The Accidental businessman!
Of all the names i was called this year, i really loved this name;the accidental businessman. The truth however is this, i was the only one that called myself this name.
Why? At some point in the year, i was able to meet some needs and i got cash in exchange. This was so unexpected, but i made some good money. But my accidental business would not last a week sef. *For obvious reasons*
So, i sat down to think about this and the statistics we have against startups, business owners and Entrepreneurs in Nigeria.
Many reasons have being given for the pre mature death of business establishments in Nigeria, but something tells me businesses don't have to die before they even start to exist.
So, i write this post so that i can have a conversation with you, yes you!
So dear business owner or startup manager, you must be sincere with your idea. I believe that is the starting point. You must ask yourself questions, what need am i meeting?
What problem am i solving ?, what solution am i providing?
What process am i simplifying? are people really ready to part with cash for my offering. A lot of issues revolve around this including cost management and price fixing.
Some of these questions look easy to answer, but then on a second thought you might just realize that you are the only one that will be willing to pay for your product or idea. So be sure to ask important questions before you go all excited about your business idea!
There are a lot of issues around starting a business that a facebook post cannot exhaust. One other thing you would need is to put structures in place for growth and innovation.
A number of businesses start on a passion note. Many people all in the name of being passionate neglect the business and structure part of their organization. Don't fall into that trap. You would wake up only to realize you cannot afford your next rent or new set of materials, despite having had "many customers ".
So you need a solid financial structure, a strong structure to accommodate growth, and a structure that encourages innovation and creativity.
I would stop here today. I believe we can improve the average life expectancy of businesses in Nigeria. To achieve this BUSINESS EDUCATION IS KEY!
I love to learn and can help your start up to live far above the average life expectancy. So, lets talk!
Kindly drop your comments on how we can improve the average life expectancy of businesses in NIGERIA!