10 Principles in Starting a Business

10 Principles in Starting a Business

Psalm 37:23-24 (NIV)
The LORD makes firm the steps of the one who delights in him; though he may stumble, he will not fall, for the LORD upholds him with his hand.

In starting a business here are the principles you need to know so that possible mistakes and financial losses can be avoided.

https://wealthmagnate.com/10-principles-entrepreneurs/
  1. Find something you’re passionate about
      • You need to know yourself, your God’s given talent, and you’re passionate about it. Ask yourself, what is your core gift? are you best at? remember these questions.
  2. Get experience first in the business
      • You need to expose yourself first in the business if your a technician or mechanic try to work first in a company that will help you grow your knowledge and skills and learn the flow of the business. basically, this is your training ground before going up to start your own. you must learn all the processes so that you can avoid mistakes and losses.
  3. Much better to start small
      • Mistakes are inevitable that’s why starting small is the best idea, learning from it is ok but losing money can be tough for starting. focus on small clients first. perfect your system and aim for bigger clients later.
  4. Always Dream Big in your Business
      • Always think big for your business, the dream of expanding it beyond your city, imagine people from different parts of the country looking for your products or services, and wanting to do business with you. Learn to duplicate yourself so that you can serve more people.
  5. Look for people who can mentor you
      • Remember to follow people who already been there and had success on the same field of yours. People around you who are doing the business for more than 10-20 years. Learn from them and pick their brains. Copy there best practices and great ideas, in doing so you will save a lot of money.
  6. Always eager to learn new skills especially running a business
      • Learning new things may unlock your hidden gem potentials. One of it is running the business itself, remember working for the company and running it is very different, you will consider a lot of aspects in the business especially the people you will work in.
  7. Learn the art ok Sale Marketing
      • Marketing is the lifeblood of any business. Without marketing, you will not get any customers, and no customers mean no sales, no sales mean no money at all. The owner itself must learn the art of selling. Marketing composes of 80% of the business. even if you have the best product in town if people don’t know it your business will fail. The internet is a powerful marketing tool that you can use to promote your product or services. there’s a lot of seminars and training on how to do that.
  8. Find and focus in your own strength
      • At first, you will be all-around in your business, from sales to administrative down janitorial services. As your business grows, you will need to leverage yourself for you to focus only on what you can do best.  outsources or delegate the rest.
  9. Hire people who are better than yourself
      • Hire people whoa re best in there field and always look for people better than you. it will help you grow much faster and will bring the out in you.
  10. Become a relationship expert
      • Really business is all about relationship. building it with people around you is the key to success you are looking for.also relationship to your customers, with you suppliers and business partner.  At the end of the day without good business relationship, your business will surely short-lived.

One comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.