how to start a business as a young entrepreneur from scratch youwin
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Think of your lifestyle
I have heard a lot of people say that
entrepreneur ship is the way to go to
reduce the rate of unemployment. There
is a lot of truth in this.
The only problem now is that no one
wants to begin from scratch.
Many people who enter the youwin
Nigeria competition scheme are really
not prepared for the task of an
entrepreneur.
What kind of life do entrepreneur live?
So you want to start a business of your
own from scratch.
The lifestyle is the way of life.
Footballers have their way of life.
Musicians have their way of life.
Do you love it? Have you considered its
gains and loses? Do you know that
starting a small business is more than
just money? It is a lifestyle.
Ask those who work in a bank and you
will be told that it’s a lifestyle.
You need first understand how to live
after you have begun.
I love the life of an entrepreneur. I
believe that everyone cannot be one.
The challenges in starting a business go
beyond getting a grant. Its beyond
seeking investors.
The truth about starting a business from
scratch is that you need to live and
become something.
What you do is important but what you
become is more important.
I was talking with a female friend one
day and I told her that when I start my
business,
I would drop the kids at school and pick
them up by 2pm.
She steered at me like someone from
planet mars. I told her that I will be my
own boss. I close at a particular time and
reopen when I should. So I have begun
to prepare for the lifestyle.
Entrepreneurs face lots of challenges.
They are attacked spiritually.
Yes its true. You need to get prepared.
Don’t open shop like a normal person.
Have you got an idea
So you want investors and
grant givers to notice your
business?
Show me your business idea
Read more about creating a winning
business idea in 24 hours here.
A viable and profitable business idea will
go a long way to help you reach your
goals in life.
So how do you know which ideas to
pursue?
Follow your intuition or spirit
suggestions.
And don’t ask me what I mean by spirit
suggestion’s.
Man is a spirit.
All thoughts that come to him are
spiritually given.
In 2010, I underwent a training on
entrepreneur. After this period, I wanted
to begin a website on business plan
Nigeria . I thought about it severally. I
truly wanted It to be a hub. Something
that will help other seeking
entrepreneurs. After much deliberation,
I decided to keep it for the future.(don’t
know why I did). Fast-track to 2015, I
created this website based on youwin
Nigeria wards competition that offers
grants.
Have looked at the objective of the
youth business scheme, I decided to
begin this website. It was while in this
process that I remembered business
plan Nigeria.
All ideas come from the spirit. They
become your most dominant thought as
you think about them.
Check out my article here on business
idea.
Look for competition
Every plant that you have ever seen or
know have had to compete for nutrients
and sunlight. Competition in a business
is very healthy. It normal if you think
that competition is bad.
Our days in school were filled with a lot
of fun. We had friends who were really
our friends because they loved us.
During sporting competitions, we
competed for a prize. The same goes in
business. You already have competitors
even at an idea stage.
You want to look for a business idea that
has successful people. Go where others
are making it and where you have some
passion.
Here are some quick things that healthy
business competition would do for you
1. It will keep you focused on the
goal of the business.
2. It will help you to stay put
3. You will find more passion
4. You will make more sales (don’t
be surprised)
5. You will need them to be faster.
Can you imagine going to the
racetrack and running alone then
taking your speed time. Then next
you call on three other athletes to
run with you as a test of strength .
The difference in the time you
returned will be clear and obvious.
Do not go into any business that has
no competition. A man want to begin
a mobile toilet business, he did his
research and found a great need that
was not satisfied. The competition
were not meeting the needs of the
people.
He borrowed 60,000. Now his
business is over billions.
Competition tells us that we have a
chance.
Register the business name
Register your business name. business
name registration with the corporate
affairs commissions differ from country
to country. In Nigeria, we have the
corporate affairs commission with
headquarters in Abuja. They are the
statutory body that registers the names
of companies and startup businesses. I
will write an article on the CAC IN THE
FUTIURE. The price for the registration
of business name varies. But it should
cost you around 10,000- 20,000. Naira.
When you register the name of your
business in Nigeria, you are telling
everyone that you are ready for business
and you have open shop.
Test the service- offer it free
Have a bonus offer. Something free
which you can give out. Do not begin a
new business as a youth and expect
everyone to fall in love with it.
Have a bonus or free service first. Do you
want to be ahead of the completion?
then let people test your service.
I am not saying that this is applicable I all
cases. There are some situations where
this cannot be applied. For example , I
you are in real estate, you cannot allow
people to test your house free. What
you can do here is to reduce the price.
Give them at a discount for the first
year.
Same goes for a car seller. Discounts can
always be giving to get people to buy.
Get a website
This is a must . although not necessary
but it’s still very good. There are a lot of
web designers who will help you design
a site for your business
Choose when to start
When do you want to begin?
I will advise you start when you have the
basic things on ground. And remember
that if you received the YouWIN grant,
you need to set your office in place.
Market like a mogul
Marketing a small business you built
from scratch is good. This might mean
the difference between profit and loss. I
know a friend who started his tutorial
business. He printed over 500 flyers. He
said that he was expecting to get 24
contacts from his flyer. He ended up
getting 60 clients for his business.
Learn more on how to be competitive in
business.
Click here to get
access
Market like never before.
Let people know you have started
This is how you make sales. Don’t wait or
expect the people to come by them.
Be consistent.
Be consistent. Remember that an
enterprise is like a child that needs to be
fed to grow.
Be there. Enjoy the ups and down of the
business.
Starting a business from scratch is not
difficult be it requires a lot of patience.
So what are your thoughts about how to
start a youth enterprise business from
scratch?