How to start a business (Things to know first)

Before starting a business, you should consider some necessary things that I am want to share with you in this article.

Choosing a business Name: this is very important for a start up business, because a name is an identity, therefore you have to choose a befitting identity, name that can represent what you are doing, something unique and easy to remember. One simple technique in choosing a business name is to write up to ten names down and ask friends and relatives to choose from them, the one that was most chosen can be used. Remember, it is not about what you like but what will sell fast.

Choose your business Location: one factor that determines business success is your location. You should take time to carefully choose where you want to locate your business, and the choice should be determined by some factors like;

·         Accessibility: the people who need your product and services should be able to reach you easily.

·         Infrastructural facilities: you must be able to determine if the location has the basic infrastructural facilities you need to smoothly run your business. Examples are light, road network, telecommunication network, water etc.

Register the business Name: It is very vital for you to register your business name with the appropriate body set up by government, like in Nigeria it is the Corporate Affairs Commission (CAC).  You have to do that in order to secure the business name and so that you can transact business with the name. The process is easy and it is not so expensive.

When you follow these steps, you will hardly make the kind of mistakes that so many small business owners make a lot of times.

I wish you success in your business endeavor.

Felix Aigbonohan

Business & Personal Development coach

Xterics Resources®| RazorEdge Coaching

www.maximumperformancecoach.com.