Beyond the Obvious in Starting a Business

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An afripreneur in a discussion asked why its difficult for many to start a business. in the follow up comments, another Afripreneur said, most don't know how to carry out proper feasibility combined with the immense challenges of

setting up a business here in Africa. That brought up conflicting issues and suggestions on what should be done..

For us to identify a business need, in most cases (because its not entirely) we should think of the business opportunity tied to such need (or even want as its based on Assumption just like a scientific guessor). When we are bold enough to spend some resources which includes our time, it will help bring what is called facts for us to see the full possibility of the business idea or the initial assumption.

The issue is that most of us tend to work on assumptions and lose a lot of resources instead of ensuring we have facts, if not even all, but the critical ones. Losing cautiously is not failure but but winning if we learn the lessons (facts) to be implemented in our next business assault.

If people are to invest in your business, they will be looking for these facts and pay no attention to assumptions. This is even higher with those just starting as the risk of succeeding is higher.

We have countless times advised the lean approach to business which makes our loses low. Another way to gather facts is to look at people already doing what you envision as a whole or partly and work for free or reduced pay to gather on ground knowledge. One advice is for us to learn to open our mouths to ask questions. My people say, "A bere ona ki sina", i.e. (He who ask for directions will never miss his way).

less is more and i hope we all get the drift.

Read 419 times Last modified on Monday, 04 May 2015 03:08
Segun Ogunlana

A social innovator, a fixer, who likes to make a difference and get things done better. His focus covers Project Management, Systemic Innovation, Product Development, Design Thinking, Business Strategy, Set-up & Development. Some call him a super manager, natural marketer and sales man. He is a Chelsea fan too.

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