Identify and give due respect and honor to who is due, who have been there and you will get there in no time. Stand on their shoulder and this is leverage


I have listed 160 tested and proven home businesses you can do in Nigeria where you can apply this proven techniques for yourself
Visit
www.business-home-page. com/homebiz
OR
www.tinyurl.com/160business. for more details

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