Yes, you want to start and run your own business but do you have what is required to run the business profitably? Well here are some tips and hints that would help you ascertain if your chosen line of business would be a hit or if it would flop.
What Do You Enjoy Doing?
We all have that one thing we absolutely love doing, whether it’s knitting, gardening, writing etc. It’s wiser to create a business out of something you enjoy doing. Starting any business requires time, effort and a lot of sacrifice therefore you shouldn’t waste such valuable resources on a business venture that you do not have enthusiasm for. Doing something you dislike as a business will definitely result in the failure of that business.
Turn Your Free Time Into Money Time.
If you spend majority of your free time on the Internet then you should look into an online based business like blogging or online marketing. You can also create an online catalogue of items in the same category from different online stores.
Marketing Your Hobby.
Almost any hobby can be turned into an income maker. I knew a teenage girl who loved making accessories from rubber bands. She made the cutest bracelets, ring and earrings from colourful rubber bands. Needless to say, I got a few of the rubber bracelets for myself and she earned some Naira.
Making Volunteer Work Pay.
You can volunteer for certain jobs and gain a lot of useful experience for free. While volunteering and learning, you could also begin that particular job as a side thing to make some extra money. When I was a young girl, I used to help a neighbour to make egg rolls, which she sold in her shop and while I was learning and helping her, I started making egg rolls on my own and selling them at school.
Turning Skills To Extra Cash.
Have you ever seen a bunch of dancers, gyrating right in front of a major smartphone or electronics dealer office? Now, that’s a prime example of turning skill into money. They can dance so they might as well dance for money. If you can sing, sew, paint or even cook exceptionally well then nothing is stopping you from turning that natural or honed skill into a money maker.
What If I Have No Skills Or Hobbies?
A vast majority of people have skills and/or hobbies. It’s really rare to see one individual with no hobby and no skill. For some people, they aren’t even aware that they possess certain talents or skills. You might need to do some serious self-appraisals and self-searching to discover dormant or undiscovered skills. Also note that one might lack a natural skill but will definitely be able to acquire a skill through formal or informal training. There are some hidden skills or hobbies like taking care of babies, haggling prices, planting garden flowers and vegetables etc. These can all be turned into money makers with some in-depth analysis of yourself and advice from family and friends.
So once you can identify something you are good at then you can do some research to be sure that what you are marketing has a demand within your locality.
It is never too late to learn an entirely new skill or to hone an old one that has been left dormant, and it’s not too late either for you to start your own business. As long as you have the drive, a marketable skill/hobby and a lot of research then you are well equipped to become a successful entrepreneur.
Photo credit : Africadata.com
Article Written by: Winifred Iheoma