As January rolls to an end, there are sill thousands of people both employed and unemployed who want to invest in a new business to make ends meet. It is not news or strange to meet individuals who want to start a new business complain about cash capital as a hindrance to pursuing their business plans. Gather thousands of unemployed people and motivate them all you want towards starting a business, at the end of the day, all they think and focus on is where to get millions of cash before planning any other thing concerning starting a new business.
Why do people think that money is the first and most vital ingredient to start a business? I am always open to debate on this topic with anyone who feels, money must be on ground first before they start thinking of other things concerning building up a business plan.
Ofcourse, money must surely come in to make purchases of materials, pay rent for office/shop but my concern here is that, it must not be the first in your business plan or else you will end up starting a business and within few months, it crumbles. It will always crumble because, those who have this mindset that money is all they need to start business hardly understand what it means to run a successful business so they focus on money capital and once they have it, they open a flakey business.
To start a business, there are several factors to put in place seriously for your business to grow and last long term. Those of you who always put money first( listen let me repeat…am not saying you should not plan for the money….do not get me wrong here….i am saying…..train and equip yourself with other vital business plans and by the time you finish, you will be fully ready to manage any money that comes your way.
Now, this year 2016 you have been worrying yourself sick where to get millions to start what ever business you desire but you have forgotten to sit down and evaluate other business characteristics/strategies like— IDEA, CAPACITY, ATTITUDE Capital as well.
Pick the brain of some people around you who keep complaining of not having money to start a business and ask them what kind of business they want to open. You will be suprised how scattered their response will be. Infact that could be the first time such people will actually think deep what they really want to do as a business. They have no solid idea of what they want to do. Infact they could have so many kinds of business ideas but not really sure which one to focus on yet, such a person is focusing on money only.
How about such persons capability to run and handle the new business effectively? Ask same persons how they intend to run the business of their choice and they will be giving zigzag response. Again, they are not even sure if they are capable of handling a business. Have you done a good survey the environment you want to establish your business if it is suitable for it? What people are you targeting to patronize you? How do you package your business so that it can attract good patronage? These are certain questions you ask yourself and answer to have full comprehension of what kind of business you want to open. I have encountered such persons who miss the cash capital they want so much because of lack of solid idea and full capacity of knowing what opening a business entails. They forget that there are people who have money and looking for whom to trust the money to invest and they always come across such people as they seek for cash capital and lose them as well. How do you expect me to give you money to open a business when i discovered that you are not fully prepared mentally to run a business?
There are people who have been lucky to get some millions while searching for cash capital and the first thing they do is to buy a flashy car and rent very expensive shop outlet. Take for instance giving someone 3million to start a business and he/she uses 2.5million to buy a car first. You see a building material trader who started selling timber, nails newly in a local market using an ipad. What has an ipad got to do with your line of business? ( at least in the new phase of business) Later in future when your business has finally kicked off smoothly and you have made good profit and probably, you have new ideas to add to your business, you can comfortable afford to buy any gadget you want. Ofcourse If the business you have in mind must require a car to succeed, there are cheaper cars you can buy but this is not the case with people in this part of the world. The car must be the latest so that people notice me and know that i have arrived…..that i have made it big….this is absolutely a sign of someone who has no clue what it means to run a successful business….. his/her priorty is crippled which is where ATTITUDE falls in. Such persons has the wrong attitude to start and run a business. Again , you are looking for rich people to give you money capital and the your phone is more expensive than the one being used by the person you are begging money. Such a person will simply decline your request because giving you money will be a waste. You can’t be asking someone to give you 100 thousand Naira and you have a brand new phone worth 80 thousand naira. Your character/Attitude capital has disqualified you for that money.
So if you digest what i have said here, you will understand why i believe that cash capital cannot be the major worry of those who want to start a new business. Most business takes time to grow and if you do not have full knowledge and prepare yourself very well to run which ever business you want to run, you can’t make it. What is the need of borrowing money to open a shop and still be borrowing money to pay workers and after 1/2years, you shut down? This is not business…what you did was just fraustrating yourself and wasting valuable year/years of your life time period chasing the wind.
When you prepare yourself very well in other areas of business management and not putting cash capital first, in the course of meeting people, they will voluntarily give you money to start a business. This is because they have observed that you know what you want to do and the money they will give you will not be wasted by you.
Jaclyn IWU is a Life/Career/Business Coach
A stress Management Expert &Conference Speaker
Media Communication Personnel
BLOG: http://bluntjacqui.blogspot.com
FACEBOOK: beautifulwoman.column
TWITTER: @Jacquiworld
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