By Emmanuel Abiona
Starting a business has been crucial issue in the
business world over the time due to the intimidating factor of generating
capital for a business idea. Hence many scavenged for capital which is not lost
to start up a business or another idea through manipulating means. It is at
this point many give up their dream simply because they think there is no
capital to finance the dream or project when their skimming seems not to yield
positive result. If you ask some people how they intend spending proposed money
for business, they begin to babble by saying I will do that, I will do this
even without having mapped out print of the vision they propose to
execute. Vision is the key for
provision, any worthwhile vision you have will surely be provided for.
Before striking on the path for business, you ought
to have done feasibility studies or planning on the kind of business you want
to venture in. This planning includes your short term and long term business
plan, identifying a problem which your idea is capable of solving, your market
research, target audience, location you intend starting your business and the
like. It is when all these are in order before you now begin to look for
capital to finance the dream. But most of the business idea many profess to
have does not need capital to kick start. What you just need in such situation
is turning your intention to action by starting with what you have.
Here is shocking news for you, the first capital
you need as an entrepreneur is not money. You can go on and argue this, but
you will still discover that it is truth I have painted. This I discovered some
few years ago. I realized that money many clamour for is just a means to an end
not an end to a means. Have you ever seen anyone being buried with money in the
coffin? Or have anyone who is sick carried money to the sick bed that this is
my money that will cure my ailment? Then wouldn’t it sink to your consciousness
that money is just an exchange. I recalled telling my clients in every of my
training sessions in my school of Business “WEALTHBROOK SCHOOL OF BUSINESS”
which I serves as a facilitator that money is an exchange for services
rendered. What gives value to money is the product you purchased with it, in
essence money is as useless as a rough paper until you have found value in a
product or services that needs to be paid for. This is the principle that
guides many multi-billionaire and multi-national entrepreneurs.
What then is the first capital? The first capital
that is readily available at the disposal of every startup and emerged entrepreneur
is TIME CAPITAL. A wise man once observed that “God does not give us
money but He gives us time and we use it to make money.” What a profound
statement! You will agree with me that one that have money but have no time to
spend it is more miserable that one that has got time but no money. Why? It is
with time that you make and spend money. So you’ve got the capital of time to
brainstorm or think on idea that should produce income for you. If your
business must experience positive turnaround, you’ve got to utilize first the
manner you spend your precious time. If you can’t effectively mange the free
resources (which is time) you have, you can’t effectively manage other
resources that comes your way. Your first generating tool for capital is
mindset and attitudinal change as regards the way you spend your time because
its supply and flow is limited.
The second capital is IDEA. After having much
supply of time to yourself, you effectively utilize it to identify a problem.
When identifying a problem, you must give room for analyzing it. The process of
analyzing a problem is when you draw up a logical thought known as “idea”. It
is this substance that will aid in solving the problem you have at first
identified. Business never succeed without an idea, it is idea couple with
action that rules the world of business. So the money you expect will never get
into your hand if you’ve got no idea to run the money with. IDEA IS A MESSENGER
YOU SEND ON ERRAND. Stop looking for capital if you have not properly plan and
done business logistics.
Another capital you need after idea is NETWORKING,
this I called the “People’s capital”. There are some thing you don’t need spend
money on some ideas at the initial start inasmuch you have some network of
people around you. Some people exist in our network just to help us in solving
few problems we might encountered. Such network of people I often referred to
them as Social Entrepreneur. They just exist in our network as a philantropists
who delight in carrying out Business advisory services for us (should there be
any help you need as regards your business, I can help in rendering business
advisory services for you).
To be continued in part two next week. Stay tuned.
Contact Emmanuel Abiona (Brand Strategist Consultant) @ emmykonsult@facebook
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