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Starting Your Own Business

This is my first article in this website; however, I will be releasing many articles down the road since I like reading, researching, and writing. Moreover, I am a business owner and I am ready to share a lot of experiences with you. I am going to start by welcome all of you who like to join business arena. Some of you might have a lot of questions to ask such is this a right moment to a business, definitely I will tell you that there is no right time to start a business. You can start a business at anytime and you can own as many businesses as you can. What is needed most is comprehensive personal preparations and high level of business strength. Remember there is no adequate powerful weapon to guarantee your business success like having sufficient knowledge and personal confidence of what you are planning to perform.
            Study showed that private sector is a backbone of both developed and developing countries around. With this fact in mind, I am highly encouraging most of my fellow Tanzanians to think the need of starting a business. The good news is; anybody is allowed to start the business and become a business owner. No matter your background, whether you are an employees, unemployed, student, or other fields; there are difference number of businesses around the world that will suite your desires and the nature of your professional. When you talk about business, most of you start thinking about starting capital, how business management will be, or what kind of the business to start. Of course, you’re right about that. However, you might be wrong when think that all kind of businesses require huge amount of capital or complicated management style to start. Based on my personal experience, I can divide business into two groups – regular business and smart business. I like the former group since it requires less management team, less starting capital, and less operating expenses. Put all these advantages into account, smart business are ideal to most educated people, students and workers who have less time to put in business arena. Smart businesses are easy, simple, and smooth to operate; however, are difficult to allocate and sometimes needs a lot of know-how. At this point, I do encourage those who have less business background to seek expertise for more consultations. Although this is a new vocabulary in our culture; as an experienced business owner with business professional background, I insist, do not send your hard working money into business arena if you do not have satisfactory business plans that is prerequisite to maximize high chances of your business success.
            Once prepared and executed accordingly, business plan will be your guiding instrument of your business. Therefore, as a successfully business owner, you will experience many advantages such as:

  1. Freedom: Freedom is one of the psychological needs of human being and most of us we are pleased once we get a chance to explore this kind of life style. being your own boss means less or zero existence of negative rules that in turn give you an opportunity to implement your own rules and procedures for personal benefits.
  2. Vision: Being a business owner will give you a chance to show and to prove to the members of the society your constructive ideas on anything. As a business owner, you will be able to put your vision into practice and if possible you will generate a lot of success for doing that.
  3. Control: once you start a business, automatically the business will grand you a control power you have been waiting for a long time. You will have a controller of all departments within your working place. Moreover, you will not be worrying of losing a job again since no singly employee in your company will dear to fire you out of the job.
  4. Flexibility: once you become managing director of your business, you will gain more capability of trying more ideas at the right time and with less resistance. What works in one company does not necessarily work in another company or what works yesterday does not guarantee to work today. Most business owners believe that being more flexible is a key weapon to test business ideas and visions for the benefits of the business. Remember, with advanced technology, your will be able to operate your business in anywhere even working at home.
  5. Choice: being a business owner, you will be granted the right to choice a right location for your business, a capability to generate and prosper business brand of your choice, build a desirable business culture, choice a management style, supply you business with the right software, or choosing a dressing code for your business.
  6. Many Holidays: The success of your business will depend on many things; including how you plan your works. With articulated business planning, you will be able to have many holidays compare with those who are working in others working place. Moreover, you will be able to work while enjoying a vacation somewhere.
  7. Choosing a Team Mates: as a boss, you will get a capability of hiring only employees that you believe are capable and willing to transform your vision into the next projected levels. Having right employees is essential for survival of any business. Moreover, right employees are required since will facilitate meeting your projected short-and long-term plans that in turn will elevate business return of investment (ROI).
  8. Working at Home: depending with nature of business and availability of advanced technology, once used effectively, together will allow you to work at home in most of your time. This kind of working option is highly being used in most countries around the world and has being brought a lot of satisfactions to most participants.
Like other major projects, starting a business needs significance prepations in order to maximize possibility of prosper and maximize return of your investment. Capital for business can be obtained from personal savings, private to bank loans, inheritance, retirements, or from other sources or from combination of these sources. However, this is the fact; all business owners are joining this club in order to make profit. The first milestone of starting a business is having comprehensive prepared business plan. Having a well prepared business plan before starting any kind of business is not a matter of choice, but necessary. Every business has to have a business plan that will be used to direct where the business is going on. However, preparing a business plan is a sensitive and broad topic that needs a lot of time to explore. Therefore, I will prepare a full article in new future just for this purpose.
            Although I just started by directing my first articles focusing on new business owners, I want to tell old business owners both local and international alike, that I have a lot of material to share with you in near future. I understand there a lot of factors that are essential and need to be discussed with most business owners as one ways of improving the way you operate your business and managed to meet your business projections. My friends, I want to tell you that I am a business owner like you and also I am a student finishing my degree in Business Administration. Therefore you can see how far will go in sharing these essential materials that are essential for prospering your venture. Thank you for reading my article, and let me say, this is just a starting point, expect more in my next articles “essential steps before deciding being an entrepreneur”.

Posted by: Administrator

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