Starting a business requires proper planning. In doing so, some factors have to be considered.
In this Smartpreneur session with Taiwo Adepoju, he explains what potential business owners should lookout for in order to ensure they’re ready to start a business.
Adepoju has carved a niche for himself in Business Strategy Space with a demonstratable track record spanning over two decades. He is a Certified Gallup Strengths Coach, Business Strategist, and he is known as The Startup Specialist because of his significant exposure and experience in helping individuals, entrepreneurs and organizations overcome the fear of starting.
Adepoju stated that ability is not enough to start a business, adding: “that you can bake doesn’t mean you can successfully run a bakery” Understanding the business of the business is the major thing.
Here are points to help you evaluate whether or not you’re ready to start a business:
1. Clarity. Do you know your intentions? What you hope to achieve through your business and how to go about it? Consult the right people who can add to the knowledge you have about the kind of business you intend to start.
2. Learn about what you’re about delving into. Do your research.
3. Does your business proffer solution to a problem. It should align with people’s needs.
4. Be sure of the kind of innovation you’re offering when starting your business.
5. Measure your market or target. This determines the amount of funding required and best media to get through to your target.
Watch full session here
