What every start up Entreprenuer must do!

It is no longer news that of recent, the probability for fresh graduates to gain white collar jobs has drastically reduced and the rate of unemployment among Nigerian youths is on the high side. Therefore, it is pertinent for Nigerian youths to go into self employment by becoming entreprenuers. Without mincing words, Starting a new business is very tedious, stressful and requires careful planning for the business to thrive. Below are some of the things every start up entreprenuer must do inorder to succeed in his/her chosen line.

  Your Business must solve a problem The success of every business is directly proportional to the extent to which it meets the needs of the people. Take your time and think about a problem. If you are able to identify a problem, then you can start thinking about proffering solutions to such problem. The solution to this problem is simply that which you produce or the services you offer.

  Set plan to execute your Business idea Every business must have a plan! You have to tailor and knit your plans for your business and what you aim to achieve together to form a business plan. Your business plan must be specific. What you aim to achieve should be measurable and your driver should be your results. You Must set time frame for execution of your plans. Remember, failing to plan implies that you are planning to fail.

  Set a Financial plan A budget is simply a write up specifying how much you intent to invest into the business. It is the financial cost of all the that you require to start up and operate the business within a specific time. You have to carry out a feasibility study to know the cost of all the machinery and raw materials required in running the business plan. This will enable you to know whether the business will be profitable, how profitable it will be and when you will break even in order to start making profit.

  Be a goal getter To make it as a start up, you must set goals and work towards achieving them. Your goals are the catalysts to achieving the vision you have for your business. Dont work in saturation. Else you will crash. Goals and objectives are the drivers of success in any business. Set daily, weekly or monthly goals and work towards achieving them. Your goals must be achieve-able within the specified time. You must be very specific about what you want to achieve and it must end up giving you results for the growth of your business.

  Your product or services must have value At start up, you must try as much as you could to ensure that that your customers gain value for their money. You should always take quality as a priority. Dont meddle with it. It is the quality of the services you offer that guarantees you of return customers and referrals. As a start up, you may not be equipped with so much money, but that should not cause you to produce low quality products or offer low grade services. If your product or services has value, then you can sell at the same price as the Big players in the ,market and make more profits