Business Questions People Ask Me

Question 1: How do I start a business?

Oh! Hello everyone and welcome to my blog today. I wanted to answer a few questions that I have gotten in the past few years of my life doing business. While the Naira isn't doing pretty well in the global market, becoming and holding on to be a Millionaire or Billionaire in Naira isn't as easy as it looks because the expenses associated with living in this country is high. If it will cost you $100 to stock your fridge for food in a month in the US, it would cost you 3X that amount to do the same thing here but that said, everyone wants to be like you even when they do not understand what you are going through, so they ask questions and the first question was what I wrote above.

Image Credit

To start a business, you just need to sell something. Either you are selling an idea, a commodity, a service, or even your time, you are in the world of business. If you are getting money for whatever you are giving out, then you are in business. All you have to do is sell something instead of just looking away. If you are giving a service or product without getting money for it, then you are doing a non-profit or charity.

If you are selling something, remember to never take advice from anyone who isn't an investor and isn't financially invested in the outcome of the business. When I am saying this, I am not referring to investors, I am referring to prospective or supposed customers. If a person isn't going to buy your service or your product, then their advise should not hold waters.

Image Credit

Question 2: What business can I start and not spend a lot of time with but still make money?

A lot of people are so interested in starting a side business, they just want to start something that they do not need to invest much time into but want to get result and the answer I give is Never start a business if you wouldn't give it your time. Even the smallest business that you think is simple requires a whole lot of time and lot of resources. Nothing is simple because if it is, it isn't going to be of value. Business is hard, and it takes years for it to become easy. It never begins easy, so if you think it will start easy, then you mean it will start dead.

Question 3: Work, Life Balance is important with business

Actually, this is false. It takes a whole lot of time to be able to balance work and life and this is because just like your child, or your family, a business is a living entity the difference is that instead of blood, it runs by money, time, and effort. If it dies, it tells on everything and it even affects the person behind the business. Leave the balancing of work and life to years later because at the beginning, it isn't easy and it requires a lot of effort. When your business wants to eat, you need to feed it and that business doesn't care if you have a family or not, if doesn't get what it needs at the time it needs it, it is going to die.

Image Credit

Question 4: How Mindset Should You Have When Starting Your Business
Dream Big, Expand your mind but never start as big as you think because you might not have the capacity to pull it through. You want to start big, you might fall big without even starting at all but when you start according to your financial capacity, then you can grow and work yourself up to the top.

Never have this mindset that when you start a business all your problems will be gone especially finance. Success isn't no problem because this is the mindset of a lot of people, there is no magic door that gives you a glamorous life once you become successful, instead the problem just get bigger because the bigger you get, the bigger the problem. If you cannot find happiness now with the little you have, then I wonder the happiness you will be seeking when the stage is bigger and the sacrifices are bigger.