To better understand part 2 of developing your own business, part 1 is a must read. See success in your little dream of today and bigger one will spring up tomorrow. Business is not built overnight. You need to build, nurture and grow any business. Strive to develop your business. It requires painstaking efforts, commitment, time, resources, sacrifices, sleepless night, denial of self-comfort etc. Below are 10 strategies you can use to develop our own business.

1. Get the right idea

Don’t just get idea; make sure you get the idea that will solve problem(s). That will meet needs. Ideas that meet needs will attract money into your pocket.  Also ensure the idea is sustainable. Make it big. Bigger than you, so it can outlive you and get to other generations like: Coca-Cola, Facebook, Google, Microsoft, Glo, Shoprite, Brila FM, AIT, Slot etc. These are someone’s ideas. Today you and I buy their products.

 2. Get the right skill

 Just as it requires money to get the best quality, so also it requires skill to be successful at any business venture. Polish your skills daily. Attend trainings both free and paid.  Learn from other people to improve your already existing skills. Before now we call them tailor but today they are called fashion designers. They stepped up their game, by making designer’s wears that suits your taste.

3. Get your business registered and open a corporate account.

 Legalize your business identity before someone steals it from you. How? Whoever registers his/her business before you with the CAC is the authentic owner. No debate, no legal tussle. It gives your business a corporate identity and makes people transact business with you without being afraid. Moreover, the benefits are numerous, when your business is registered.

 4. Take action

 The difference between who you are and who you want to be is action. As you plan, back up your plans with action. Avoid procrastination. Many are afraid of what people will say if they should venture into their plans, dreams, and visions. Go ahead once you’re sure that God is leading you and you have some skills not necessarily all the skills before you venture into it. Note, you must not get all the skills before you start. Start and unseen forces will give you a push. The time to start is now!

 5. Find a mentor

 A mentor is someone who has almost or perfected what you are trying to start. He doesn’t need to be a perfect man or woman. Age is irrelevant. Sex (male or female) doesn’t matter. And you know what? No more barriers, No more distance. Your mentor can reside anywhere in the world. Just get connected. They abound everywhere. All you need is a mind that can discern, analyze and take steps to identify with him or her. There are many skills within you. Build a business around it. Many opportunities within and around you daily, leverage on them to develop a business that is sustainable. For sustainability of your business you must build on these 3C’s:

  • Character
  • Capacity
  • Competence

No matter the amount of money you invest in business or project without the above 3C’s it can’t last. Also you can build or develop your own business that is sustainable on these 3R’s:

i). Reputation: This has to do with dedication, commitment, honesty, reliability, trust etc

ii). Relevance: Put your talent to use, find platforms to add value to others in the process people shall see your importance and worth.

 iii). Referrals: Use the strengths of family, friends, colleague, organization, groups, forums and social media platforms.

6. Avoid impulse buying

Avoid spending on things you will not need. Get information on the items you want to buy. Don’t buy because a friend is buying. Both of you are two different individual. Differentiate between needs and wants. Needs are necessities, a must have in the home or business. Before you buy anything place them in their scale of preference. While wants are desires, luxury, flamboyancy, extravagancy, conspicuous consumption, ostentatious living, name it. Work within your budget. It will help you stay within your plan. Make sure the value of what you are getting is bigger than what you are giving out. Forget about what people will say if you don’t buy especially when you’re with your friends or colleagues. Your plans are different from theirs. Focus on your plans.

7: Use the power of partnership

The era of competition has gone and gone for good. Businesses/enterprises thrive on the altar of collaboration not competition. There is power in partnership. I’ve a lawyer friend who has been in law practice for a very long time. Last year, he went into partnership with his friend whom I know also. Before now they have been practicing differently, today they are doing exceptionally well.

Forget about your position, CEO, CMO, DG, MD and all that. It is not what drives a business. Business thrives on ideas, knowledge, experience, strategies, etc. Partner with someone today and push your business forward. Partnership is not all about bringing money. It could be expertise, connection, warehouse, transportation etc.

8. Use other people’s skill, talent and time to achieve dream

Using other people’s time, skill or talent is not in the negative. It simply means recognize that what you’re looking for someone else has it. Take away pride; it doesn’t help, in business humble self. The worst combination in this life is to be poor and proud at the same time.

9: Don’t be afraid to make mistakes

Mistakes are part of learning process. There are certain things you won’t learn until you fail in them.  I’ve failed so many times in trying to get result. But in all of them I have learnt lessons, that today those lessons are helping to strive, though still learning every day. Go ahead and start that venture now. Forget about the failures of yesterday. Start and you will succeed. Some may have lost money don’t be deterred, go ahead but ensure you learn what made you to fail the other time.

10: Make up your mind to succeed in that business

Job says, I will wait until my change comes. It takes years to develop into the kind of human being you want to be. All the celebrities and achievers of today were once learners. Be persistent and strive to succeed no matter what? Remember it’s all in the mind to succeed. Create the reality in your mind and follow through. It’s possible. Reality is a function of mentality and mentality is a result of knowledge. You shall succeed!

Keep developing your dreams, skills and talents, it shall speak and not tarry. See you at the top!

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