Business Development Lesson for Entrepreneurs

Your business has three steps:

1. The business: Your business is what you offered i.e. products or services. If you don’t know what business to do, you can start by consulting the business development experts for assistance and be honest with yourself when asking for help; don’t worry about having butterflies in your tummy or being nervous about it.

2. Environment: this does not replace what you offer; the role of the environment is to help your products or service in order to give a best description of where to locate your business it is not made to diminish it

3. Customers: In business when you come across a wrong customer you are in for trouble because you cannot afford to make a mistake. Don’t let go your products or services until you are sure of whom you are dealing with. This must be taken seriously because you are responsible for your business and must account for it. If you have a business and met with the wrong customer there will be a great conflict, it is your duty to manage the situation at hand. Don’t ever let the customer go until you are comfortable that the person is fully aware of your offerings, i.e. the type of product or the services you offered.

Any of the aforementioned does not remove the other but compliments it, and it is your responsibility to work out how the steps are harmonised and work properly. When you know what you offered, you will know what type of environment that will be suitable for your business, you should not look for elegance”, instead you should be looking for a place that can assists in making your business successful.

Starting your business:

Go into a business that you are passionate about and know that you will work hard to ensure its success, it may not be of immediate success story but at least with hard work you will achieve your vision.

It is your job to give your business to be a vision. Make sure that you already have a vision of what you want your business to become and you are ready to work towards it.

I want you to understand this because as a business developers, we at Business Women Networking Ltd make it integral part of our business to see that we raise many business women who can be successful and manage finances wisely, so that we can bridge the gap between men and women in business and contribute to the development of the economy.

By the time your business become successful and you start to make lots of money be sure to invest into acquiring assets immediately.

My Advice

Take into consideration the followings, when starting a business:

v  What business do you want to start?

v  Do you have enough information about the business?

v  Do you think you have made the right decisions?

Do you have all the necessary information available for the type of business you want to start and this is not only about asking your friends and family’s belief, because after offering or selling your products or service to family and friends you will need to make it commercially viable.

It is your duty to know what type of pricing and evaluation models can work for your business. As you take the journey into entrepreneurship, you cannot afford to miss the numbers so it is important to invest in yourself.

Skill Development

There is nothing wrong with not knowing, but you have to get the courage to ask someone to teach you, that’s why you need professional business coach. If you can’t afford it, attend business workshops and training because no one has monopoly of knowledge, so don’t be smart ask so that you can learn a lot.

I’m always attending seminars and workshop; I spend money that usually, people use to buy houses, cars and many more valuables to go for training.

If anyone deceives you that you can do it yourself, do not deceive yourself, nobody knows everything and only you know where you want to be. You owe it to yourself to invest in yourself.

After you invest in yourself, the knowledge is yours, and you will find yourself in places where you don’t feel you will ever qualify to be.

It is your responsibility to empower yourself with information that can help you develop your business. Be honest with yourself and identify what your gaps are in order to acquire them.

Investing in yourself will be what will make you stand out from the crowd. Another thing with being successful in business is you treating your employees and customers right.

You should also learn to delegate some responsibilities so that you can have time to focus on what you can as a matter of priority.

Don’t think that, you are the most important person in the business because you will lose if you become self-centred

The way you make people feel affects the extent to how they can help you achieve success, be kind to your staff, customers, clients and every stakeholder that you come a crossed but be firm and just. By being fair always they will understand you make a hard decision.

Being a woman is a hard task especially in male dominated places, but do not let anyone despise you because of your age and gender keep your cool and be honest to your customers.

Cheers and have a Happy New Year!!!