“A PERFECT MINDSET IS A GOOD START TO A NEW BUSINESS”
Everyone experiences problems and obstacles in various aspects of life. The majority sees them as unavoidable, while there are a select few who see them as an opportunity in disguise. The ones who see the opportunity in the problems they encounter are who we call Entrepreneurs. Starting a business requires a lot of work and a lot of hustle. For a business to be successful, it must solve a problem, fulfil a need or offer something the market wants. Generating a business idea is a great starting point, but an idea doesn’t become a business without consumers willing to buy it.
Here are 10 things that you must know before starting a business.
1. Are You Solving a Problem or Finding a Problem for a Solution?
There are moments in life when you get the “Oh!” moment or the “Light bulb” moment. It’s when you realise that you have encountered a solution to a problem you have been facing for long or a problem that you know someone has been facing. Did you get that moment? Did it excite you to the point that you couldn’t stop thinking about it and how your solution could change the lives of many?
Wait for that “Oh!” moment, because if you haven’t got it, you have not really solved a problem that might excite you. A solution may or may not be scalable but that is not important. As long as you are excited about it and it makes you happy, there is no reason to not pursue it.
2. Are You up for the Challenge?
Starting a business is not going to be easy. The initial months and sometimes years of starting a business can be full of struggles. You will have to give it all of your attention and time. You need to be prepared to sacrifice your life as it is and dedicate it fully to the success of the company. The time you get to spend with family, friends and relatives will be cut short and the time you spend with your employees and co-founders at your office will become your life. The success of your company will be directly proportional to the time you are willing to invest in the company. You need to ask yourself if you are ready to give up the luxurious and comfortable life and hustle. Starting a business is not for the weak hearted.
3. Partners Who Share Your Vision, the Founding Team