I know you have tons of business ideas that you’ll like to develop, but with the competition going on and the reality of technology advancement, you will need to really know how to start your business, grow it and stay relevant in your industry.
Below is my step-by-step guide on how to grow your business successfully in 2023 but before I dig in, be sure that if you do not want to do this alone, we are here to walk and work with you on this. So let’s dig in!
Step 1: Determine your business idea
Simply put ”Be clear on what business you want to do”.
I cannot emphasize this enough, but you need to define and identify a viable business idea that you want to do. The recommended advice is to do something you are passionate about and have experience in. And what you want to do is to Conduct market research to identify a gap in the market and determine if there is a demand for your product and service.
Step 2: Create a Business Plan
To make it simple ”Create a roadmap to follow”.
Everything you need to do to make your business a success should be included here. It outlines your business goals, strategies, and projections. It should state your target audience or market, marketing and sales strategies, competition, and financial projections. Your business plan if well developed can help you secure funding and guide your business decisions.
Step 3: Determine your business structure
That just means you need to determine whether you want to run it alone (sole proprietorship) or with someone or people ( partnership, LLC etc.)
N.B: I do basically recommend you find your foot first as a startup, before thinking of adding someone else, as this will give you clarity and help you find someone that will complete your business and this additional person will be a strength to your business
Step 4: Secure funding and set up your business operations
I merged this because funding and business operations go hand-in-hand. There are various ways to get funds for your business operational cost such as business locations (if need be), websites, accounting software, etc. But I do suggest that you start something while you are still working to see how far your idea can take you!
To get more insight about this, speak to our consultant here
Step 5: Lunch your Business
Well, well, well, if you have all of the above steps in place, then it’s time to tell the world what you do and walk with your goal in mind. Don’t be afraid to start and scale up, Be consistent with your sales and marketing strategy, and don’t relax just yet, Continuously monitor your business performance and adjust your strategy as needed.
You’ll be wondering why I didn’t talk about registering your business, well, I will talk about it in the last step and you’ll understand why very soon. #winks
Step 6: Register your business
I am of the opinion that registering your business should be the last thing you want to think of. This might be a contrary opinion against many people but from my experience running four (4) businesses, I will suggest you register your business after;
- you are familiar with your business system
- you know what is working for your business
- you know your business process
- among many other things
There is no crime in testing out what you think will work before registering because sometimes we are not ready enough to do business because it takes a lot of commitment, effort, and sacrifice. And renewal fee or website renewal fee will not wait till we are ready…
So I’ll advise that business registration is the last thing you should think about.
In Summary,
I know that walking this path might be overwhelming and doing business might seem a bit boring and frustrating when you do it alone.
You don’t have to do this alone, and that’s why we are here to walk this path with you.
We have been through every stage of business development and we will save you time and cost when you talk to us first before you make your next business decision.
Here is what you will get when you book a chat with us today
- We gather the necessary details from you, process them and get in touch with you.
- We research and come up with an unrivaled solution, and move to implementation.
- We don’t leave you at an early stage. We support you always to be unstoppable.
All of these and more because we aim at getting you the result over and over again!
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