Things you will need to know about Business (from a small business owner)
Are you ready for a business?
More often the big question has to ask ourselves is “are you sure you are ready” Well I’m a business owner me and I own an aggregator website company name Lessons4All that aims to connect businesses and individuals to find the best deal for whichever activity that they wish to learn. (something like Airbnb but in an education and enrichment sector) Many businesses may all seem glamorous and exciting on what's unknown. However, it more often contradicts the potential opportunity cost and growing Fixed cost, liability cost, and numerous amounts of the cost that we more often can’t forsee
Starting a business, its primary goal is to solve a certain problem and in return, you may be compensated. But remember always starts your business with a why, so it could really push you when you feel burn out and there will be many times like MANY TIMES you will feel it so much easier to go to work and relax after with my family and friends. A start-up/ business is an endless amount of work/ finding what's wrong and how to solve the current situation/ money cash flow on how should we spend it? how should we save it? how should we earn it? The reality is sustainability is the true goal of business as if there is no income, you can’t feed your team if there is no team, you won't be able to run this for long as when we grow older our expenses and liability will grow and we will need to pay to rent/ or housing/ family/ kids/ food/ transport and many more.
Test the water
Test, double test, triple test, and even quadruple test, Just make sure there is sufficient test in your business theory that it works and understand different opinions and strategies from the feedback that you have to learn from the testing phase to help you gain a better chance in getting that sustainability income while making that income into a snowball to grow bigger and bigger to fuel what your vision is in the company.
Money is not to your luxury
Yes, you read it right! Money is not a luxury to you until it's big enough or sufficient enough for the company to stay afloat, Originally Money was never the intention of business. Remember business was originated mainly to solve a certain problem while being compensated. Money supposes to be a fuel to help you to solve more problems and goes bigger and bigger just like a life cycle.
Jack of All Traits
A business owner must be a jack of all traits as they would need to know multiple things before being the boss that manages multiple aspects to allow the business to stay afloat. Just a brief as that its a must know is Sales, Marketing on social media, Offline marketing, Google SEO, Supplier, Client, Team morale, Management, Finance Cost, Funding and many more.
Being able to say let's do a business is always easy and sketching up a plan too. but having the depth of experience to do so is a whole new level. Business owners are often mis-looked on the mountain of things and endless working hours that may not gain any return and if you are already accepting that attitude you are one step forward ready to become a new start-up business owner.
Summary
Starting a business is easy while maintaining them is hard, more often we have yet to look deep enough or understand its respective industry deep enough. We must understand that things aren't going to be that easy that it pops or go viral, and there are many things I wish to share and cover with all aspiring entrepreneurs out there on the journey that I have and I still am having and hopefully from my stint sharing with you might learn a thing or two while avoiding the mistake that I have made and learned. So check out the next article of business journey part 2 next week!
There you have it guys, thanks for reading up till here and I would love to share with you more about parenting journey and my childhood experience as a child, so do hit a follow and clap if you like to see more related article of the parenting journey check out my recent stories here.
https://medium.com/a-parent-is-born/top-3-tips-for-parenthood-b3f6d261fe96
