How to Get Started in Business

I recently gave a talk to employed men and women and business owners, who wanted to find out how to get started in business in order to build a strong foundation. Here are highlights of the talk in 8 points.

1. The REAL reasons why you are still hesitating to resign from your job
   Most people live their lives on autopilot. We do as our parents wish, as the society wishes… then at some point when we are required to do as we wish, to make a contribution, we don’t know what to do. The real reason why you are still hesitating to resign from your job is because you don’t know who you are, you don’t know your passion; or you have forgotten either. Find who you are and what your passion is and your life will get a clear direction.

2. The most effective way of identifying your purpose in life and your passion
   This is the exercise that made me discover my purpose in life and reminded me how I love writing. I suggest you do the same.
   Think about the day of your funeral. Your family and friends will be gathered and every one of them will stand to pay tribute to you. What would you like your father, your mother, your brother, your sister, a representative of your workmates, a representative of your business associates and your spiritual leader to say about you?

3. How to protect your unique idea
   If you have a unique idea, make sure you’ve registered it with the Kenya Industrial Property Institute (KIPI) before sharing it with anyone, especially a corporate with much more legal muscle than you do. Copyright it or patent it. There are some costs involved, but the potential gains of a great idea outweigh by far the cost of a trademark or a patent.

4. The truth about having a business plan
   Some business advisers recommend that you should absolutely have a business plan, while another school of thoughts says that you need a business plan only if you are raising capital, since professional investors will need it. They say that otherwise, as long as you have done a minimum of research and know there’s a market for your product or services, you are good to go.
   I agree with the second opinion and here’s why. We started Arkad World Limited without a business plan, and later Dafina Housekeeping Executives with a draft business plan that we are yet to complete 5 years on. The reality on the ground is so different from the predictions in the document. I both scenarios we were able to do business nevertheless.

5. What you should expect once you start a business
   Building a successful business is like riding on a rickety matatu on a bad road!
   Some businesses bring in money fast, others take time. As an employee you are used to a regular income at a certain period of time. As an entrepreneur you should get used to uncertainty and plan accordingly.
   You will not get support from your family and friends if they are not business minded. They will only appreciate what you are doing once they see the money. Don’t feel bad about it, it’s normal.
   On the flip side you will experience tremendous joy whenever you achieve a goal. And should you be interviewed on TV you will say that all the challenges were worth it and you wouldn’t change a thing if you were to do it again!

6. Who you should partner with
   When I was conducting research for my business, I was advised to only partner with my husband. Especially I was warned to avoid any partnership with a friend, because they said that friendship doesn’t survive business partnership. Some even advised me never to partner with a Kenyan!
   The success or failure of a partnership depends on how open minded the partners are and how ready they are to acknowledge and manage conflict. Like any other relationship, a partnership needs to be worked on constantly and daily.
   I have partnered with my friend, she’s Kenyan, our friendship had grown stronger, and I have become better as a result.

7. How to get your first client
   After you have identified your life purpose and your passion, find out if you can be paid for what you want to do. Does your passion respond to a need? Does it offer a solution? How much are potential clients ready to pay for it?
   If a certain market is not ready to pay what you believe your product is worth, approach higher paying clients.

8. The best time to quit your job
   Resigning from your job is not easy. Some people carry their resignation letter or keep it on their laptop for days, weeks, months, sometime years!
   Business advisers agree on this: start building your business in your free time as you keep your job, then resign from your job only when the income from your business surpasses your salary.

Are you in any of these situations:

• you are employed, you want to step out and start your own business but you don’t know how to go about it
• you are in business but despite your efforts you are not making money

I would like to meet you for a FREE Business Growth Consultation.
These are the points we will discuss about:

A- Your current situation
B- The challenges you are going through
C- A road map to achieving your goals
D- How you can reach your goals through the BizzRafiki program

For more details and to book an appointment, please call/text me Now on 0707621802/0733763831 or email: angela@mkazi-magazine.com  Subject: ‘I want to Get Clarity’

 

Angela Kamanzi
Your Friend in Biashara

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