Starting a Business – Akan Imoh

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Starting a Business – Let’s face it, many great business ideas will die because of lack of money to finance them. Just leave all those Public Speakers who say that money isn’t the first thing you need to start a business. They need good beating. Lolz.

But. Let’s leave sentiments aside. In a little tiny weeny way, they are correct. And yes, the first thing you need isn’t money. The first thing you need isnt even an idea. Nope. Lemme quickly show you how to start up a business.

First, you need a problem. You need a demand.any people start from the idea stage, and then realize that that idea is not solving any problem. There’s no demand for their idea. So, first look for a problem. A problem that your heart is drawn to, one that you are passionate about. For example, one woman I so much respcet runs a company called @FruitieWorld (check them on Instagram). The problem Foluke Adedokun set out to solve is to provide healthy snacks at parties. She realized that many junks were eaten at parties, but, some people actually wanted healthy stuff, so, she beautifully packages fruit and takes to major events. Bam. A problem is being solved.

After that, you need to brainstorm on how to solve the problem. At this stage, you need to be very creative. This is the point where you need to understand how to create a model for your business. Listen, there are thousands of business model. The world has moved from the stage of ‘buying and selling’ as the only business model available. Lemme explain more. Take a look at Jumia, their business is modelwdy after the normal market. They don’t have any product, they just create a platform for people to buy and sell. Then, they publicize the platform. Take a look at Andela. Their business is modeled after the Oga and apprentice style, where a person goes to learn a trade, after a while, the person does freedom and can go launch his own. But, they tweaked it a bit. At Andela, they will pay you to learn Coding. After that, you begin to work for them. They have a relationship with the biggest tech firms in the world where they deploy their students to go and work.

You see how important your business model is. So many businesses crash at this point. Not because they have a bad idea, but, just simply because, they don’t have a workable business model.


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