South
Africa is a beautiful rich country, where opportunities are knocking at every
corner. If you have been experiencing certain discomfort at the end of each
month, sweaty palms, increased heart rate or the horrible realization that you
have spent all your income before payday arrived, then you definitely need a
second income!
Today we
will look at some of the things you need to do before you start your business.
1.
The first step is to decide that you want to do
this! Commit yourself to the idea! Where there is a will, there is a way! You will
not succeed until your mind is set right, you cannot entertain negative thoughts,
self doubts or listen to the negative voice in your head.
2.
What are you good at? What skills do you have
that someone would pay for? Decide on the type of business you want to start. Take
your time because doing what you love will make it easier to get motivated
during tough times.
3.
After deciding on a business, you need to do
extensive research on it, is there a market for your product or service? There is
nothing more disappointing than offering something that no one wants to buy or
pay for, avoid the pain by doing your homework.
4.
Draft a business plan; this should help you
answer questions like: How much capital will I need? Will I need to hire any
employees? Will I need a partner? When will
I break even? E.t.c
5.
Think about the finances, how will you pay
yourself? How will you fund your business? Are you ready to risk losing your
money? It might take time to actually raise the funds you need or pay off the
debts you have, either way it’s your decision.
There are many other things to consider before starting, these
are just the basics to get you started. Starting a business is not easy, but it
can give you a lot of satisfaction and financial freedom when you succeed, the
question is: how bad do you want that success. Good luck!
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