Starting a business is not all about how confident and desirous you are, but a dispassionate study and understanding of your personal potentials and the market terrain.
Before you venture into that venture, it’s important you ask the following questions:
🔹Can I manage this business? Do I have the skills? Do I need to acquire some basic skills before setting out?
🔹Do I have the required funds? Do I need to borrow and from whom? How do I make up for my limited start-up financial capital?
🔹Do I have a suitable location? Do I have a marketing network?
🔹 How big is the existing market? How relevant is the trade?
🔹Who are my competitors? What are their weaknesseses?
🔹What strategy can enable me get a fair share of the market?
Dont forget to set aside some money for your personal up-keep during the incubation period of your business. Expenses kills start-up businesses faster than debtors.
A Business Plan can take care of these questions, so get one.