Many
people have been thinking to start their own business in different stages of
their lives. Some people decide after their education career is over, some
people decide after their completion of formal business degree while most
people don't do their business because of being busy with a full time job. They
get stuck with the job routine.
Coming up with the
idea is one thing while getting starting the business is something else. It requires
dedication, commitment and motivation. For most of the people starting a
business might be an easy decision, but in reality it's a great responsibility
that needs heavy shoulders to take its burden forward. Focus of the mind and creativity is of
paramount importance in carrying business forward.
Also, starting a
business in developed economies will probably need a little hurdle as compare
to the least or developing economies because in developed countries, a well regulatory
model is in place where you can go according to your plan, however, this is not
the case with developing countries and we have to encounter several government
made obstacles and challenges.
In general, by
starting a small business people have been thinking that they can make a lot of
money. A few people do make a lot of money by running a small business. On the
other hand a lot of people lose their money by not conducting a proper market
research.
As an entrepreneur and
business owner, interesting things happen. For example, you are your own boss;
you have your own freedom; your not going to report to anyone. You make your
holidays everywhere and whenever you want. These are some of the merits of
having or owning your own business.
Besides enjoying the
positive aspects of owning a business you have to be dedicated, committed and
motivated – commitment and dedication to pursue your business is not easy. Your
presence and attention will also be needed most of the time.
According to my
understanding usually entrepreneurs make two major blunders one that they don't
do a proper market research and second they don't do a self assessment before
starting a small business. It is very important to do market research and self-assessment
to see whether you pass the feasibility stair before or not.
A couple of points
must be considered before you give a practical shape to your idea: -
v
You should
be sound and healthy
v
You
should have knowledge about your business
v
You
must conduct a proper market research
v
You
should do your self assessment
v
You
should be able to work on your own most of the time because CEOs have the
loneliest jobs
v
You
should have ability to work under pressure
v
Failure
will not be an option
In addition to the above
points it will also be indispensable to have the assistance of:
o
A good
team such as your spouses or family member who either have proper business
knowledge or have a business experience.
o
Contacts
with the business world, university, professors, and international friends who
can advice and help to promote your small business
o
Last
but not the least a proper financial assets or support to help you start,
develop, and sustain your business.
We have very famous
saying that success does not come overnight. There could be disappointments and
failures in the early months of your business, there could be joy and loss.
Those who could not stand and tolerate these pressures should not start a small
business. The ability to endure all these pressures, will definitely lead your
business to success. Motivation, dedication, commitment and patience are the
cornerstone for a startup success.
Sadaqat
Ali
Chief
Executive Officer
GoodLife
Non Alcoholic Beverages Production
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