Preparation is very vital in achieving any great stuff in life. How well you prepare will determine how far you go. A lot of people make the mistake of waiting for an opportunity before preparation, no you prepare and wait for opportunity. Let opportunities always meet you prepared.
Don’t allow the excitement of having this great idea that will sell well take the best of you. Having a fantastic idea is one thing, it is another to prepare well in order to succeed with it or make a success of that idea.
A lot of people make the mistake of launching out without preparation because they have the need capital and a super idea, at the end of the day make ship wreck of their business. Preparation involves that you get it right before you start. The level of your preparation determines how strong the foundation of your business will be, hence preparation sees to it that your business stands the test of time.
Here Are six (6) Ways To Prepare Before Starting Your Business.
1. Prayer.
It is important that you pray very well before starting or commencing your business. You commit the business to the One Who has power to make anything. Praying about it means you are asking God for the wisdom to make your business succeed. Wisdom demands that you make the right decisions for your business to succeed, because one wrong decision can crumble everything and you need God to give you that wisdom.
Prayer also helps you to deal with demonic forces that would want to stop you from succeeding. There are unseen forces everywhere that make all your effort unproductive. When you invite God into your business it will be success all the way.
2. Get information.
You need to be well and rightly informed about the business you are about to venture into. ‘Someone said when you are not informed you will be deformed’. To lack information or knowledge is to be in darkness.
According to J. Paul Getty: ‘‘almost without exception, there is only one way to make a great deal of money in the business world and that is in one’s own business. The man who wants to go into business himself should choose a field of which he knows and understand. Obviously he can’t know everything there is to know from the very beginning, but he should not start until he has acquired a good solid working knowledge of the business’’.
It’s advisable to seek for information about the line of business you want to do, ask questions from those in the same line of business who has gone ahead of you. Make findings, make deep research about the business. Because someone somewhere is doing well in business does not mean you too should start without learning and knowing anything about the it.
Your talents and skills will be useful in your business endeavour that’s why it is wise to do a business that can exploit your talent and skills, it makes succeeding easy.
3. Your Mindset.
Your mindset or mentality will play a huge role in your business life. Probably you are used to waking up early to beat the rush hour traffic, sticking to orders, doing routine jobs or maybe you don’t have a job and thought starting your own thing will give you a chance to earn a living and generate wealth. Well let me also remind you that from now on you will no longer be an employee or unemployed person like you used to be. This implies that this change of status will also require a change of mindset. You are used to following orders and doing routine job, the mindset of an employee different from that of an entrepreneur or an employer. They are two different positions which means they have also different mentality or way of thinking and attitude. You should change the mindset of routine activity to that of playing different roles. Employees don’t take responsibility for the failure or success of the business. If it works out fine but if it doesn’t they move on. The entrepreneur on the other hand bears it all on himself.
As a budding entrepreneur it is vital for you to get rid of every thought patterns, ideologies or attitude that can hinder you from building a successful business. Frame your mind aright because is everything.
4. Take Care Of The Legal Aspects.
One of the first steps you should take in starting your business is choosing its legal structure, said business attorney Mason Cole. According to Cole, the most common structure is a limited liability company (LLC) because of its flexibility and the protection it provides owners from personal liability.
"It will dictate the taxes, paperwork, liability of the owner(s) [and] other legal aspects, as well as whether or not the company can have employees," he said.
Additionally, you should acquire proper registration from the government to open your business.
"This means the entrepreneur will need to create the articles of incorporation, obtain an employer identification number and apply for necessary licenses, which will vary by state and industry," Cole added.
5. Build your network.
Business sometimes comes down to not what you know, but whom you know. If you don’t know many people or if you just haven’t warmed up your contacts in a while, now is the time to focus on building a solid network.
Strong connections can provide valuable business advice and provide introductions to get you more favourable financing, prices, terms and conditions from business suppliers. And lastly
6. Business plan
Preparing a business plan is like outlining an itinerary for a road trip. You'll want to have a clear, objective map that you can follow step by step while developing your business.
"A business plan is absolutely vital as it navigates your business on the road to success," said Joel Klein, "Only by setting a plan that outlines where you want to go, along with a plan of action on how you are going to get there, will a business owner know if they are heading in the right direction and how far they are from their final destination."
Your business plan should guide you throughout the start-up process, available as help for any problem that may arise. Based on advice from our expert sources, here are a few specific dos and don'ts to consider while formulating your plan. Business plan is very cardinal to your success in business.
I hope this gives you Value.
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