9 Important Things To Knows Before Starting a Business.

Entrepreneurship is a sweet journey but before one starts enjoying it's sweetness, there are roughness to pass through.

But then, that should not discourage you from embarking on your journey to becoming one.

However, before you launch out as a business man or woman, here are 8 things to note.

1. Money is not enough: Though funding a business as a beginner is one hard thing most entrepreneur faces, but you may be lucky enough to get the starting capital even enough. But that alone is not enough, having a sound business model that generates consistent cash flow is very important. Plus you need people to implements it; a team and management skills etc...

2. Focus On People And Their Needs: You cannot start a business that doesn't solve real problem(s) people face daily. Business is all about people. Focus on people, find out their need, and solve it. Also compensate your team of employees; pay them well.

3. Choose The Right Business For You: Mostly, your chances of Success lies within choosing the right business idea. Choose a business idea around something you are passionate about and the market is not saturated. There are times when no matter how much you try, things just won’t work out because market conditions are not in your favor.

4. Separate Yourself From Your Business: It is true that many people find it hard to differentiate personal finance from that of their business. Seeing yourself as an employee and a shareholder will help you separate yourself from your business and so, help you manage your business finance not to eat them all.

5. Stay Productive: It is good to spend hours daily working on your business, but if you are not productive its a matter. And you may easily get tired and want to give up because things are not working or you're not getting the results you want. Know what you want to achieve daily, create a milestone, and be effective to make that happen. Eat the right diet, exercise well, and stay healthy to stay productive.

6. Save Early: One of the reasons people go into business is to become financially free. And I know that it is one of your reasons too; to be making money even while sleeping so that you spend good time with family and love once, travel where you want to and do things you love doing and still, these don't affect your business or networth. To achieve that, you have to save early and save to invest to achieve financial freedom not just to keep spending on unnecessary wants. I failed on this aspect when I started my journey and you won't want to fail too.

7. Learn The Art Of Debt Management: Starting a business with a borrowed money is very dangerous and risky especislly for beginner entrepreneurs. Because the business may fail and you still need to pay your debts. So know how to use borrowed money to run your business, make sure you utilize it well such that you make profit early to pay back. I also failed on this aspect, it's now I know.

8. Seek A Good Mentor: Getting someone to guide you in your entrepreneurship journey is very important. Trust me you don't want to make mistake on this step. Mentorship is like parental guidance and you need someone who have a track record of success in business to help you be accountable for your actions without caring about how you feel.

9. Keep Learning: Read books on your business industry and in general. Learn marketing skills, management skills, etc as a business owner you must be a leader, and leaders are readers.