Starting a business can feel scary when you don’t know much about it. But guess what? Many successful business owners began just like you. With some effort and the right steps, you can start a business even if you’re completely new to it. Let’s walk through how to start a business when you’re starting from scratch.
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Find something you’re passionate about
The first step to starting a business is figuring out what you want to do. Think about things you enjoy or problems you’d like to solve. Maybe you love baking and want to sell cakes. Or perhaps you’ve noticed people in your area need help with certain kinds of work. Your business idea should be something you care about because you’ll be spending a lot of time on it. Don’t worry if your idea isn’t perfect right away. Many successful businesses changed a lot from their first idea. The important thing is to start somewhere. As you learn more, you can adjust your plan.
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Learn everything you can
When you start a business without much knowledge, learning becomes your top job. There’s so much free information out there to help you. You can:
- Read books about business from your local library
- Watch YouTube videos about starting a business
- Take free online courses about business basics
- Follow business leaders on social media for tips
Don’t feel like you need to know everything before you start. You’ll learn a lot as you go. The goal is to get a basic understanding of how businesses work.
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Talk to people who’ve done it
One of the best ways to learn how to start a business is to talk to people who’ve already done it. Look for local business owners in your area. Many of them are happy to share advice with newcomers. You might even find someone willing to be your mentor. If you’re shy about talking to strangers, start with people you know. Do you have any friends or family members who run businesses? Ask them about their experiences. They might give you insights you wouldn’t find in books or videos.
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Make a simple plan
Now that you’ve got some basic knowledge, it’s time to make a plan. Don’t worry about creating a fancy 50-page document. When you’re just starting to start a business, a simple plan is fine. Write down:
- What your business will do
- Who your customers might be
- How you’ll make money
- What you need to get started
This plan will help guide you and keep you focused. It’s also useful if you need to explain your idea to others.
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Start small and test your idea
You don’t need a big, fancy launch to start a business. Starting small is often smarter. It lets you test your idea without risking too much. For example, if you want to start a bakery, you could begin by selling to friends and family. Or if you’re thinking about a cleaning business, start with just a few clients in your neighbourhood. Starting small lets you learn what works and what doesn’t. You can make mistakes and fix them without it costing too much. As you get more comfortable and successful, you can grow your business bit by bit.
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Get your finances in order
Money is a big part of any business. When you start a business, you need to know how much money you have and how much you’ll need. Look at your savings and think about how much you can put into your business. You don’t always need a lot of money to start a business. Many successful companies started small. But you do need to be smart about how you use your money. Keep track of everything you spend and earn, even if it’s just in a simple notebook at first.
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Handle the legal stuff
Starting a business involves some paperwork. You might need to register your business name or get certain permits. This part can seem complicated, but don’t let it stop you. Many cities have small business offices that can help you figure out what you need. You can start by registering your business with the Corporate Affairs Commission (CAC). You can also find lots of information online about the legal requirements to start a business in your area. Take it one step at a time, and don’t be afraid to ask for help if you need it.
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Build a support network
Starting a business can be lonely, especially when you’re new to it. That’s why it’s important to build a network of people who can support you. This might include:
- Other business owners you meet
- Friends and family who encourage you
- Online communities of entrepreneurs
Having people to talk to can make a big difference. They can offer advice, cheer you on when things are tough, and celebrate your successes with you.
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Be ready to work hard and learn from mistakes
Starting a business takes a lot of work, especially when you’re learning as you go. There will be long days and times when you feel unsure. That’s normal! Every business owner goes through this. Remember that mistakes are part of the learning process. When something goes wrong, don’t get discouraged. Instead, ask yourself what you can learn from it. Each mistake is a chance to make your business better.
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Keep improving and adapting
The business world changes quickly, so it’s important to keep learning and improving. As you start to understand your business better, look for ways to make it even better. This might mean:
- Improving your product or service
- Finding new ways to reach customers
- Learning new skills to help your business grow
Stay curious and open to new ideas. The most successful business owners are always looking for ways to do things better.
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Final Thoughts
Starting a business with zero knowledge might seem impossible, but it’s not. Many successful entrepreneurs started just where you are now. When you take it step by step, learning as you go, and not being afraid to make mistakes, you can build a business from scratch. Every expert was once a beginner, so start somewhere.
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This article was first published on 10th October 2024 and updated on October 11th, 2024 at 9:03 am
chidiogo-akaelu
Chidiogo Shalom Akaelu holds a degree in English and Literary Studies, from the University of Nigeria. She is a freelance writer, editor and founder of Loana Press, a budding online publishing outlet.
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