UNDERSTANDING BASIC ACTS THAT SUSTAINS BUSINESS

Hello steemians hope you all are making your various communities proud, am happy to see you here in my corner and I hope to make a little impact with my little knowledge. But before I start I want to thank @steemeducation for there nice work in this platform you guys really rock, I want to also thank @surpassinggoogle for his mentorship and huge impact he has made to this platform, more grace to your life bro. Now back to the main business of the day am going to give a little lecture on:

*UNDERSTANDING BASIC ACTS THAT SUSTAINS BUSINESS*
What's a business?

An organization or economic system where goods and services are exchanged for one another or for money._

Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit.
source
Businesses can be privately owned, not-for-profit or state-owned. An example of a corporate business is PepsiCo, Glo, while a Sara's catering business is a private enterprise.
Let's quickly look at some very basic elements that can sustain a business when put in proper perspective_
#1

*PLANNING*

As a startup or small scale business, never be remembered on planning your business from A to Z, be deliberate about it, you should have a time to resume and time to close, time to time to restock, where you buy your products from, quality level, how you want your business to be described, how to treat your customers, how you want to retain and win more customers and lots more, just put many of these things into black and white writing and always make sure you observe them critically.
#2

*DISCIPLINE*

You want to grow in business and become a big entrepreneur while starting as a small scale enterprise, you must be discipline to what you have signed up for, do the right thing at the right time the right way, in order to grow your business and create good impression for your brand to those who you have daily, weekly and monthly interactions with, and ultimately create value so that you can make profit.
#3

*SHOW UP*

In your journey to success as a start-up or small scale enterprise, you must show up at every opportunities that opens up around you, and one of the main habits you must cultivate, is to take bold steps towards being successful by confronting the moment with full courage and determination, you must be consistent.
#4

*BE OPEN-MINDED*

Listen to this, for everywhere l have been privilege to speak and every one on one consultations, one truth l have always told those in business big or small is the power of two or more individuals robbing minds together, fact is it yields results. Entrepreneurs, its time you stop living and doing business on your your wisdom alone, their is power in corporate mindset, check leading and successful businesses, they have more than one persons making decisions for them... Get exposure and think through.
#5

*BLUEPRINT*

As a startup or small scale enterprise. Most likely you will be using your own funds or money borrowed from family and friends to launch your business. Unless you are looking for grants, venture capital or angel investors, you probably won’t need an in-depth business plan to get going, but you will need a "business blueprint." This will serve as a personal guide to navigating the road ahead. Here’s what I suggest you include in your business blueprint:

i) A clear description of what the business does and who it serves.
ii) A description of how the business will run on a day-to-day basis.
iii) A list of your responsibilities.
iv) A list of what you will do and what other people will do.
v) An estimate of what it will cost to run the business for the first year.
vi) An estimate of how you will cover these first-year expenses, either through sales or from some other source.
#6

*DEVELOP SALES SKILLS*

Its quite funny but the truth is no matter how skillful you are in your trade, your ability to sell remains the ultimate factor to determining how successful you are in that which you are hundred percent skilled at, my advice to you is simple, develop good selling qualities and see your business grow on an impressive lane, let your mouth, appearance and body Language do the talking. Sometimes ago, Amb. Israel has to adopt the style of starching and ironing his clothes such that people attention will be drawn to him simply because he was into sales of starch. Makeup artist are good at making themselves up so that someone will ask them where they did their makeup. Fashion designers and hairstylist are encouraged to develop the skill of sales. the best sales techniques is to know a lot about what you sell
#7

*AVOID COPYCATING (BE UNIQUE)*

Startups, startups, startups, please enough of copy and paste business all over the place, do you have to go into business all because you heard that their is profit in it, and even if you have to do, please be innovative about it, add a flavour to it, make yours unique, this will give you an edge over others
While we move on, I want business people to answer this question

1. what is your business name?
2. where do you operate from?
3. What industry/segment ?
4. what services do you render
5. How many people are in your organization presently?
6. Lets assuming that you are given $5,000 today, to add to the capital of your business what specific things will you do with the money?

*Please attempt this question with all sense of responsibility and make business sense because you may be advertising yourself for possible partnership or patronage*
#8

*INVIRONMENT(MINDSET)*

Mindset is one big determinant of how much success you will record in business, if you think your business won't do fine, believe me it won't and if you believe your business would do fine and grow, l can tell you it would. The simple result is that the environment is designed to attract whatever you think, so if you want to fly, believe you can and see how opportunities will open by default. Reset your mindset
image source
#9

*NETWORK*

It’s essential to join professional organizations in your field or organizations that support entrepreneurs and start-ups through networking and educational programs. And don’t forget to attend conferences and seminars. Since there are dozens of choices, this can be overwhelming, so I advise you to choose wisely. Shop around and then join two or three organizations that are the best fit for you. And attend conferences with informative speakers and workshops where you can network and meet people to help you on your entrepreneurial journey and whom you can help in return... Open your eyes
#10

*PRODUCT NAME*

If you check round the whole world and even in our country, you will see that names of companies and products that are easy to relate with are the once making headway in the market eg, Facebook, Google, Dangote, Cowbell, Glo, Smile, Techno. This is to tell you that the name of your company must be easy to pronounce by both the illiterate and the educated, make no mistake making your company name a long one and too Indigenous like okokobioko 😁, please wake up now and start thinking through.

I love the names Tabby, Saras, Crop2Cash, Dolea, Frootculture etc...
#11

*OFFER VALUE FOR TIME AND MONEY*

If your sole aim is to make money as a "startup" you will eventually "pack up", that it why you will always see lots of businesses daily closing down. No matter the business you are flagging off or running, please be more concerned about the VALUE your business is giving out, because for whatever business you are going into, their is someone else running it at the moment, so the only way you will come on board and remain on board his the additional value your business is offering which others are not... Be smart and don't stop thinking.
#12

*LOCATION*

As an entrepreneur, you must always be conscious of your location, where is your products and services placed and how visible are they to your potential customers, watch this, no matter how much a good name a company has, you will always see that they are always located where customers and potential customers can easily access them, be visible and easy to come by, don't hide yourself because it will kill your hard/smart work.
#13

*TARGET CONSUMERS*

As a startup or small scale enterprise learn to make your target market the "Middle Class or Low Class earners" don't make premium or high class earners your main target, because you will have problem satisfying them and you will have to compete with big brands but for the middle class or low class earners, they are easy to satisfy and they are everywhere.
#14

*REINVEST PROFIT*

As a startup, your first 6months of starting such business (if profitable or you have broken even) you are expected to reinvest a large amount of your profit back into the business so that in no time it can find its foot and stand strong, l have seen many startups who immediately they start making profit from their business, they begin to spend it anyhow, if you do so or you are planning on doing so, please stop it now, reinvest a certain amount back into your business and see how it transforms in a very short while.

I learnt that MTN survived because they decided not to issue out dividends for the first 7years of operations in Nigeria. REINVESTMENT PAYS
Lastly for tonight's session

#15

*30 SECONDS PITCH*

Am just to feed up of seeing startups and micro small scale enterprise owners like you jump into unhealthy arguments over things that can't promote what you do, let me tell you this, all you need is 30secs to talk about what you do to everyone you strike a conversation with, and how to do it is simple. When you meet someone always channel the topic of discussion to what you do, your business industry. Eg: when you meet friends discussing about female artist and you are a make-up artist, say things like "Yes you are right, Yemi Alade is a very good musician and I also always enjoy her songs and more importantly the makeups she wears because as a make-up artist l can see that her makeup is dope and that's why am also walking my way up to become a run to "make up artist" by celebrities", with this you have just told that circle of persons that you are a good makeover artist, every small opportunity you get, please talk about your brand, let friends and foes know what you do. Lesson: every discussion or argument you run into, always find a way to channel it to what you do and get to talk about your business .stop wasting your marketing opportunities.

thanks for visiting my blog, hope to see you another time am @sammyswt one of the Leader and founder of @steem-x (an umbrella for antigenic revolution for newbies)