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How You Can Actually Build Your Hobby Into A Business Idea In 2017 - Business - Nairaland

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Business Idea In Exchange For Funds. / No Reasonable Business Idea In Nairaland / Another Fantastic Business Idea In Town (2) (3) (4)

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How You Can Actually Build Your Hobby Into A Business Idea In 2017 by hilario8898(m): 5:42pm On Jan 03, 2017
There is no business that can ever succeed if the passion and drive to make it work is not there! Before you look at to what business idea you have to start up and develop, you must be very sure of the following before going for a BUSINESS PLAN write up!

1. Have an undying passion for it

2. You must have an unquestionable confidence that it must work... (not it will work)

3. You must look out for the industry such ideas fell into.

4. Make an indepth research about the possible failures in such industry and what challenges & Risk has this industry been through over 10 years and (above, if possible)

5. Now you have to go into the investment analysis of such ideas, such as the Payback period, the average rate of return, the internal rate of return, and so on

6. After been sure that this Business is profitable and lucrative, then sourcing of Funds comes in, But before that, the estimated required amount needs to be 100% verified ( You need to be sure of the amount needed)

7. If it's a business you can handle alone, PERFECT! But if otherwise then get a qualified and well trained, positive minded and Zealous persons or person

8. Get the person engaged with task and opportunity to show you the resources they carry! Do you know the interesting thing about Business, especially this No.8. Not every body is created to be a Business man or Woman! Some where created to make your Business Grow, that's why they went to school to study hard, they even went further to get Bsc, HND, M.Sc, Phd and even some professional certicates in areas where you need them.... Locate this people, getting them is very easy... PLACE AN ADVERT and they will come running for Job consideration!

9. You must also look at for the location of the business and your target market before NO.8

Remember this Quote: 95% of people goes to school to help build on someone's IDEA, while 3% goes to school to build on their own idea while the remaining 2% goes to school to be in between.... AGHANTI EMEKE HENDRIS-2016

Where do you belong? 2017 is HERE! what's your plan and target?

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