Starting a Business..? You Need These More Than You Need Money.

I have found out over the years, from my study of the successful entrepreneurs across the globe that it was not a big initial investment that led to success. The ingredients for business success were found elsewhere. I have seen people started businesses with very little money, and they succeed.
By my own understanding, starting a successful business comes down to a handful of things. Some of them are;

NEED & WANT
With each business I have found success with, the owners started with one simple question: what do people need? Or better put; what do I want?

If you look at any business out there that works, large or small, they are all doing the same thing. They are taking care of something that someone wants.
If I find myself looking for something and not finding it, that means I want this thing but, for some reason, it is not easily available to me. If there is something I want enough that I’d be willing to pay for it – even a little bit – but it is not something I can get right now, that means there is a business waiting to happen.
For example, if your job does not give you much of time, and you are in need of someone to come to your door, pick up your bag of laundry, wash and fold it, then return it to you, you are probably not alone. Why not start this business?
Think about items and services you would like to have but don’t. That’s the start of any business.

TIME
More than money, the biggest investment that a person can make in their side business is time. If you want to succeed, expect to put in a lot of hours early on with very little return on your money. Never think of money at first.

Many people simply are not willing to commit a lot of time and effort without much return. For some people, they have to be passionate about what they are doing beyond merely running a business.
There is no way you will start a business without spending a lot of hours at doing something without making a lot of money. You need to do things like creating content, networking with others, promoting your business, learning a new skill, learning about a particular business skill. These things won’t earn you much money at all. So if you are not in to spend time without an immediate financial return, then starting a business probably is not for you.

RE-EVALUATION
No matter how good your idea or how much effort you put in, sometimes things just don’t work. You don’t have customers. You write, you don’t have readers. You sell, customers don’t pay. You run into debts…..

If I were you, I would step back and look critically at what is happening. What is wrong with the situation? Can those things that are wrong be fixed? Can they be incorporated into my plans of what comes next?
Sometimes, the best solution is to try again. Sometimes, the best solution is to walk away and try something new. Sometimes, the best solution is to keep plugging away.
In each of those cases, re-evaluating the situation for problems and solutions is key. You have to step back regularly and ask yourself what is happening, what is going wrong, and whether the wrongs can be fixed. Even a times, when things are going on right, you are making sale, your book is well read, profits are coming in; you still need to re-evaluate, you need to stop and ask what is happening?

Many businesses today do not need money. They need an idea, they need time, and they need the willingness to re-evaluate. If you bring those things to the table over and over again, you can start something of your very own, whether it is just a small business to bring in a few naira or the birth of a big enterprise.